Azerbaijan earns nearly $303M from space activities in last decade

90% of the revenues of the Space Agency (Azercosmos) under the Ministry of Digital Development and Transport came from foreign markets, Chairman of the Board of Directors of Azercosmos, Samaddin Asadov, said during the discussion of the draft Law 'On Space Activity' at the meeting of the Milli Majlis (parliament) Committee for Economic Policy, Industries and Enterprising, Report informs.

"We have focused all our attention on foreign markets. Since 2013, Azercosmos has earned 515 million manats ($303 million), of which 90% came from foreign markets. That is, we earn income in dollars and euros and support the flow of foreign currency to our country," Asadov noted.

According to him, Azerbaijan has 182 customers in 42 countries, most of which are in Africa, Central Asia, and Eastern Europe: "80% of our satellite capacities are in service. This percentage is variable. Sometimes it rises to 90%. But the disposal percentage in the general industry is close to 80%."