Export earnings of Azerbaijan’s Azercosmos down by 28%

In January-May this year, Azercosmos, under the Ministry of Digital Development and Transport of Azerbaijan, exported services worth $7.8 million to 42 countries, 27.8% less than in the same period last year, Report informs, citing the Export Review presented by the Center for Analysis of Economic Reforms and Communication.

In May alone, Azercosmos exported services (satellite telecommunications and optical satellite) to 40 countries for $1.6 million. Compared to the same period last year, this is nine countries more and $0.7 million, or 30.4%, less than a year earlier.

In five months, Azercosmos sold the most services to the UK ($2.2 million), Luxembourg ($1.7 million), UAE ($690,000), Germany ($431,000), and Pakistan ($363,000).

The space agency’s service export revenue accounted for 77% of total revenue.