BAKU, Azerbaijan, March 17. A total of 111,000 tons of oil products (except crude products, oil, and oil products derived from bituminous rocks; products with oil or oil products content of 70 percent by weight or more) were exported from Azerbaijan from January through February of this year.
The data obtained by Trend from the State Customs Committee shows that the fiscal yield generated from the exportation of this volume of goods totaled $49.6 million.
The exportation of petroleum derivatives surged by 51,000 metric tons, reflecting an impressive 84.2 percent escalation in quantitative metrics, alongside a valuation uptick of $14.1 million relative to the corresponding timeframe of the previous fiscal year.
Consequently, during the corresponding timeframe of the previous fiscal year, a total of 60,000 metric tons of petroleum derivatives, with a market valuation of $35.5 million, were dispatched from Azerbaijan's export portfolio.
The volume of foreign trade turnover in Azerbaijan for the reporting period amounted to $8.9 billion. This figure is $1.7 billion, or 23.2 percent more than in the same period last year. The volume of Azerbaijan's foreign trade turnover from January through February of last year amounted to $7.2 billion.
In the context of trade dynamics, the export segment constituted $4.8 billion, while the import segment reached $4.1 billion. This reflects a decrement of $13 million (0.3 percent) in exports and a substantial increment of $1.7 billion (69.2 percent) in imports compared to the previous fiscal year.
The international trade surplus registered at $628 million, reflecting a decrement of $1.7 billion, or a contraction of 3.7 times compared to the preceding fiscal year.