SOCAR Polymer increases export revenues

In January-November 2023, SOCAR Polymer LLC, a 57 per cent subsidiary of the State Oil Company of Azerbaijan (SOCAR), exported products worth $277.9 million.

The December issue of the Center for Analysis of Economic Reforms and Communication says that this is $103.7 million, or 59.5 per cent more than in the first 11 months of 2022, Report informs.

Azerbaijan's total exports in January-November this year amounted to $31.5 billion, while non-oil exports amounted to $3 billion, increasing by 10.5 per cent compared to the corresponding period of 2022.

Meanwhile, according to the center, SOCAR management revenues from non-oil exports decreased.

In January-November 2023, SOCAR’s Marketing and Economic Operations Department exported non-oil products worth $337.8 million.

The center notes that this is by $212.3 million or 38.6 per cent less than in 11 months of 2022.

In January-November 2023, Azerbaijan's total exports amounted to $31.5 billion, while exports of non-oil sector increased by 10.5 per cent compared to the corresponding period of 2022 and amounted to $3 billion.