343.6 k tons of methanol exported from Azerbaijan in 9 months

In January-September 343.6K tn. of methanol worth $65.7 mln were exported from Azerbaijan.

It should be noted that in the same months of 2022, 368.6K tn. of methanol were exported from the country, the export value was $103.9 million.

The majority of the methanol exports went to Turkiye, with over 100K tn. exported in the first nine months of 2023. This is followed by Russia, with over 60K tn. exported, and Italy, with over 40K tn. exported. Other countries that received methanol exports from Azerbaijan include the United Kingdom, Spain, and the United States.

The increase in methanol exports from Azerbaijan is likely due to the country's growing methanol production capacity. In 2020, the country's first methanol plant was opened, with a capacity of 1.2mln tn. per year. This has allowed Azerbaijan to become a major player in the global methanol market.

Overall, the increase in methanol exports from Azerbaijan is a positive sign for the country's economy. The increased exports will help to boost the country's GDP and create jobs in the methanol industry.