In the article, analyzes were made in the direction of ensuring macroeconomic stability, accelerating the process of diversification in the national economy based on sustainability, sustainable development of the non-oil sector, further increasing the role of the fiscal, including alternative energy sector in economic development, ensuring financial stability in the country and building a competitive economy in general. Also, special attention was paid to the prospects of increasing the competitiveness of our country in the world due to the expansion and improvement of the export structure, and the main directions of the strategy aimed at increasing the international competitiveness were examined. Due to the development of the non-oil sector, the development opportunities of other sectors of the economy were investigated.

The purpose – The purpose of the conducted research is to reveal the directions of the formation of a sustainable competitive environment and to determine the competitive strategy in the context of the expansion of international economic relations. Considering that ensuring the diversified development of the economy is of great importance both at the state level and for companies, its importance for a sustainable public-private partnership in the future is inevitable. Another goal is to determine prospects for access to foreign markets with a wider variety of goods, taking into account the potential competitive opportunities of the domestic market with a systematic analysis of the economy. For this, the article examines the structure and geography of exports from a qualitative point of view.

Methodology – the methods of comparison, analysis and synthesis were used in the research and investigation process. Also, the theoretical and methodological bases of the research are induction and deduction, economic-mathematical statistical methods, decrees and orders of the President of the Republic of Azerbaijan.

The result of the study – the current state of diversification of the economy in the Republic of Azerbaijan and the development trend have been studied. Extensive statistical solutions have been presented in the direction of developing the national economy of the independent Republic of Azerbaijan at the expense of the non-oil sector, creating an environment and sectors that allow it to produce competitive products in regional and international markets. Important information was provided in the direction of solving the issues arising from “Azerbaijan 2030: National Priorities for socio-economic development” and building a sustainable economy that meets the new challenges of the changing world.

Keywords: macroeconomic stability, competitive diversification, economic sustainability, competitive industrialization