Azerbaijan’s oil exports to India down by 8%

Azerbaijan exported nearly 1.03 million tons of crude oil to India valued at nearly $646.78 million in January-August 2024, Report informs, citing the State Customs Committee.

According to the committee, the exports went down by 8.3 percent in volume and 2.96 percent in value compared to the corresponding period of 2023.

During the reporting period, the share of crude oil exported to India was 6.25% in Azerbaijan’s total oil exports.

Overall, Azerbaijan exported 16.475 million tons of crude oil and related products obtained from bituminous rocks, valued at just over $10.308 billion from January through August 2024.

During the reporting period, Azerbaijan conducted trade transactions with foreign countries worth just over $30.995 billion. Of that, $18.232 billion accounted for exports and just over $12.764 billion fell to imports. Over the past year, exports decreased by 25.1%, while imports increased by 14.5%.