Share of non-oil industry exports hits 67 pct

By Azernews

By Ayya Lmahamad

Azerbaijan's Economy Minister Mikayil Jabbarov has said that the share of non-oil industrial exports in the total non-oil exports was more than 67 percent in 2021.

The development of the non-oil industry in the country gives an impetus to the role of this sector in overall economic growth, the minister wrote on his official Twitter page.

Jabbarov also noted that the development of certain areas of the non-oil sector in Azerbaijan has accelerated, and last year the value-added in the sector increased, compared to the same period last year.

"Growth equaled 34.2 percent in tourism and catering, 17.8 percent in non-oil industry, 16 percent in transport and warehousing, 6.1 percent in information and communication, 5.3 percent in trade and vehicle repair, and 3.3 percent in agriculture, forestry and fishery," the minister wrote.

Earlier, the minister stated that the export of non-oil products has increased by 47.2 percent, and reached the highest historical figure in 2021. 

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 the non-oil goods' export is planned to double by 2025.