Oil Dominate in Azerbaijani Export

Oil Dominate in Azerbaijani Export

Oil and oil products constituted 94 % of Azerbaijan’s export in 2011 according to CESD sources.  Only 6 % of export was non-oil products. CESD concerned over Azeri export’s reliance on oil revenue since oil continued to dominate in Azerbaijan’s exports accounting for 94 0% of all exports as of October 01 despite efforts to diversify Azerbaijan’s economy away from oil. Last year Azerbaijan’s foreign trade was $36.326bn.  The export was $26.57bn, meanwhile, import equaled $9.755bn. The surplus balance in trade made $16.814bn thanks to oil income.
© CESD, 2012

 

 

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