Azerbaijan's Azercosmos Increases Export Revenues
According to the August 2026 edition of the Export Review published by the Center for Analysis of Economic Reforms and Communication (CAERC), the figure increased by 5.1 million manat ($3 million), or 50.5%, compared with the same period last year.
Revenue from exports of services accounted for 62% of Azercosmos' total revenue during the reporting period.
The top five destinations for Azerbaijan's satellite telecommunications service exports included the UK with $2.5 million, Luxembourg with $1.9 million, Türkiye with $730,300, Pakistan with $669,300, and Egypt with $382,500.
Meanwhile, Azerbaijan's non-oil exports, excluding non-monetary gold, increased by 18.3% year-on-year to $2.5 billion in January-July 2026.
Azercosmos, the Space Agency of the Republic of Azerbaijan, was established in 2010 as the first satellite operator in the Caucasus region. It operates the country's national satellite fleet, including the telecommunications satellites Azerspace-1 (launched 2013) and Azerspace-2 (2018), as well as Earth-observation capabilities. The agency provides connectivity and related services to clients across Europe, Africa, the Middle East and Central Asia, with export revenues consistently forming the majority of its income in recent years.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept any
responsibility or liability for the accuracy, content, images, videos,
licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright issues
related to this article, kindly contact the provider above.
Comments
No comment