AZERBAYCAN CUMHURİYETİ'NDE PETROL DIŞI SEKTÖRÜN İHRACAT POTANSİYELİ
EXPORT POTENTIAL OF NON-OIL INDUSTRY IN THE REPUBLIC OF AZERBAIJAN

Summary/Abstract: The article analyzes the situation in the non-oil sector of Azerbaijan according to 2020 statistics. The country's specialization in the export of the oil sector has led to delays in the development of the non-oil sector. For this reason, the share of the non-oil sector in exports has been small and production has been weak. The main priority of this article is to study the development of non-oil industries, to identify mechanisms to increase export potential, to find solutions to future problems. The country's sufficient resources have allowed the nonoil sector to enter a new stage of development and implement projects. However, despite the abundance of resources, the development of the non-oil industry in the country is weak. The most important of these is the weak development of the processing industry. The development of the non-oil industry is considered important for increasing government revenues, increasing export earnings, replacing imports, increasing the range of industrial products. The step taken by the President to manage oil and gas revenues has led to the creation of sustainable financial resources, which has simplified financial security and investment in the development of industry. As a result, industrial parks and neighborhoods have been established in our country in accordance with international standards. It is very important in the selection of investment areas. For example, Azerbaijan mainly imports equipment. Investing in information technology will not be successful. Instead, it will be more successful to meet domestic demand, replace imports, and attract investment in areas with export potential (agricultural industry, agrarian industry).

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