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Azerbaijan's non-oil exports hit $1.2bn in 1H2021

31 July 2021 11:12 (UTC+04:00)
Azerbaijan's non-oil exports hit $1.2bn in 1H2021

By Vugar Khalilov

The volume of Azerbaijan’s non-oil exports increased by 27.1 percent year-on-year in January-June, reaching 1.2 billion dollars, the Center for Economic Reforms Analysis and Communication has reported.

The Center said that there was 13.2 percent increase during the recovery period. The non-oil and gas exports per capita also rose from 91 dollars to 116 dollars in the first half of 2021 compared to the previous year.

According to the Center, the main part of export consisted of tomatoes - 123.6 million US dollars (decline of 23.8pct), raw cotton - 121.9 million dollars (2.1 times growth), gold - 107.9 million dollars (growth by 25.9pct), polypropylene - 52 million dollars (growth by 30.3pct ), primary polyethylene with a low density 0.94 -50 million dollars (a 2-fold growth), peeled hazelnuts - 40.3 million dollars (decline of 26. 1pct), potatoes - 39.8 million dollars (growth by 17.8pct), electricity - 33 million dollars (decline of 20.7pct), persimmons - 31.9 million dollars (2.3 times growth), other goods - 562 million US dollars (growth by 41.6pct).

The top five importing countries of Azerbaijani non-oil products included: Russia - 403.8 million dollars (growth by 9pct), Turkey - 309.5 million dollars (growth by 74.7pct), Switzerland - 117.6 million dollars (growth by 22, 4pct), Georgia - 80.2 million dollars (growth by 4.6pct) and the United States - 30.3 million dollars (3.7 times increase). Thus, 33.7 percent of the export of non-oil products fell on Russia, 25.8 percent on Turkey.

In 2020, the volume of non-oil exports of Azerbaijan amounted to $ 1.9 billion, which is 5.2 percent less than in 2019. The decline was driven by restrictions due to COVID-19.

According to the Ministry of Economy, Azerbaijan's non-oil exports will amount to about $ 4 billion by 2026.

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