EU countries spent over €8.4B on oil purchases from Azerbaijan in Jan.-Oct.2024

European Union (EU) countries imported 13,910,934 tons of oil from Azerbaijan in January-October 2024, Report informs, citing the European Union Statistical Office (Eurostat).

This figure is 20.1% less compared to the corresponding period of 2023.

During the reporting period, the value of oil supplied from Azerbaijan to EU countries amounted to 8.436 billion euros (20.2% less YoY).

The top five EU countries importing oil from Azerbaijan in the first 10 months of 2024 were: Italy - 6,388,527 tons (35.2% less) worth $3.85 billion euros (35.5% less), Czech Republic - 2,153,096 tons (32.7% more) worth $1.326 billion euros (32.6% more), Portugal - 1,042,404 tons (2.1 times more) worth 640.165 million euros (2.1 times more), Germany - 1,245,466 tons (48.8% more) worth 754.152 million euros (49.1% more), Croatia - 1,293,596 tons (12.4% more) worth 771.185 million euros (10.3% more).

In October, EU countries imported 1,635,452 tons (24.3% more) of oil worth 904.583 million euros (1.4% less) from Azerbaijan.

The top five oil-importing countries from Azerbaijan in October were: Italy - 733,195 tons worth 409.544 million euros, Croatia - 261,953 tons worth 141.262 million euros, Czech Republic - 230,071 tons worth 131.793 million euros, Germany - 236,052 tons worth 128.041 million euros, Greece - 124,804 tons worth 579.802 million euros.

According to Eurostat, in 2023, EU countries imported approximately 20.3 million tons of oil (2.6% more compared to 2022) worth about 12.4 billion euros (18% less) from Azerbaijan.