Abstract

ARIF SHAKARALIYEVA, Zibeyda. Analysis on the export potential in Azerbaijan beyond oil sector. Universidad y Sociedad [online]. 2023, vol.15, n.2, pp. 523-535.  Epub Apr 30, 2023. ISSN 2218-3620.

There are several reasons why it is important not to depend economically on oil, among which we can mention that oil is a finite resource, so it is not sustainable to depend on it permanently, burning oil has negative environmental impacts, and from an economic point of view, dependence on oil can be risky since fluctuations in the price can have a significant impact on the economy of a country that depends on it. For these reasons, it is important to seek sustainable and renewable alternatives to oil as an energy source, as well as to diversify national economies in order to make them more stable and consolidated. Taking the above into account, the objective of this work is to analyze the export potential in Azerbaijan beyond the oil sector, emphasizing in its temporal evolution and the challenges and opportunities of the current economic scenario. In order to analyze the essence of this problem, which has a complex and systemic nature, the main points, priorities and objectives of economic policy, especially the concept of foreign trade in Azerbaijan, were indicated. Thus, on the basis of the analysis of foreign trade turnover in Azerbaijan, the possibilities of increasing the non-oil export potential have been investigated. The problems to be discussed and deepened on the export potential of the non-oil sector are pointed out, and taking into account the prospects, proposals withe the potential of improving the non-oil sector economy in Azerbaijan.

Keywords : Azerbaijan; Non-oil sector export potential; Economic diversification.

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