Azerbaijan posts decline in exports of petroleum products

Azerbaijan exported just over 461,862 tons of petroleum products, valued at almost $292.4 million in the first nine months of 2024, Report informs, citing the country’s State Customs Committee.

According to the customs declarations, the exports decreased by 38.6 percent in volume and dropped by 36.4 percent in value compared to the same period of last year.

The share of petroleum products in Azerbaijan’s total exports for the reporting period was 1.47%.

Overall, Azerbaijan conducted trade transactions with foreign countries worth over $34.498 billion in January-September of 2024. Of that, $19.855 billion accounted for exports and $14.643 billion fell to imports. Over the past year, exports decreased by 25 percent, while imports increased by 16 percent.