Non-oil exports to reach record high in 2021
By Ayya Lmahamad
Azerbaijan's non-oil exports will reach a record high this year, Economy Minister Mikayil Jabbarov wrote on his official Twitter page on December 7.
"According to updated forecasts, this year's non-oil exports in Azerbaijan will reach a record high and exceed $2.6 billion," he tweeted.
The minister stated that the efforts are continued to diversify the economy and increase transparency in line with sustainable development priorities.
Earlier, the minister said that a rise in the non-oil products export is an indicator of the Azerbaijani economy's sustainability, even during the pandemic.
It should be noted that the country's exports totalled $19.8 billion, with the non-oil sector accounting for $2.4 billion in January-November 2021. In the first 11 months of 2021, non-oil exports increased by $720.8 million or 44 percent, compared to the corresponding period of 2020.
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 the non-oil goods' export is planned to double by 2025.
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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad
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