Azerbaijan’s 8-month crude oil exports surpass 16M tons

Azerbaijan exported nearly 16.5 million tons of crude oil and petroleum products obtained from bituminous rocks, valued at over $10.308 billion during the first eight months of 2024, Report informs, citing the country’s State Customs Committee.

According to the customs declarations, the exports dropped by 10.9 percent in volume and 8.2 percent in value compared to the corresponding period in 2023.

From January through August 2024, the share of crude oil and petroleum products obtained from bituminous rocks in Azerbaijan’s total exports was 56.54 percent.

Overall, 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 just over $12.763 billion fell to imports. Over the past year, exports decreased by 25 percent, while imports increased by 14 percent.