Azerbaijan reveals volume of 8-month crude oil exports to Türkiye

Azerbaijan exported just over 314,287 tons of crude oil, valued at approximately $173.2 million to Türkiye in the first eight months of 2024, Report informs, citing the State Customs Committee of Azerbaijan.

Compared to the corresponding period in 2023, this is a sharp decrease of 3.4 times in volume and 3.5 times in value.

During the reporting period, the share of crude oil exported to Türkiye in Azerbaijan's total oil exports stood at 1.9%.

Overall, Azerbaijan exported just under 16.476 million tons of crude oil and related products obtained from bituminous rocks, valued at more than $10.3 billion in January-August 2024.

During the reporting period, Azerbaijan conducted trade transactions with foreign countries worth over $30.995 billion in the initial eight months of 2024. Of that, $18.231 billion accounted for exports and $12.763 billion fell to imports. Over the past year, exports decreased by 25 percent, while imports increased by 14 percent.