Azercosmos exports services worth $10.8m in Jan-May 22

By Azernews

By Ayya Lmahamad

Azerbaijan’s satellite operator Azercosmos exported services worth around $10.8 million to 33 countries in January-May 2022, Azernews reports per the June export review of the Center for Economic Reforms Analysis and Communication of Azerbaijan.

The company's revenues from the export of services accounted for 87 percent of its total revenues.

The five main countries to which Azercosmos exported services were the UK with $2.8 million, France with $2.2 million, Luxembourg with $1.8 million, the United Arab Emirates with $1.1 million, and Pakistan with $0.6 million.

Particularly, in May, the company exported services worth $2.3 million to 31 countries.

In 2021, Azercosmos exported services worth around $45.3 million to 41 countries. The company's revenues from the export of services accounted for 89 percent of its total revenues. The top five countries to which Azercosmos exported services last year were France, the U.S, the UK, Malaysia, and the United Arab Emirates.

Established in 2010, Azercosmos is the only satellite operator in the South Caucasus region and provides high-quality satellite services for telecommunications and geographic intelligence.

Azercosmos along with Azerspace-1, Azerspace-2, and Azersky satellites, facilitates the reception of signals from satellites of other satellite operators via a fiber-optic network.