Baku: Azerbaijan has reported a significant increase in its oil product exports during the first quarter of the year. The country exported 122,386.13 tons of oil products, valued at USD 56.72 million, from January to March.

According to Azeri-Press News Agency, the latest figures were derived from calculations by APA-Economics, based on data published by the State Customs Committee. The export volume increased by 16.3% compared to the same period in 2024. However, despite this rise in volume, the export value saw a decline of 9.7%.

For context, in the previous year, Azerbaijan exported 537,628.46 tons of oil products, generating USD 334.92 million. This represented a decrease of 41.5% in export value and 41.9% in volume compared to 2023.