Mikayil Jabbarov: Share of SMEs in non-oil exports increased to 60%

As of the end of 2021, the share of small and medium-sized businesses (SMEs) in the added value formed in Azerbaijan's non-oil and gas sector increased to 27.5%, and their share in non-oil and gas exports increased from 31.8% at the end of 2020 to 59.8%, Economy Minister Mikayil Jabbarov said at the 18th annual meeting of the International Network for Small and Medium Enterprises (INSME) themed 'Strengthening SMEs: Economic diversification and green development' organized by State Agency for the Development of Small and Medium Businesses (SMB) under the Ministry of Economy and INSME, which was held in Baku, Report informs.

"99.6% of businesses in Azerbaijan are micro, small, and medium enterprises. Last year, the turnover of businesses in this category was close to $20 billion and accounted for more than 32% of the total business turnover and 56.5% of the non-oil and gas GDP," he said.