BAKU, Azerbaijan, May 11. The Azercosmos space agency revenues reached 515 million manat ($302 million) since the beginning of its activity in 2013, Chairman of the Board of Azercosmos Space Agency Samaddin Asadov said during the discussion of the new draft law on space activities at the meeting of the Milli Majlis (Parliament) Committee on economic policy, industry and entrepreneurship, Trend reports.
Asadov pointed out that 90 percent of the income came from abroad, in USD and euro.
"We have supported the inflow of foreign currency into the country. The space sphere is considered profitable and pays off," he said.
The company owns two communication satellites – Azerspace-1 and Azerspace-2, as well as the low-orbit Azersky satellite.
In 2022, the income of the Azercosmos space agency from the sale of satellite and telecommunication services amounted to $26.6 million.