Non-oil exports to reach record high in 2021

By Azernews

By Ayya Lmahamad

Azerbaijan's non-oil exports will reach a record high this year, Economy Minister Mikayil Jabbarov wrote on his official Twitter page on December 7.

"According to updated forecasts, this year's non-oil exports in Azerbaijan will reach a record high and exceed $2.6 billion," he tweeted.

The minister stated that the efforts are continued to diversify the economy and increase transparency in line with sustainable development priorities.

Earlier, the minister said that a rise in the non-oil products export is an indicator of the Azerbaijani economy's sustainability, even during the pandemic.

It should be noted that the country's exports totalled $19.8 billion, with the non-oil sector accounting for $2.4 billion in January-November 2021. In the first 11 months of 2021, non-oil exports increased by $720.8 million or 44 percent, compared to the corresponding period of 2020. 

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.