EU countries spent about 6.8B euros on imports of Azerbaijani oil in 8 months

EU countries imported 10,970,981 tons of oil from Azerbaijan during January-August 2024, which is 23.2% lower than in the same period last year, Report informs referring to the European Union's statistical office (Eurostat).

The value of oil supplied from Azerbaijan to EU countries during the reporting period amounted to 6,792.355 million euros (a 19.6% decrease).

Among EU countries, the top five largest importers of oil from Azerbaijan in January-August were: Italy - 5,244,422 tons (32.5% decrease) worth 3.217.142 billion euros (29.4% decrease), Czech Republic - 1,712,834 tons (37.3% increase) worth 1.068.161 billion euros (42.1% increase), Portugal - 905,015 tons (2.5 times increase) worth 559.622 million euros (2.6 times increase), Germany - 993,652 tons (1.6 times increase) worth 617.423 million euros (1.7 times increase), and Croatia - 862,979 tons (3.9% decrease) worth 536.313 million euros (2.4% increase).

In August 2024, EU countries imported 1,773,401 tons of oil from Azerbaijan (15.4% increase) worth 1.066.460 billion euros (15.4% increase).

The top five oil buyers from Azerbaijan were: Italy - 718,102 tons worth 427.091 million euros, Czech Republic - 237,210 tons worth 145.140 million euros, Germany - 335,130 tons worth 203.867 million euros, Portugal - 227,303 tons worth 136.835 million euros, and Croatia - 166,252 tons worth 99.782 million euros.

As previously reported by Eurostat, in 2023 EU countries imported about 20.3 million tons of oil from Azerbaijan (2.6% increase compared to 2022) worth approximately 12.4 billion euros (18% decrease).