Azerbaijan’s crude oil exports exceeded 23.5M tons in 2024

In 2024, Azerbaijan exported just over 23.596 million tons of crude oil and petroleum products obtained from bituminous rocks, valued at over $14.437 billion, Report informs, citing the country’s State Customs Committee.

According to the customs declarations, the exports dropped by 9.4 percent in volume and 11.1 percent in value compared to 2023.

The share of crude oil and petroleum products obtained from bituminous rocks in Azerbaijan’s total exports was 54.37 percent.

Overall, Azerbaijan conducted trade transactions with other countries worth over $47.612 billion in 2024. Of that, more than $26.554 billion accounted for exports and $21.058 billion fell to imports. Over the past year, exports decreased by 21.7 percent, while imports grew by 21.8 percent.