Minister of Economy: Azerbaijan's foreign exchange reserves exceed imports by 4.6 times

Azerbaijan's strategic foreign exchange reserves have reached $ 53 billion, Minister of Economy Mikayil Jabbarov said, Report informs.

"This is 90.6% of the country's gross domestic product (GDP) in 2021, exceeds imports by 4.6 times, and is particularly important for economic independence," he added.

The Minister also said that the decisions taken in the direction of industrialization of the country, the creation of industrial zones show the initial results: "Last year, value-added increased by 1.8% in the non-oil industry, by about 22% in the non-oil refining industry. Boosting the share of GDP in the non-oil sector remains our strategic goal, and we will continue to follow these indicators in the coming years."