In quarter 1, 2013 Azerbaijan exported chemical products to the amount of $15,963,000. According to the Azerbaijan State Customs Committee, export of chemical products dropped by 57% against the same period in 2012.
From January to March 2013 share of chemical products in the total volume of export constituted 0.25%.
During 2012 Azerbaijan exported chemical products to the amount of $174,584,000. Export of chemical products increased by 45.34% against 2011. Share of chemical products constituted 0.73% in the total volume of export in 2012.
According to the State Statistical Committee, in quarter 1, 2013 Azerbaijan made chemical, pharmaceutical, rubber and plastic products to a total amount of 66.8 million AZN. The production of chemical products increased by 0.6% against the same period in 2012.
According to the statistical information, from January to March 2013 production of iodine increased by 39% up to 61.3 tons, sulfate aluminum by 65.6% up to 18,900 tons and isopropyl spirit by 4.9% up to 5,400 tons.
During the same period production of propylene declined by 26.5% to 6,600 tons, polyethylene by 12.2% to 22,400 tons and varnish-and-paint products by 13.6% to 732,300 tons.-0-
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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