In January-July 2023, the trade turnover between Azerbaijan and Singapore amounted to USD 98,935,000, according to calculations done by APA-Economics based on the report by the State Customs Committee.
The volume of the indicator is 4.8 times or USD 78,451,000 more in comparison with the corresponding period of 2022.
Note that, during the reporting period, the volume of exports from Azerbaijan to Singapore increased 79 times and equaled USD 88,051,000, the volume of imports from Singapore to Azerbaijan decreased by 44% and amounted to 10,883,000.
99.6% of Azerbaijan's export to Singapore was crude oil product. In the first 7 months of the current year, Azerbaijan exported 138,338 tons of oil worth USD 87,786,000 to Singapore.