Azerbaijan boosts non-oil exports by 19 pct

By Azernews

By Ayya Lmahamad

In January-August 2022, Azerbaijan increased its non-oil exports by 19 percent, Azernews reports per the September export review of the Center for Economic Reforms Analysis and Communication of Azerbaijan.

In the first eight months of the year, Azerbaijan's exports totaled $26.2 billion, including $1.9 billion in the non-oil sector.

Cotton yarn came in first with $143.4 million in non-oil exports, followed by carbamide with $142.2 million and tomatoes with $134.2 million.

Russia ranked first with $527.6 million in non-oil product exports in January-August, followed by Turkiye with $491.1 million and Georgia with $126.9 million.

During the normalization process, exports amounted to $3.7 billion in August 2022, with non-oil exports amounting to $204 million. In addition, food exports increased by 21.5 percent and amounted to $46.6 million, while non-food exports amounted to $157.4 million.

Russia ranked first with $65.5 million in non-oil product exports in August, followed by Turkiye with $28.9 million and Georgia with $19.3 million. Carbamide ($20.3 million) is first on the list of non-oil exports, followed by gold ($16.1 million) and peaches ($12.3 million).

The export review also included data on export orders received by azexport.az portal. As a result, the portal received orders totaling $321.2 million from January to August 2022. In August 2022, the value of export orders received by azexport.az was $32.8 million. It should be noted that the portal received $3.12 billion in export orders from 145 countries between January 2017 and August 31, 2021.

Furthermore, the value of non-oil exports through the Single Window Export Support Centre in September 2022 was $24.7 million.

The purpose of the export review is 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.