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Monday December 5 2022

National exports hit $8bn in 1Q2022

7 April 2022 11:26 (UTC+04:00)
National exports hit $8bn in 1Q2022

By Ayya Lmahamad

Azerbaijan's exports totaled $8 billion, with the non-oil sector accounting for $727.2 million in January-March 2022, the Center for Economic Reforms Analysis and Communication of Azerbaijan has reported.

During the reported period, non-oil exports increased by $225.6 million or 45 percent, compared to the corresponding period of 2021. Of the total non-oil exports, fruits and vegetables products' export increased by 28.5 percent and amounted to $124.9 million.

Meanwhile, exports of chemical products increased by 10 times, aluminum and aluminum products by 63.9 percent, cotton yarn by 29.3 percent, cotton fiber by 5.6 percent, ferrous metals and their products by 48.7 percent.

Moreover, exports in March 2022 amounted to $2 billion dollars. Non-oil exports increased by 55.9 percent to $265.5 million. At the same time, food exports increased 13.6 percent over the same month last year to $48.8 million and non-food exports increased 70.1 percent to $216.7 million.

Azerbaijan's exports totaled $22.2 billion last year, including $2.7 billion in the non-oil sector.

Earlier, Azerbaijan's Economy Minister Mikayil Jabbarov stated that a rise in the non-oil products export is an indicator of the Azerbaijani economy's sustainability, even during the pandemic.

The task is set of sustainable diversification of the economy, and in this regard, it is 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

Follow us on Twitter @AzerNewsAz

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