National exports hit $34.7bn in Jan-Oct 22

By Azernews

By Ayya Lmahamad

Azerbaijan's exports totaled $34.7 billion, with the non-oil sector accounting for $2.4 billion in January-October 2022, Azernews reports, citing the Center for Economic Reforms Analysis and Communication of Azerbaijan.

During the reporting period, non-oil exports increased by 16.2 percent, compared to the corresponding period of 2021.

Meanwhile, exports of chemical products doubled, while the exports of aluminum and aluminum products increased by 25.7 percent, ferrous metals and their products by 24.5 percent, and tea by 48.9 percent.

Moreover, exports in October 2022 amounted to $5.2 billion dollars, while non-oil exports resulted in $269.1 million. At the same time, food exports amounted to $73 million, while non-food exports increased by 17.5 percent to $196.2 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.