BAKU, Azerbaijan, November 29. The revenues of Azerbaijan's Azercosmos OJSC from providing satellite and telecommunication services (to 50 countries) amounted to $15.4 million from January through October 2024.
Data obtained by Trend from the country's Center for Analysis of Economic Reforms and Communications of Azerbaijan indicates that Azercosmos OJSC's revenues from the export of services amounted to 74 percent of its total revenues.
In October 2024 alone, Azercosmos OJSC exported services valued at $1.6 million to 40 countries.
During the reporting period, the OJSC exported satellite and telecommunication services to the UK (for $4.9 million), Luxembourg ($3.2 million), the UAE ($781,400), Pakistan ($560,000), and Türkiye ($547,200).
However, revenues from Azercosmos OJSC from satellite and telecommunication services amounted to $19.8 million in 2023 (by 25.56 percent, or $6.8 million less than in 2022). The OJSC implemented the export of satellite and telecommunication services to the UK (by $5.8 million), Luxembourg ($4.1 million), the UAE ($1.6 million), Germany ($1 million), and Nigeria ($724,900).
To note, according to the results of 2022, the revenues of Azercosmos OJSC from the provision of satellite and telecommunication services amounted to $26.6 million.
