Azerbaijan increases revenue from urea exports by 11 times in 2021

In December 2021, Azerbaijan exported urea worth $25.1 million, $23.5 million or 15.7 times more than in the same month of 2020, Report informs, citing the Export Review of the Center for Economic Reforms Analysis and Communication.

In 2021, Azerbaijan exported urea worth $118.5 million, which is $107.9 million or 11.2 times more than a year earlier.

Urea (nitrogen fertilizer) is produced at SOCAR’s Urea Plant in the Sumgayit Chemical Industrial Park. The plant was commissioned on January 16, 2019, and has the capacity of manufacturing 650,000-660,000 tons of urea per year using 435,000,000 cubic meters of natural gas as raw material. Some 70% of the production volume is designed for export.