Azerbaijan’s non-oil products exports to grow

From 2012-2015, Azerbaijan's exports will increase. According to the socioeconomic development concept for 2012, the average annual export growth will hit 3.5 percent in 2012 and total $26.608.0 billion.

At the same time, black ink foreign will remain in trade turnover for three years.

In turn, import growth in Azerbaijan will hit 15 percent and reach $8.413.3 billion in 2012, and 53 percent and $12.871.1 billion in 2015.

Export growth is still forecasted at the expense of the oil sector. Production will increase from $24.0316 billion in 2011 to 25.802 billion in 2015.

Today, most of Azerbaijan's exports are oil and oil products (86.73 percent), and Azerbaijan plans to increase oil exports in 2012. Meanwhile, SOCAR Trading plans to increase oil sales to Asia.

By late 2011, SOCAR Trading expects increasing oil sales to Asian countries amounting to 7-9 million barrels per month compared to 5-6 million barrels the previous months.

However, given the Azerbaijani government's strategy to develop the non-oil sector and diversify the country's export potential, increasing non-oil exports is inevitable.

Azerbaijan has already increased chemical exports by 2.3 times.

The Azerkimya Production Unit has increased the export of the main types of products produced by the enterprise to Turkey -- polyethylene, propylene, isopropyl alcohol, propylene glycol, and others.

More than 50 percent of all export products is exported to the Turkish market.

At present, Azerbaijan's export growth is also observed on the following products: ferrous metals (an increase by almost two times - by 81.38 percent compared to 2010), fruits and vegetables - by 72.5 percent, tobacco and tobacco products - by 60.33 percent, aluminum and its products - by 88.37 percent, cotton - by 95.63 percent, vegetable and animal oils - 0.59 percent.

The largest volume of Azerbaijan's export in January-September 2011 accounted for far abroad countries - $17.3 billion, the CIS countries - 155.7 million manat.


Leyla Abdullayeva
/Trend/