SOCAR tops Azerbaijani's non-oil export rankings despite slight decline

The Marketing and Economic Operations Division of SOCAR, Azerbaijan's state oil company, has maintained its top position in the ranking of major state entities for non-oil sector exports during the first half of 2024.

SOCAR's division exported non-oil products worth $185.9 million from January to June 2024, a slight decrease of 0.1% compared to the first half of 2023, Caliber.Az reports, citing the Center for Analysis of Economic Reforms and Communication of Azerbaijan.

Caspian Drilling Company secured the second spot with exports totalling $125.7 million, marking a tenfold increase over the same period.

SOCAR Polymer ranked third, with a 23.8% decrease in exports, amounting to $115.1 million during the first six months of 2024.

Other state companies in the top ten include Azeraluminium with $72.6 million in exports (an 8.5% increase), Azerenerji with $50.5 million (a 6.2-fold decrease), and AzerGold with $48.7 million (a 36.8% increase).

Additionally, Azerpambig's agricultural-industrial complex saw a threefold increase to $31.9 million, Azerbaijan Airlines reported $9.3 million in exports (a 17.7% increase), the State Energy Service of the Nakhchivan Autonomous Republic reached $498,300 (an 18% increase), and Azeripek achieved $291,800 (a 194.5-fold increase).

Overall, Azerbaijan's non-oil exports for the first 6 months of this year totalled $1.7 billion, reflecting a 5.6% decline compared to the first half of 2023.