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National exports hit $26.2bn in Jan-Aug 22

9 September 2022 14:18 (UTC+04:00)
National exports hit $26.2bn in Jan-Aug 22

By Ayya Lmahamad

Azerbaijan's exports totaled $26.2 billion, with the non-oil sector accounting for $1.9 billion in January-August 2022, Azernews reports, citing the Center for Economic Reforms Analysis and Communication of Azerbaijan.

During the reporting period, non-oil exports increased by 19 percent, compared to the corresponding period of 2021.

Meanwhile, exports of chemical products increased by 3 times, aluminum and aluminum products by 66 percent, and ferrous metals and their products by 21.1 percent.

Moreover, exports in August 2022 amounted to $3.7 billion dollars, while non-oil exports resulted in $204 million. At the same time, food exports increased by 21.5 percent to $46.6 million over the same month last year and non-food exports amounted to $157.4 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 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 non-oil goods exports 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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