SOCAR remains non-oil exports leader in public sector

By Azernews

By Rasana Gasimova

The total export of non-oil products from Azerbaijan by 20 large state and private companies in January-November 2019 amounted to $953.5 million, the Center for Analysis of Economic Reforms and Communications reported.

According to the results of January-November 2019, SOCAR Marketing and Economic Operations Department is the largest exporter of non-oil products from Azerbaijan among state-owned companies with a total volume of exports worth $205.1 million, whereas Azerbaijan International Mining Company (a subsidiary of Anglo Asian Mining) is the leader among private companies with exports worth $ 95.4 million.

According to the data provided by the center, the largest non-oil exporters among state-owned companies are: Azeraluminum LLC ($ 106.3 million), AzerGold CJSC ($79 million), Azerenerji ($75.9 million), Azerpambyg Agro-Industrial Complex LLC ($22.3 million), Azerbaijan Airlines ($ 20.8 million), CTS-Agro LLC ($5.8 million), Azertutun Agricultural and Industrial Complex ($2.4 million), SOCAR’s Azerkhimiya Production Union ($2 million) and Baku Oil Refinery ($1.2 million).

As to private companies, the largest private companies exporting non-oil products include: SOCAR Polymer ($ 72.2 million), MKT Istehsalat Kommersiya LLC ($ 60.1 million), Nine Climate LLC ($ 44.6 million), Global Export Fruits LLC ($33.2 million), Sun Food LLC ($28.4 million), Baku Steel Company LLC ($ 26.5 million), Azerbaijan Sugar Production Association LLC ($ 26.2 million), Natural Fruit LLC ($ 23, 6 million), and Caspian Enerji-2020 LLC ($22.5 million).

Azerbaijan strengthens the position of non-oil sector in the total exports of the country in a bid to diversify its economy. Agriculture, tourism, information and communication technologies, and processing industries, are considered basic priority areas in the development of the non-oil sector.

In January-November 2019, Azerbaijan exported non-oil products worth $1,781 million, which indicates a 16.3 percent rise in comparison with the same period in 2018.

The five major countries that imported Azerbaijani non-oil products include Russia, Turkey, Switzerland, Georgia and Italy. A major part of the non-oil products export accounts for Russia.

In 2020, Azerbaijan plans to allocate some 20 million manats ($11.8 million) from the state budget to finance measures to promote and stimulate non-oil exports. This amount is 4.2 percent higher than that allocated in 2019, local media reported.

Earlier, it was noted that Azerbaijan’s non-oil industry will demonstrate an 8.8 percent growth in 2020.