SOCAR Polymer's export revenues down by 16%

In January-June 2022, SOCAR Polymer LLC, a subsidiary of the State Oil Company of Azerbaijan (SOCAR), exported products worth $81.1 million, down $15.3 million, or 15.9% from the previous year, Report informs, citing the Export Review of the Center for Economic Reforms Analysis and Communication.

In January-June of this year, the export of Azerbaijan amounted to $18.5 billion, including 1.5 billion in the non-oil sector.

SOCAR Polymer owns a Polypropylene Plant with an annual production capacity of 184,000 tons. The plant was inaugurated on June 18, 2018, with the participation of President of Azerbaijan Ilham Aliyev and President of Italy Sergio Mattarella. Exports of polypropylene began on October 5, 2018.