Export earnings of Azerbaijan’s Azercosmos down by 27%

In January-July this year, Azercosmos, under the Ministry of Digital Development and Transport of Azerbaijan, exported services worth $11.1 million to 45 countries, Report informs, citing the Export Review of the Center for Analysis of Economic Reforms and Communication.

Compared to the same period last year, this is ten countries more and $4 million, or 26.5%, less than a year earlier.

In July alone, Azercosmos exported services (satellite telecommunications and optical satellite) to 40 countries for $1.6 million.

In seven months, Azercosmos sold the most services to the UK ($3.2 million), Luxembourg ($2.4 million), UAE ($983,600), Germany ($613,800), and Nigeria ($472,900).

The space agency’s service export revenue accounted for 78% of total revenue.