Expert: Only 10% of Azerbaijan`s export accounts for non-oil sector


January 16, Fineko/abc.az. Expert economist Rovshan Agayev has commented on foreign trade statistics for 2019.

ABC.AZ informs that Agayev noted that 88% of Azerbaijan’s export was formed by 15 countries in 2019, and this figure made up 84% in 2018.

This means that the geographical concentration of exports has increased, and this is a negative trend. According to the expert, changes occurred in Top 15 countries where Azerbaijan exports - Taiwan, Ukraine and Indonesia left the 15th place, and they were replaced by China, UK and Thailand. Top 3 did not change - Italy, Turkey and Israel: "Only 10% of export was carried out at the expense of the non-oil sector and 90% due to the oil & gas sector. In 2019 the average export price for crude oil reached $480 per ton, compared with $532 in the previous year. The export price for each ton of natural gas was $189 per 1,000 cu m - about the same as last year. In natural terms, gas export observes growth by about 50%."

By Elmir Murad