Azerbaijan’s exports hit $13bn in first eights months of 2021
Azerbaijan's exports totaled $13 billion, with the non-oil sector accounting for $1.6 billion during the period of January-August 2021, the Centre for Economic Reforms Analysis and Communication of Azerbaijan has reported.
In the first eight months of 2021, non-oil exports increased by $429 million or 37.1 percent, compared to the corresponding period of 2020. Fruits and vegetables accounted for $364.7 million of the total non-oil exports.
Meanwhile, during the reported period, non-oil exports of ferrous metals and their products increased by 1.5 times, cotton yarn by 3.1 times, sugar by 2.2 times, chemical products by 68 percent, cotton fiber by 88.5 percent, and aluminum and aluminum products by 45 percent.
Moreover, in August, the country's exports totaled $1.6 billion. Non-oil exports increased by 95.3 percent to $230.4 million.
Additionally, during the reported month, food exports increased by 53.1 percent to $38.3 million, while non-food exports by 106.6 percent to $192.1 million, over the same month last year.
Earlier, Azerbaijan's Economy Minister Mikayil Jabbarov noted that the country's non-oil exports are predicted to exceed $2 billion by the end of 2021. He also 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’s 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.