Italy increases oil imports from Azerbaijan

In January-September 2023, Azerbaijan exported over 7.985 million tons (5.65% more year-on-year) of crude oil to Italy worth $4.986 billion (12.12% less YoY), Report informs, citing the State Customs Committee of Azerbaijan (SCC).

The share of crude oil exported to Italy in total oil exports of Azerbaijan amounted to 40.17%.

In January-September 2023, Azerbaijan, according to customs declarations, exported crude oil and oil products from bituminous rocks for $19.876 million. The cost of production in this volume amounted to $12.128 billion.

In January-September 2023, Azerbaijan conducted trade operations with foreign countries in the amount of $39.103 billion with exports accounting for $26.489 billion and imports responsible for $12.614 billion.