National exports hit $15.4bn in 4M2022

By Azernews

By Ayya Lmahamad

Azerbaijan's exports totaled $15.4 billion, with the non-oil sector accounting for $1.2 billion in January-May 2022, Azernews reports, citing the Center for Economic Reforms Analysis and Communication of Azerbaijan.

During the reporting period, non-oil exports increased by $280.6 million, or 30.9 percent, compared to the corresponding period of 2021. Of the total non-oil exports, the export of fruits and vegetables increased by 6.4 percent and amounted to $219.2 million.

Meanwhile, exports of chemical products increased by 8 times, aluminum and aluminum products by 2 times, cotton yarn by 23.7 percent, cotton fiber by 14.5 percent, and ferrous metals and their products by 49.8 percent.

Moreover, exports in May 2022 amounted to $3.6 billion dollars. Non-oil exports increased by 5.7 percent to $222.4 million. At the same time, food exports increased by $66.4 million over the same month last year and non-food exports increased by 24.7 percent.

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 Azerbaijani 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.