Germany reduces oil imports from Azerbaijan by nearly 14%

In January-November 2024, Azerbaijan exported just over 1 million tons of crude oil to Germany, according to the State Customs Committee of Azerbaijan, Report informs.

The value of the oil exports to Germany amounted to $634.44 million.

Compared to the same period last year, the volume of exported oil decreased by 13.7%, and its value went down by 16.4%.

During the 11 months, crude oil exports to Germany accounted for 4.65% of Azerbaijan's total oil exports.

According to customs declarations, in January-November 2024, Azerbaijan exported 21,555,781.63 tons of crude oil and petroleum products obtained from bituminous rocks worth $13.3 billion.

During the reporting period, Azerbaijan conducted trade operations worth $43.1 billion with foreign countries. Of the trade turnover, exports accounted for $24.34 billion, while imports accounted for $18.77 billion.