Azerbaijan boosts non-oil exports by 25pct

By Azernews

By Ayya Lmahamad

Azerbaijan increased the volume of its non-oil exports by $184 million or 25.4 percent during January-May 2021, the Center for Economic Reforms Analysis and Communication of Azerbaijan reported in its June export review.

In the first five months of the year, the volume of Azerbaijan’s exports amounted to $8 billion, including $907.6 million in the non-oil sector.

In the list of non-oil exports, cotton yarn ranked first with $108.6 million, followed by gold with $87.4 million and tomatoes with $87 million.

During the reported period, non-oil goods worth $279.5 million were exported to Russia, $255 million to Turkey, $91.1 million to Switzerland, $69.1 million to Georgia and $29.5 million to the U.S.

In May 2021, Azerbaijan's total exports amounted to $1.6 billion, while exports in the non-oil sector amounted to $210.5 million. Non-oil exports increased by $38 million or 22 percent compared to the May of 2020.

The top three countries in terms of non-oil products export in May were Russia with $91 million, Turkey with $38.7 million and Switzerland with $22.9 million. Cotton yarn ranked first in the non-oil sector export in the reported month with $44.7 million, followed by gold with $22.8 million and potatoes with $19.2 million.

In addition, food exports in the non-oil sector amounted to $85.4 million and non-food exports to $125.1 million.

The export review also provided information about export orders received by Azexport.az portal. Thus, the portal received orders in the amount of $30.1 million in May 2021. In addition, in January-May 2021 Azexport.az received export orders for $194.3 million. It should be noted that from January 2017 to May 31, 2021, the portal received export orders worth $2.3 billion from 145 countries.

Additionally, the value of the non-oil exports through the Single Window Export Support Centre in June this year amounted to $22 million. From 2017 to June 2021, the value of goods and products exported through the Single Window Export Support Centre was $575 million.

The export review aims to familiarize entrepreneurs with export issues, expand opportunities for exporting local goods to traditional and new markets and accelerate the process of integration into international markets.