Azerbaijan cuts oil exports 11.4% in Jan-Sept, Italy traditionally purchases around 40% - State Customs Committee

BAKU. Oct 17 (Interfax) - Azerbaijan cut exports of declared oil, stock-keeping unit 2709, 11.4% year-on-year to 17.609 million tonnes in January-September 2024, the country's State Customs Committee (SCC) said.

The overall value of exported oil declined 9.2% year-on-year to over $11.008 billion in the period. The share of oil in Azerbaijan's overall export structure rose to 55.44% from 45.79% in January-September 2023.

The SCC said that 23 countries purchased Azerbaijani oil in the reporting period, unchanged in September, with Italy remaining the main importer, accounting for 37.3% of supplies. Israel, the Czech Republic, India, and Croatia were also among the top five countries purchasing Azerbaijani oil.

Structure of Azerbaijan's oil exports in Jan-Sept 2024 by importing countries:

Countries volume, tonnes value, $ '000. TOTAL 17 608 860.22 11 008 329.94 Italy 6 575 258.94 4 164 017.95 Israel 2 372 438.38 1 464 048.63 Czech Republic 1 246 961.29 790 037.03 India 1 092 226.71 683 627.70 Croatia 1 005 081.15 627 001.41 Germany 704 051.53 460 804.01 Portugal 691 401.29 437 551.47 UK 650 115.40 390 895.78 Romania 498 906.73 299 958.57 Tunisia 381 622.34 243 140.43 Thailand 376 876.12 234 238.66 Turkey 352 514.56 193 012.44 Indonesia 277 046.95 161 651.83 Serbia 241 179.61 151 905.17 Greece 228 237.47 144 806.06 Ireland 174 283.74 110 428.45 Netherlands 168 985.69 106 838.99 Spain 166 327.26 96 479.12 Uruguay 138 719.62 85 099.83 Poland 90 150.50 57 363.56 France 89 712.83 57 085.07 Austria 85 868.91 47 903.69 Uzbekistan 893.20 434.09