Follow us:
  • Facebook
  • Twitter
  • Google+
  • AppStore
  • RSS
Azernews.Az
Thursday January 28 2021
  • Latest
  • Nation
  • World
  • Business
  • Oil & Gas
  • Armenian Aggression
  • Nagorno-karabakh conflict
  • Editorial
  • Analysis
  • Lifestyle
  • Events
  • Healthcare
  • Culture
  • Sports
  • Travel
Home
  • Home
  • Nation
  • World
  • Business
  • Oil & Gas
  • Armenian Aggression
  • Nagorno-karabakh conflict
  • Editorial
  • Analysis
  • Lifestyle
  • Events
  • Healthcare
  • Culture
  • Sports
  • Travel

Azerbaijan increases export of non-oil products in 2020

2 April 2020 19:28 (UTC+04:00)
2 574

By Ofeliya Afandiyeva

The volume of Azerbaijan’s non-oil exports increased by 5 percent year-on-year in the period of January-February to reach $296 million, local media reported referring to the Center for Analysis of Economic Reforms and Communication on April 2.

During the reporting period, the bulk of exports fell to raw cotton - $29.9 million (an increase of 15.4 percent), gold - $27.3 million (an increase of 35.1 percent), tomato - $24.7 million (an increase of 38.8 percent), refined hazelnut - $22.2 million (a decrease of 10.1 percent), electricity - $17.8 million (a decrease of 41.6 percent), polypropylene - $14.5 million (an increase by 6.6 percent), persimmon - $14.1 million (a decline of 19.4), computing machines and parts for their blocks - $11.5 million (an increase of 115 times), polyethylene - $8.3 million (a decrease by 44.7 percent).

The five leading countries that imported Azerbaijani non-oil products in the reporting period are:

Russia - $88 million (an increase of 7.4 percent); Turkey - $75.3 million (an increase of 18.5 percent); Georgia - $34.9 million (a decline 5.7 percent); Switzerland - $28.8 million (an increase of 39.8 percent); China - $ 7.6 million (an increase of 20.6 percent).

Russia accounted for 29.7 percent of the export of non-oil products.

It should be mentioned that Azerbaijan's non-oil exports totaled $1.9bn in 2019.

Earlier, the government informed that it plans to allocate $11.8 million to promote the country's non-oil exports in 2020. Azerbaijan’s non-oil industry is expected to demonstrate an 8.8 percent growth in 2020.

According to the estimates by the Ministry of Economy, by 2024, non-oil exports of Azerbaijan will exceed $3 billion.

The steps made for diversification of the economy and the state program “Socio-economic development of regions of Azerbaijan in 2014-2018” made a huge contribution to the non-oil sector, because the main potential for production of non-oil products is concentrated in the country’s regions.

In addition, the opening of Azerbaijani trade houses abroad and organizing export missions to foreign countries to promote the Made in Azerbaijan brand in foreign markets have helped to develop the share of non-oil products in the structure of the country’s exports.

Furthermore, the increasing number of plants operating in the non-oil sector promises very good prospects for Azerbaijan to diversify its economy, reduce oil and gas dependency and increase the inflow of foreign currency into the country.

