Azerbaijan second among European countries with highest growth rate in high tech exports

Baku. 27 February. REPORT.AZ/ London loves Business has compiled the list of European countries with the highest growth rate in high tech exports.

According to Report, the agency analysed 10-years of high-tech export data from The World Bank to see which countries are enjoying the most growth.

According to the agency, Azerbaijan takes second place, with an average annual growth rate of 41.1% from $9,073,107 export value in 2006, to $9,132,464 in 2016. Strategically positioned at the joining of southwestern Asia with southeastern Europe north of Iran and south of Russia, 49.9% of Azerbaijani exports by value were delivered to European countries in 2016, with 46.4% sold to Asian importers.

Based on estimates from the Central Intelligence Agency’s World Factbook, Azerbaijan’s exported goods plus services represent 45.9% of total Azerbaijani economic output.

Albania, which is leading, and Montenegro are among top three with the highest average annual growth of high tech export.