Electricity exports eclipsed decline in revenues from sale of strategic goods

In the first ten months of this year Azerbaijan sold $2 billion 712.5 million worth of non-oil and gas goods abroad , which is up by 13.6% from the comparable period of 2022, the State Customs Committee reported. Given this, revenues for many strategic goods declined significantly.

Recall that a share of non-oil and gas goods in the export structure was 9.24% against 6.87% recorded in January-October last year.

Fruit and vegetable products account for 20% of non-oil and gas exports this year, chemical industry goods - 7.4%, electricity - 12.3%, plastics and plastic products - 14.7%, aluminium - 6.1%, cotton - 3.6%, ferrous metals - 3.1%, etc. Revenues from the sale of fruits and vegetables (544.4 million) rose by 11.4 per cent this year, plastics (400 million) 21.3 per cent, and electricity (348 million) 5.3 times.

According to the SCC, for many other commodities, the volume of exports as well as revenues declined. For example, exports of cotton fibre generated revenues of 98.4 million, which is down by 36% from the first 10 months of 2022. Chemical exports are estimated at 200 million, down 40% from last year's figure. Revenue from exports of aluminium (166.5 million) and ferrous metals (90.7 million) fell by 5.5% and 24.3%, respectively