How is electricity used in Azerbaijan?

Electricity can be generated in two main ways: by harnessing the heat from burning fuels or nuclear reactions in the form of steam (thermal power) or by capturing the energy of natural forces such as the sun, wind or moving water.

What are Azerbaijan's Top export products?

Azerbaijan’s top 10 export product categories generated 97.6% of the overall value of its global shipments. Vehicles represent the fastest grower among the top 10 export categories, up by 321.5% from 2022 to 2023. In second place for improving export sales was plastics, including both as materials and items made from plastic, via a 19.3% advance.

What are net exports in Azerbaijan?

In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services. Azerbaijan has highly positive net exports in the international trade of crude oil and, to a lesser extent, petroleum gases and electrical energy.

Does Azerbaijan have a strong export market?

Azerbaijan’s shipments of machinery including computers posted the third-fastest gain in value, up by 15.4%. The leading decliner among Azerbaijan’s top 10 export categories was organic chemicals, dragged down by a -33.9% year-over-year drop.

What percentage of Azerbaijani exports go to Europe?

From a continental perspective, 70.2% of Azerbaijani exports by value was delivered to European countries while 29.3% was sold to importers in Asia. Azerbaijan shipped another 0.3% worth of goods to Africa.

Does Azerbaijan have a trade surplus?

Overall Azerbaijan achieved a US$23.6 billion trade surplus for 2023, expanding by 124.8% from the $10.5 billion in black ink one year earlier in 2022. The following types of Azerbaijani product shipments represent positive net exports or a trade balance surplus.