Azerbaijan Sees Significant Growth in Non-Oil Exports in 2024

The Azerbaijani Center for Analysis of Economic Reforms and Communication has reported a 1.9% year-on-year increase in non-oil and gas exports from January to November 2024, totaling $3.1 billion.

Notable growth was seen in food exports, which rose by 12.3%, reaching $923 million, The Caspian Post reports, citing the Center.

In addition, exports of various products showed significant gains, including a 65.4% increase in sugar and sugar confectionery exports ($37.5 million), a 52.6% rise in cotton fiber exports ($170 million), and a 32% growth in vegetable oils and fats exports ($25.5 million).

Precious metals exports grew by 29%, reaching $189.8 million, while chemical industry product exports rose by 19.6%, totaling $265.6 million. Exports of alcoholic and non-alcoholic beverages increased by 13.5%, reaching $64.4 million, and tea exports saw a modest rise of 1.6%, totaling $6 million. Exports of ferrous metals and aluminum products also experienced slight increases.

From January to October 2024, non-oil and gas exports increased by 3.5% compared to the previous year, reaching $2.8 billion, with food exports rising by 13.6% to $803.1 million. Agricultural exports grew by 5.7%, amounting to $603.5 million, while processed agricultural goods surged by 60.3%, totaling $260.9 million.