Azerbaijan boosts non-oil exports in 1H2021

By Azernews

By Ayya Lmahamad

Azerbaijan increased the volume of its non-oil exports by $248 million or 27.1 percent during January-June 2021, the Center for Economic Reforms Analysis and Communication of Azerbaijan reported in its July export review.

In the first half of the year, the volume of Azerbaijan’s exports amounted to $8.8 billion, including $1.2 billion in the non-oil sector.

Moreover, non-oil and gas exports per capita grew as well. Thus, non-oil and gas exports in the first six months of 2017 were $82 per capita, $94 in 2018, and $97 in 2019. While that figure fell to $91 because of the pandemic in 2020, it rose to $116 in the first six months of this year.

The foreign trade turnover in June resulted in $2.4 billion, with the country's exports amounting to $1.4 billion and imports to $997.1 million. Non-oil exports increased by 33.7 percent to $254.9 million. The share of the non-oil exports in total export in June amounted to 20 percent.

Furthermore, in the list of non-oil exports, tomatoes ranked first with $123.6 million, followed by cotton yarn with $121.9 million and gold with $107.9 million.

During the reported period, non-oil goods worth $403.8 million were exported to Russia, $309.5 million to Turkey, $117.6 million to Switzerland, $80.2 million to Georgia and $30.3 million to the U.S.

The top three countries in terms of non-oil products export in June were Russia with $124.4 million, Turkey with $54.5 million and Switzerland with $26.5 million. Tomatoes ranked first in the non-oil sector export in the reported month with $36.6 million, followed by cherry with $29.3 million and gold with $20.5 million.

Likewise, in June, the volume of transactions conducted by foreigners on bank cards in Azerbaijan amounted to AZN 48.3 million ($28.4M).

The export review also provided information about export orders received by Azexport.az portal. Thus, the portal received orders in the amount of $42.3 million in June 2021. In addition, in January-June 2021 Azexport.az received export orders for $236.6 million. It should be noted that from January 2017 to June 30, 2021, the portal received export orders worth $2.4 billion from 145 countries.

Additionally, the value of the non-oil exports through the Single Window Export Support Centre in July this year amounted to $20 million. From 2017 to July 2021, the value of goods and products exported through the Single Window Export Support Centre was $595 million.

The export review aims to familiarize entrepreneurs with export issues, expand opportunities for exporting local goods to traditional and new markets and accelerate the process of integration into international markets.