Azerbaijan’s oil exports to Israel rise by 50%

Azerbaijan exported over 1.583 million tons of crude oil to Israel, valued at just over $989 million in the first half of 2024, Report informs, citing the State Customs Committee.

According to the obtained data, the exports grew by 55 percent in volume and 56.67 percent in value from the corresponding period of 2023.

The share of crude oil exported to Israel in Azerbaijan’s total oil exports was 14.27%.

Overall, Azerbaijan exported just under 11.1 million tons of crude oil and related products obtained from bituminous rocks, valued at just over $7.012 billion in January-June of 2024.

During the reporting period, Azerbaijan conducted trade transactions with foreign countries worth just over $21.768 billion in the initial six months of 2024, representing a 16.8% decline year-on-year. Of that, $12.901 billion accounted for exports and just over $8.867 billion fell to imports.