National exports hit $18.5bn in 1H2022

By Azernews

By Ayya Lmahamad

Azerbaijan's exports totaled $18.5 billion, with the non-oil sector accounting for $1.5 billion in January-June 2022, Azernews reports, citing the Center for Economic Reforms Analysis and Communication of Azerbaijan.

During the reporting period, non-oil exports increased by 25.4 percent, compared to the corresponding period of 2021. Of the total non-oil exports, the export of fruits and vegetables increased by 7.1 percent and amounted to $328.1 million.

Meanwhile, exports of chemical products increased by 5 times, aluminum and aluminum products by 2 times, ferrous metals and their products by 26.1 percent, cotton yarn by 12.8 percent, and cotton fiber by 5.2 percent.

Moreover, exports in June 2022 amounted to $3.1 billion dollars. Non-oil exports increased by 5.8 percent to $269.6 million. At the same time, food exports increased by 6.6 percent to $119.6 million over the same month last year and non-food exports increased by 5.1 percent to $149.9 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 non-oil goods exports is planned to double by 2025.