Oil keeps dominant position in Azeri export as 92% of total export

Oil keeps dominant position in Azeri export as 92% of total export

Oil and oil products made 92,0 % of Azerbaijan’s export by results of January-April, 2012.According to sources in the State Customs Committee, in the reporting period, crude oil made 86,29 % of Azerbaijan’s export and oil products made 5,0 %.

According to the State Committee reports, oil and oil products made 92,0 % of Azerbaijan’s export in 2011, too.

“Only 8 % of export is non-oil products”- CESD stated. The center concerned over Azeri export’s reliance on oil revenue since oil continued to dominate in Azerbaijan’s exports accounting for 92 0% of all exports despite efforts to diversify Azerbaijan’s  economy away from oil.  Center experts mentioned that non-oil sector contribution to Azerbaijani export was lower than Georgian export.  In fact, Azerbaijani non-oil export is 39 % lower than Georgian total export that shows increasing of total export volume of Azerbaijan is not sustainable.

© CESD, 2012

 

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