BAKU, Azerbaijan, January 5. SOCAR Polymer Company increased exports of products by 59.53 percent from January through November 2023 compared to the same period last year, Trend reports, referring to the Center for Economic Reform Analysis and Communication (CAERC).
CAERC data shows that the company's exports amounted to $277.9 million in the reporting period of 2023, which is $103.7 million more than the figure for the same period of 2022 ($174.2 million).
SOCAR Polymer ranks third in the top 10 regarding the value of non-oil products exported by state-owned companies.
Overall, the total value of non-oil products exported by 10 state-owned companies in Azerbaijan from January through November 2023 amounted to $1.264 billion, which is $183.05 million, or 16.93 percent, higher than the same period in 2022 ($1.081 billion).
SOCAR Polymer is one of the largest investors in the Sumgayit Chemical Industrial Park and produces polypropylene and polyethylene within the park. The products manufactured at the enterprise are currently exported under the Made in Azerbaijan brand to more than 10 countries (China, Poland, Nigeria, Romania, Kazakhstan, Bulgaria, Türkiye, Uzbekistan, Georgia, Belarus, Russia, and Ukraine).