Jabbarov: Azerbaijan doubled non‑oil and gas exports over past five years

In 2019-2024, the annual value of Azerbaijanchr("39")s non‑oil and gas exports doubled, reaching $3.4 billion, while the number of exported goods increased by 15% to 2,810, according to Azerbaijani Economy Minister Mikayil Jabbarov, Olaylar informs.

Speaking during the first reading of the draft law on the State Budget for 2026 at todaychr("39")s plenary meeting of the Milli Majlis, Jabbarov noted that despite declining oil and gas prices and production, since 2022, the countrychr("39")s foreign trade turnover has stabilized at around $50 billion:

"From 2022 through 2024, the foreign trade balance, excluding gold imports by the State Oil Fund (SOFAZ), recorded an average annual surplus of $16 billion. Non‑oil and gas services exports increased by up to 45%, surpassing $6.5 billion."

The minister added that compared to actual figures in 2018, revenues in the approved 2025 state budget are 1.7 times higher, with non‑oil and gas revenues rising 2.2 times. Non‑oil and gas tax collections have grown 2.3 times during this period.

"The share of non‑oil and gas revenues in the budget has risen from 40% in 2018 to 52% in the approved 2025 budget. In the 2026 budget draft, this figure is pr