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Azerbaijan increases oil exports by more than third in 9M2021

Oil&Gas Materials 10 November 2021 19:02 (UTC +04:00)
Azerbaijan increases oil exports by more than third in 9M2021

BAKU, Azerbaijan, Nov.9

By Leman Zeynalova – Trend:

Azerbaijan in 9M2021 increased oil exports by 31 percent in value terms compared to the same period last year, Trend reports referring to the Central Bank's monetary policy report.

According to the report, Azerbaijani exports of oil products increased 2.2 times, natural gas - by 57.6 percent.

During the reporting period, 46 percent of Azerbaijani exports of oil and oil products fell to Italy, six percent each - Spain, Israel and Croatia, five percent - India.

Exports from Azerbaijan as a whole in 9M2021 increased by 38.3 percent, and non-oil exports - by 41.1 percent compared to the same period last year.

According to the State Customs Committee, Azerbaijan's foreign trade turnover in the specified period amounted to $23 billion, of which $14.6 billion, or 63.5 percent, accounted for exports, and $8.3 billion, or 36.5 percent - for imports.

At the same time, the foreign trade balance amounted to $6.3 billion, which is 2.3 times more than during the same reporting period last year.

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Follow the author on Twitter: @Lyaman_Zeyn

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