BAKU, Azerbaijan, Sept. 8
By Zeyni Jafarov - Trend:
The volume of Azerbaijan's non-oil exports over the first 8 months of 2021 equated to the annual indicators of 2017-18 in this category, amounting to $1.6 billion, the head of the department of the Center for Analysis of Economic Reforms and Communications of Azerbaijan (CAERC), Nijat Hajizade told Trend.
The decline in the active phase of the coronavirus pandemic, the successful process of vaccination of the population, the revival of manufacturing, and the normalization of the economy in Azerbaijan's partner countries will contribute to the fact that by the end of the year the total volume of Azerbaijan's non-oil exports will exceed $2 billion, Hajizade said.
"At the same time, we can say that if our forecasts are justified, then in 10-11 months of 2021, non-oil exports will exceed the same annual figure of 2019, which reached $1.9 billion," he said.
One of the main driving forces of Azerbaijan's economic growth is export, including the non-oil sector, he added
For the second year in a row, Azerbaijan's exports exceed imports. This ensures a positive trade balance and has a favorable effect on the economic pace of the country in general.
---
Follow the author on Twitter: @jafarov_zeyni