Azerbaijan’s oil exports to Israel surge by over 35%

Azerbaijan exported just over 1.83 million tons of crude oil to Israel valued at more than $1.123 billion in the first half of 2024, Report informs, citing the State Customs Committee.

According to the obtained data, the exports rose by 35.2 percent in volume and 36.6 percent in value compared to the corresponding period of 2023.

During the reporting period, the share of crude oil exported to Israel in Azerbaijan’s total oil exports was 12.46%.

Overall, Azerbaijan exported 14.696 million tons of crude oil and related products obtained from bituminous rocks, valued at just over $9.225 billion from January through July 2024.

During the reporting period, Azerbaijan conducted trade transactions with foreign countries worth just over $26.892 billion. Of that, $16.099 billion accounted for exports and just over $10.793 billion fell to imports. Over the past year, exports decreased by 22.5%, while imports increased by 12.9%.