Azerbaijan boosts non-oil exports by 30.9 pct in 5M2022

By Azernews

By Ayya Lmahamad

Azerbaijan increased its non-oil exports by $280.6 million, or 30.9 percent, in January-May of 2022, Azernews reports per the June export review of the Center for Economic Reforms Analysis and Communication of Azerbaijan.

In the first five months of the year, Azerbaijan's exports totaled $15.4 billion, including $1.2 billion in the non-oil sector. Fruit and vegetable production increased by 6.4 percent to $219.2 million compared to January-May 2021.

Cotton yarn came in first with $123.7 million in non-oil exports, followed by tomatoes with $91 million and carbamide with $84.1 million.

Turkey ranked first with $390.2 million in non-oil product exports in January-May, followed by Russia with $263.4 million and Georgia with $74.7 million.

During the normalization process, exports amounted to $3.6 billion in May 2022. Non-oil exports increased by 5.7 percent to $222.4 million. In addition, food exports amounted to $66.4 million, while non-food exports increased by 24.7 percent to $156 million.

Russia ranked first with $71.7 million in non-oil product exports in May, followed by Turkey with $56.5 million and India with $17 million. Tomatoes ($32.8 million) are first on the list of non-oil exports, followed by cotton yarn ($21.2 million) and carbamide ($15.9 million).

The export review also included data on export orders received by the azexport.az portal. As a result, the portal received orders totaling $215 million from January to May 2022. In May 2022, the value of export orders received by the azexport.az was $52.3 million. It should be noted that the portal received $3.04 billion in export orders from 145 countries between January 2017 and May 31, 2021.

Furthermore, the value of non-oil exports through the Single Window Export Support Centre in June of this year was $20 million.

The purpose of the export review is to familiarize entrepreneurs with export issues, expand opportunities for exporting local goods to traditional and new markets, and accelerate the process of integration into international markets.