Baku: Azercosmos, the Azerbaijan Space Agency, witnessed a significant decline in its export revenues from satellite telecommunications services in the first five months of this year.
According to Azeri-Press News Agency, the agency exported satellite telecommunications services worth millions of US dollars to 40 countries worldwide, marking an 11.4% decrease compared to the same period last year.
The data, sourced from the June issue of the Export Review by the Center for Analysis of Economic Reforms and Communication, reveals that in the first five months, revenues from Azercosmos’s service exports constituted 65% of its total income. In May alone, Azercosmos exported services valued at 1.4 million US dollars to 33 countries.
During this period, the United Kingdom emerged as the top destination for Azercosmos’s satellite telecommunications services, accounting for 1.9 million US dollars. Following closely were Luxembourg with 1.5 million US dollars, Nigeria with 345.6 thousand US dollars, Turkey with 300.6 thousand US dollars, and Egypt with 298.2 thousand US dollars.