Azerbaijan's Azercosmos sees decline in satellite service exports

In the period from January to December 2024, the Azerbaijani Space Agency (Azercosmos) exported satellite telecommunications services worth $18.5 million to 50 countries around the world. This represents a decrease of 2 countries and a 6.57% reduction compared to the same period in 2023, Azernews reports, citing the “Export Review” January issued by the Center for Analysis of Economic Reforms and Communication.

The reports say Azercosmos' revenue from service exports accounted for 73% of its total income. In December 2024, Azercosmos exported services worth $1.6 million to 40 countries.

In the past year, the top five countries for satellite telecommunications service exports were the United Kingdom, with $6 million, Luxembourg with $3.8 million, the UAE with $855,500, Pakistan with $683,800, and Turkey with $654,500.