Azercosmos's exports services worth $19m in Q1

By Azernews

By Akbar Mammadov

Azerbaijan’s satellite operator Azercosmos OJSC exported services (satellite telecommunications and optical satellite services) worth $19.1 million to 26 countries in the period between January and May in 2020, the Center for Economic Reform Analysis and Communication revealed in its “Export Review” on June 30.

Thus, the volume of Azercosmos’ exports increased by 19 percent in the first quarter of 2020 compared to the same period in 2019.  

Azercosmos's revenue from service exports accounted for 90 per cent of its total revenue. The main importers of Azercosmos’ services were the United Kingdom, the United States, France, Malaysia and the UAE in 2020.

According to the “Export Review”, the following companies are in the top ten in the ranking of non-state exporters for January-May 2020: “Socar Polymer” LLC, Representative Office of “Azerbaijan International Mining Company Limited” in Azerbaijan, “Land Logistic” LLC, “MKT Istehsalat Kommersiya” LLC, “Fruit Store” LLC, “Sun Food” LLC, STDC LLC, “Agrovest” LLC, “Global Trade Group” LLC and Baku Steel Company.

The state-owned companies involved in export operations in the non-oil sector were SOCAR's “Marketing and Economic Operations Department”, followed by “Azerenergy” OJSC, “Azergold” CJSC, “Azeraluminium” LLC, “Azerpambiq Agrarian Industry Complex” LLC, “Azerbaijan Airlines” CJSC, “Azerbaijan Thermal Power Plant” LLC, “Azertutun Agrarian Industry Complex” LLC, Nakhchivan AR State Energetic Service and “ASK glass” LLC.

Moreover, the "Export Review" revealed the volume of transactions carried out by foreign citizens in Azerbaijan through bank cards in May.

Thus, in May 2020, transactions of foreign citizens in Azerbaijan through bank cards amounted to $14.3 million (AZN24.3 million).

In general, in January-May 2020, the value of transactions carried out by foreigners in Azerbaijan via bank cards amounted to $150.7 million (AZN256 million).