Italy accounts for nearly 35% of oil exported by Azerbaijan in Q12024

Azerbaijan exported 1,930,858.25 tons of crude oil, valued at $1,233,891,320, to Italy in the first quarter of 2024, Report informs, citing the State Customs Committee.

This shows a decrease of 14.1 percent in volume and 14.2 percent in value compared to the same period in 2023.

In general, the share of crude oil exported to Italy in the total oil exports of Azerbaijan was 34.47 percent.

In January-March 2024, Azerbaijan exported a total of 5,600,505.94 tons of crude oil and oil products obtained from bituminous rocks, valued at $3,490,147,940.

Over the course of three months, Azerbaijan conducted trade transactions with foreign countries worth $9.696 billion.

Export operations accounted for $5.984 billion, and imports for $3.712 billion.