Export earnings of Azerbaijan’s Azercosmos down by 25%

In January–November this year, Azercosmos, under the Ministry of Digital Development and Transport of Azerbaijan, exported services worth $18 million to 48 countries, Report informs, citing the Export Review of the Center for Analysis of Economic Reforms and Communication.

Compared to the same period last year, this is seven countries more and $6 million, or 25%, less than a year earlier.

In November alone, Azercosmos exported services (satellite telecommunications and optical satellites) to 44 countries for $1.8 million, respectively, down 10 countries and $0.5 million (21.7%) from the previous year.

In eleven months, Azercosmos sold the most services to the UK ($5.2 million), Luxembourg ($3.7 million), the UAE ($1.5 million), Germany ($959,400), and Nigeria ($675,800).

The space agency’s service export revenue accounted for 78% of total revenues.