Azerbaijan earns $8 billion from oil exports despite volume drop

Azerbaijan’s oil export revenues increased in the first seven months of 2026 despite a decline in the volume of crude shipped abroad.

Azerbaijan exported 12.72 million tons of oil in January-July, down 12.1% from the same period a year earlier, Caliber.Az reports, citing the State Customs Committee.

Despite the decline in export volumes, the value of oil exports rose 4.9% year-on-year to $8.033 billion.

Oil accounted for 41.54% of Azerbaijan’s total exports during the reporting period, compared with 50.31% in January-July 2025, indicating a reduced share of crude in the country’s overall export structure.

For comparison, Azerbaijan exported 23.38 million tons of oil worth $12.091 billion in 2025. Export volumes declined by 0.9%, while the value of oil exports fell by 16.3% over the year.

By Vafa Guliyeva