National exports hit $3.1bn in January

By Azernews

By Ayya Lmahamad

Azerbaijan's exports totaled $3.1 billion, with the non-oil sector accounting for $232.2 million in January 2022, the Center for Economic Reforms Analysis and Communication of Azerbaijan has reported.

During the reported month, non-oil exports increased by $86.2 million or 59 percent, compared to the corresponding period of 2021. Of the total non-oil exports, fruits and vegetables products' export increased by $15.8million and amounted to $52.8 million.

Meanwhile, last month, exports of chemical products increased by 9.3 times, aluminum and aluminum products by 56.5 percent, cotton yarn by 56.4 percent, cotton fiber by 34.5 percent, ferrous metals and their products by 10.2 percent, sugar by 24.1 percent.

Moreover, food exports increased by 31 percent and amounted to $60.2 million, while non-food exports increased by 71.9 percent and amounted to $172 million.

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 the non-oil goods' export is planned to double by 2025.