Azercosmos exports telecommunications services worth nearly $10 million

The Azerbaijani space agency Azercosmos exported satellite telecommunications services valued at $9.5 million from January to June 2024, matching the same period in 2023.

These services were utilized by 48 countries during the first half of the year. In June alone, Azercosmos provided services to 42 countries, generating $1.6 million in revenue, Center for Analysis of Economic Reforms and Communication told Caliber.Az.

The top five importers of Azercosmos' satellite telecommunications services for the first half of 2024 were: the United Kingdom ($3 million), Luxembourg ($1.9 million), the UAE ($566,000), Pakistan ($347,900), and Germany ($342,200). Revenue from these exports accounted for 78 per cent of Azercosmos' total income.

In 2023, Azercosmos' revenue from commercial satellite operations was $19.8 million, reflecting a 25.6 per cent decrease compared to 2022.