Baku: Non-oil and gas exports have doubled over the past six years, stated Minister of Economy Mikayil Jabbarov during today’s plenary session of the Milli Majlis while discussing the draft law ‘On the State Budget of the Republic of Azerbaijan for 2026.’

According to Azeri-Press News Agency, the minister highlighted that non-oil and gas exports grew twofold from 2019 to 2024, reaching 3.4 billion USD. The number of exported goods increased by 15% to 2,810 items. Despite fluctuations in oil and gas prices and production, since 2022, the country’s foreign trade turnover has stabilized at approximately 50 billion USD.

In the period from 2022 to 2024, excluding the State Oil Fund of the Republic of Azerbaijan’s (SOFAZ) gold imports, the foreign trade balance recorded an average annual positive balance of 16 billion USD. Additionally, non-oil and gas service exports increased by up to 45% and exceeded 6.5 billion USD.