Italy remains top buyer of Azerbaijani oil

In January-November 2024, Azerbaijan exported 9,862,810.89 tons of crude oil worth $6.14 billion to Italy, according to Azerbaijan’s State Customs Committee, Report informs.

The volume of crude oil exports from Azerbaijan to Italy decreased by 5.6%, and the value decreased by 7.8% compared to the same period in 2023.

The share of crude oil exported from Azerbaijan to Italy in total oil exports was 45.75%. Thus, Italy remained as the top importer of the Azerbaijani oil.

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.