BAKU, Azerbaijan, June 19. Azerbaijan exported 4.7 million tons of oil and oil products to Italy from January through May 2022, which is 41.6 percent of the total Azerbaijani export of raw materials, Azerbaijan’s State Customs Committee told Trend.
According to committee, Azerbaijani export of oil and oil products to Italy, in value terms, amounted to about $3.3 billion in the reporting period.
Azerbaijan totally exported over 11.3 million tons of oil and oil products from January through May 2022, which is 4.5 percent or about 537,470 tons less than the same period last year. Oil exports, in value terms, exceeded $8.05 billion, which is 63.5 percent or $3.1 billion more than from January through May 2021.
The trade turnover between Azerbaijan and Italy amounted to over $7.6 billion in this period, which is 2.6 times or more than $4.8 billion more than from January through May 2021.
Azerbaijan's foreign trade turnover increased by 73.8 percent or $8.7 billion from January through May 2022 compared to the same period last year - from $11.8 billion to $20.5 billion.
Exports, in the structure of foreign trade turnover, accounted for $15.4 billion, which is $7.9 billion (107.5 percent) more than from January through May 2021. The share of exports in the foreign trade turnover amounted to 75.01 percent against 62.8 percent a year earlier.
Azerbaijan's import period increased by $724.6 million or 16.91 percent in the reporting, from $4.3 billion to $5.1 billion. The share of imports in foreign trade turnover amounted to 24.9 percent against 37.1 percent a year earlier.