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Azerbaijan exported most of its oil to Italy in 9M2021 - State Customs Committee

Oil&Gas Materials 19 October 2021 14:20 (UTC +04:00)
Azerbaijan exported most of its oil to Italy in 9M2021 - State Customs Committee

BAKU, Azerbaijan, Oct.19

By Sadraddin Aghjayev - Trend:

Azerbaijan exported most of its oil to Italy from January through September 2021, Trend reports on Oct.19 with reference to the Azerbaijani State Customs Committee (SCC).

According to the committee, this figure amounted to nearly 9.5 million tons, making up 47 percent of the total oil export by Azerbaijan.

In value terms, the oil export to Italy for the first nine months of this year exceeded $4.3 billion, the committee said.

Totally, Azerbaijan exported over 20.2 million tons of oil to foreign countries in the reporting period, which is by nearly 1.5 million tons or 7.1 percent less on annual basis.

Meanwhile, the total value of Azerbaijan’s oil export abroad exceeded $9.3 billion, up by $2.1 billion or 23 percent compared to the first nine months of 2020.

The trade turnover between Azerbaijan and Italy from January through September 2021 made up nearly $5.6 billion, which is a growth of $2.5 billion (44.8 percent) year on year.

At the same time, Azerbaijan's foreign trade turnover amounted to $22.9 billion, up by $4.5 billion (24.8 percent) compared to the same period of last year ($18.4 billion).

Some $14.6 billion accounted for export in the structure of the foreign trade turnover during the reporting period, which is by $4 billion (38.2 percent) more than in the same period of 2020. The share of export reached 63.68 percent against 57.49 percent a year earlier.

Meanwhile, Azerbaijan's imports exceeded $8.3 billion, increasing by $521 million or 6.65 percent compared to the same period of 2020 ($7.8 billion). The share of imports in the foreign trade turnover amounted to 36.32 percent against 42.51 percent a year earlier.

The balance of foreign trade turnover on annual basis increased by over $3.5 billion (128 percent), and, remaining positive, amounted to $6.2 billion, added the SCC.

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