Azercosmos' income hits $10.4m in Q12020

1 May 2020 12:29 (UTC+04:00)

By Akbar Mammadov

Azerbaijan's satellite operator "Azercosmos" OJSC exported satellite telecommunication and optical satellite services worth $10.4 million to 24 countries from January to March this year.

According to the April edition of the “Export Review” magazine published by the Center for Analysis of Economic Reforms and Communications, revenues from the export of these services accounted for 88% of total revenues of "Azercosmos".

"The main countries where Azercosmos exported services in January-March 2020 are the United States ($4,5 million), the United Kingdom ($2,9 million), France ($2,0 million), the UAE ($269,000) and Germany ($225,000)", the report said.

It should be noted that "Azercosmos" increased the revenues from exports of services from $7,6 million to $10,4 million in the first quarter of 2020 compared to the same period of 2019, by showing the increase of 37 percent. 

“Azercosmos” is the only satellite operator in Caucasus established on 3 May, 2010 and fully owned by the Azerbaijani government.

Presently, its service area includes countries of Europe, the Caucasus, Central Asia, the Middle East and Africa.

In addition, Azercosmos launched the new satellite Azerspace-2/Intelsat 38 on September 25, 2018.

The satellite has been designed to provide a number of telecommunication services and will serve two operators - Intelsat SA and Azercosmos OJSC.

Today, Azerbaijan is a member of space satellite club with three satellites, long-term space industry development programs and infrastructure and strengthens its position in the global space industry market.

Recently, the country won the right to host the International Astronautical Congress in 2022.

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Akbar Mammadov  is AzerNews’ staff journalist, follow him on Twitter: @AkbarMammadov97

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