The growth of the oil and cotton prices at the world markets and increase of the local production in Azerbaijan led to the rapid growth of the export levels in 2005. The export growth has more than doubled this year and reached $7,6bln in comparison to 2004, the State payment balance, prepared by the National Bank told, Trend reports.
$6, 6bln worth of oil and oil products have been exported in 2005, which is in 2,1 times more than in 2004. Crude oil makes up $5,5bln of this amount.
$4,8bln of it has been exported by AIOC. $915, 8m is Azerbaijani oil, $2, 5bln- as a return of foreign investments. $608, 4m revenue of the State Oil Company.
The oil sector goods export has grown on 50,2% in 2005 and reached $765, 8m. This growth largely occurs in the chemistry, color and black metals, cotton and agriculture producing areas.
The current export structure can be seen in the chart
|
2004 |
2005 | |||
|
Amount, m. $ |
Total weight, % |
Amount, m. $ |
Total weight, % | |
|
Export- total |
3743.0 |
100.0 |
7649.0 |
100.0 |
|
Including: | ||||
|
1. Fuel products |
3378.4 |
90.3 |
6974.7 |
91.2 |
|
- oil products |
3096.5 |
82.7 |
6618.4 |
86.5 |
|
- other raw materials |
281.9 |
7.6 |
356.3 |
4.7 |
|
2. Machinery/equipment |
184.9 |
4.9 |
303.0 |
4.0 |
|
- offshore drilling platforms |
136.3 |
3.6 |
264.8 |
3.5 |
|
3.Agriculture/industry goods |
173.8 |
4.6 |
349.9 |
4.5 |
|
4. Other |
5.9 |
0.2 |
21.4 |
0.3 |