---

Follow us on Twitter @AzerNewsAz

  • #AZERBAIJANI CENTER FOR ANALYSIS OF ECONOMIC REFORMS AND COMMUNICATION
  • #AZERBAIJAN'S NON-OIL EXPORTS

Related News

Azerbaijan exports non-oil products worth $1bn in 2020

Azerbaijan exports non-oil products worth $1bn in 2020

23 September 2020 15:08
Azerbaijan's exports hit $7.7bn in 2020

Azerbaijan's exports hit $7.7bn in 2020

2 August 2020 11:30
Azerbaijan’s exports hit $6.9bn in 2020

Azerbaijan’s exports hit $6.9bn in 2020

30 June 2020 15:58
Azerbaijan exports non-oil products worth $549 million in Q1

Azerbaijan exports non-oil products worth $549 million in Q1

1 June 2020 16:44
Azerbaijan reveals volume of imports in non-oil sector in Q1

Azerbaijan reveals volume of imports in non-oil sector in Q1

18 May 2020 17:15
Azerbaijani exporters receive orders worth $148m via Azexport portal in Q12020

Azerbaijani exporters receive orders worth $148m via Azexport portal in Q12020

29 April 2020 18:50
Azerbaijan’s non-oil exports exceed $400m in Q1 2020

Azerbaijan’s non-oil exports exceed $400m in Q1 2020

29 April 2020 17:26
Azerbaijan increases non-oil exports by 2.5 percent in January 2020

Azerbaijan increases non-oil exports by 2.5 percent in January 2020

18 March 2020 16:40
Analyst: Azerbaijan has sufficient food stocks

Analyst: Azerbaijan has sufficient food stocks

17 March 2020 16:15
Expert: No need to convert manat to US dollars in Azerbaijan

Expert: No need to convert manat to US dollars in Azerbaijan

13 March 2020 15:40
  • Latest
  • Popular
15:50 • Azerbaijan releases footage of Kalbajar's Alybayli village [PHOTO/VIDEO]
15:44 • Entrepreneurs affected by pandemic receive financial support
15:36 • Realization of SGC - successful result of years of work - Ambassador Cekuta
15:16 • Azerbaijan hands over remains of 31 servicemen to Armenia
14:50 • Precious metal prices decrease in Azerbaijan
14:42 • Kalbajar's most awe-inspiring sites [PHOTO]
14:36 • Azerbaijani FM, French mediator mull regional situation, Karabakh peace deal
14:17 • Germany to continue close regional cooperation with Azerbaijan - Federal Foreign Office
13:51 • Azerbaijan starts reconstruction in Armenian-destroyed regions, cities
13:41 • Azerbaijani State Oil Company to enter new stage of development - minister
13:37 • Kapital Bank installs ATM, payment terminal in liberated Hadrut
13:20 • Meeting of trilateral group on Nagorno-Karabakh region may be held soon - Russian MFA
13:00 • Footage of cemetery destroyed by Armenians in Gubadly region's Saray village [PHOTO]
12:49 • President Aliyev familiarizes himself with renovation work in news schools in Baku [PHOTO]
12:48 • Trade, economic and investment cooperation between Kazakhstan and Ecuador expanding
12:15 • Foreign Ministry thanks Turkey for handing over body of Azerbaijani engineer
11:57 • Armenians vandalize Azerbaijani poetess’ grave in Aghdam [PHOTO/VIDEO]
11:22 • UK eyes participation in restoring Azerbaijan’s liberated lands
11:10 • AZERNEWS releases another print issue
11:04 • Top official eyes Turkey's role in ensuring regional peace in South Caucasus
27 January 16:47 • President Aliyev: Liberation of Azerbaijan’s lands opens new opportunities for region [UPDATE]
27 January 18:50 • Trilateral statement on Karabakh being implemented consistently - Putin
27 January 16:35 • Relations between Azerbaijan and France to continue to develop - French official
27 January 17:29 • Ilham Aliyev receives Special Representative of President in Shusha [PHOTO]
27 January 16:00 • Azerbaijan and ICESCO. New partnership prospects.
27 January 18:40 • Snow expected in western regions
27 January 18:15 • Azerbaijan launches highway construction in Aghstafa district [PHOTO]
27 January 17:35 • Reconstruction of houses damaged as result of Armenian's aggression begins - Trend TV's reports from Barda and Tartar [VIDEO]
27 January 19:00 • State Property Service of Azerbaijan to auction small enterprises
27 January 18:00 • New Azerbaijani minister of transport, communications and high technologies introduced to staff
27 January 18:23 • Demand for Azerbaijani CBA's short-term notes exceeds supply fourfold
27 January 17:55 • Azerbaijani, Turkish FMs mull recent pirate attack on Turkish ship
27 January 18:31 • Azerbaijan benefited from cooperation with Turkey in Patriotic War - President's assistant
27 January 17:12 • Azerbaijan liberated its lands from occupation and new opportunities opened up - assistant to president
27 January 16:49 • Houses destroyed by Armenia in Azerbaijan's Tartar being restored - Trend TV reports [VIDEO]
27 January 17:50 • Azerbaijani FM, OSCE MG co-chair from France exchange views on situation in region
27 January 16:17 • No barriers for France to implement projects in liberated Azerbaijani lands - French minister
27 January 17:48 • Monitoring of historical monuments in Azerbaijan's liberated lands continues
27 January 16:40 • Gold, silver prices down in Azerbaijan
27 January 17:00 • State Art Gallery displays stunning art works
See more
AzerNews Newspaper
AzerNews
  • Facebook
  • Twitter
  • Google+
  • RSS

Information

About us Contacts Advertising Azernews In Print

News Archive

© 2021 AzerNews. All rights reserved