Azerbaijan’s revenues from export of oil-gas industry products will be more than 50 bln. dollars for next 4 years

Azerbaijan’s revenues from export of oil-gas industry products will be more than 50 bln. dollars for next 4 years
  • Clock-gray 17:51
  • calendar-gray 22 December 2020

Azerbaijan will export oil-gas industry products worth of USD 13 370,5 mln in 2024, and this is 18% more than in comparison to the forecast for 2021, APA-Economics reports citing the “Concept and forecast figures on economic and social development for 2021 and next 3 years” submitted to the budget envelope.

According to the information, Azerbaijan will export oil-gas industry products worth of 11 341,3 mln dollars in 2021, 12 408,6 mln dollars in 2022, 13 162,1 mln dollars in 2023.

As it is seen, the value of Azerbaijan’s product export on oil-gas sector is expected to be made up 50 252,5 mln dollars for next 4 years.

The decrease in imports of these products is expected against the background of a gradual increase in exports of oil and gas products from the country. Thus, Azerbaijan will import oil-gas products worth of 1 536,8 mln dollars in 2024. This is 9,7% less than in comparison to the forecast for 2021.

According to the information,  it is forecasted that the oil-gas products worth of 1 701,5 mln. dollars will be imported in 2021,  1 762,7 mln. dollars in 2022, and 1 588,6 mln. dollars in 2023 to the country.

Emil Ismayilov

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