Azerbaijan exported 530,165 tons of crude oil to Germany, valued at just over $348.3 million during the initial seven months of 2024, Report informs, citing Azerbaijan’s State Customs Committee.
According to the obtained data, this is a decrease of 20 percent in volume and 14.4 percent in value compared to the same period last year.
Germany accounted for 3.61% of Azerbaijan’s total crude oil exports for the reporting period.
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 that 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%.