National exports hit $14.6bn in Jan-Sep 2021

By Azernews

By Ayya Lmahamad

Azerbaijan's exports totaled $14.6 billion, with the non-oil sector accounting for $1.8 billion in January-September 2021, the Center for Economic Reforms Analysis and Communication of Azerbaijan has reported.

In the first nine months of 2021, non-oil exports increased by $525.3 million or 40.9 percent, compared to the corresponding period of 2020. Fruits and vegetables accounted for $398.9 million of the total non-oil exports.

Meanwhile, during the reported period, non-oil exports of cotton yarn increased by 3.3 times, ferrous metals and their products by 2.3 times, sugar and chemical products by 2.1 times each, cotton fiber by 80.8 percent, and aluminum and aluminum products by 55.8 percent.

Moreover, in September, the country's exports totaled $1.7 billion. Non-oil exports increased by 75.2 percent to $224.7 million.

Additionally, during the reported month, food exports increased by 34.5 percent to $46.2 million, while non-food exports by 90 percent to $178.5 million, over the same month last year.

Earlier, Azerbaijan's Economy Minister Mikayil Jabbarov noted that the country's non-oil exports are predicted to exceed $2 billion by the end of 2021. He also stated that a rise in the non-oil products export is an indicator of the Azerbaijani economy's sustainability, even during the pandemic.

The task is set of sustainable diversification of the economy, and in this regard, it’s planned to develop a concept that will contribute to the growth of non-oil exports. The volume of the non-oil goods' export is planned to double by 2025.