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Country's non-oil exports up by 30.5pct in Jan-July

6 August 2021 11:30 (UTC+04:00)
Country's non-oil exports up by 30.5pct in Jan-July

By Ayya Lmahamad

Azerbaijan’s non-oil exports increased by $316.7 million or 30.5 percent in January-July 2021, the Center for Economic Reforms Analysis and Communication of Azerbaijan has reported.

In the first seven months of the year, the country's exports totaled $11.4 billion, with the non-oil sector accounting for $1.4 billion.

Fruits and vegetables accounted for $338 million of the total amount of non-oil exports.

Moreover, during the reported period, exports of sugar increased by 2.3 times, ferrous metals and its products by 2.4 times, cotton yarn by 2.8 times, cotton fiber by 88.5 percent, aluminum and aluminum products by 42 percent and chemical products by 37 percent.

In the meantime, Azerbaijan exports in July amounted to $2.6 billion, with an increase in non-oil exports by 55.7 percent to $192 million. Food exports increased by 6 percent to $43 million, while non-food exports increased by 80.1 percent to $149 million.

Earlier, the country's economy minister has said that the increase in non-oil products export is an indicator of the sustainability of the Azerbaijani economy, even during the pandemic.

The minister earlier announced that Azerbaijan’s business environment was entering a recovery period after the coronavirus pandemic, adding that the country’s business environment will be further improved. He stated that the measures would be taken to achieve SMBs' significant share in GDP, promote their participation in public procurement and boost business transparency.

The task is set of sustainable diversification of the economy, and in this regard, it’s planned to develop a concept that will contribute to the growth of non-oil exports. The volume of export of non-oil goods is planned to double by 2025.

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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

Follow us on Twitter @AzerNewsAz

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