Azerbaijan increases its income from oil exports

From January through June 2022, according to customs declarations, Azerbaijan exported over 12.915 million tons of crude oil and crude oil products obtained from bituminous rocks, Report informs, citing the State Customs Committee.

According to the committee, the country earned over $9.361 billion from these exports.

In January-June 2022, the amount of exported oil products is 4.7% less than in the same period of 2021, but their monetary value increased by 63%.

The share of these products in the total export of Azerbaijan was 50.66%.

In the first six months of 2022, Azerbaijan conducted trade transactions with foreign countries worth $24.836 billion, 74.9% more than a year ago.

In the last six months, $18.479 billion of foreign trade turnover accounted for exports and $6.357 billion for imports. Over the past year, exports increased by 2.1 times, and imports by 17.9%.

As a result, a positive balance of $12.122 billion (3.5 times more than a year ago) was formed in foreign trade.