Azernews.Az

In 2025, Azerbaijan exported 803.4 thousand tons of crude oil and petroleum products obtained from bituminous rocks to Portugal, earning $430.7 million from these shipments, Azernews reports, citing the State Customs Committee.

This marked a 31.8 percent decrease in value and a 20.1 percent drop in volume compared to the same period in 2024.

Historical comparison:

• In 2024, Azerbaijan exported 1,165 thousand tons of oil and petroleum products to Portugal, valued at $726 million.

• Data from 2023 show that Portugal’s imports from Azerbaijan were significantly lower than in both 2024 and 2025; overall volume declined to around 631 300 tons in 2023 from about 1.1 million tons in 2022, according to Portugal’s National Statistical Institute data. The value of those imports in 2023 was estimated at around €404.6 million, down from about €816.5 million in 2022 (equivalent to roughly $440 million and $890 million, respectively, based on average yearly exchange rates).

Despite the drop in exports to Portugal, Azerbaijan’s overall shipments of crude oil and petroleum products remained robust in 2025, with 23.4 million tons exported to 21 countries worldwide, generating $12.1 billion in revenue. Compared with 2024, export revenues declined by $2.4 billion (16.2 percent), while physical volumes rose modestly by 215 thousand tons (0.9 percent). Exports of these products accounted for 48.28 percent of Azerbaijan’s total export volume in 2025.

Portugal ranked sixth among the destinations for Azerbaijani oil and petroleum products last year, reflecting its continuing role as a notable, albeit smaller, market for Baku’s energy exports.