In a remarkable shift in trade dynamics, Croatia has significantly increased its oil imports from Azerbaijan during the first two months of 2025. Official figures from Azerbaijan’s State Customs Committee reveal that from January to February 2025, Croatia sourced 338,900 tons of crude oil and derivatives, totaling a staggering $188.2 million.
To put this into perspective, this amount marks an increase of $137.7 million—an impressive 3.7-fold rise in value—compared to the same period in 2024. In terms of volume, the increase represents an extra 259,700 tons, or 4.3 times more than last year’s figures.
This significant uptick in purchases has positioned Croatia as the fourth-largest destination for Azerbaijani oil, showcasing the growing importance of this bilateral trade relationship. According to Trend reports, during the same timeframe, Azerbaijan exported a total of 4.8 million tons of crude oil and oil products, yielding an overall revenue of $2.7 billion.
Analysis of these figures suggests a broader trend of increasing demand for Azerbaijani petroleum resources, fueled by Croatia’s growing economic needs and energy diversification strategies. Furthermore, the overall trade operations between the two nations reached $189.2 million, a substantial increase of 3.7 times compared to the previous year.
"In January-February 2025, 338.9 thousand tons of crude oil and oil products from bituminous rocks worth 188.2 million US dollars were exported from Azerbaijan to Croatia," a spokesperson from the State Customs Committee remarked. This figure is not only substantial in absolute terms, but also indicative of the deepening economic ties between the two nations.
With Croatia’s rapid increase in oil imports, the country's ranking climbed to the fourth position among the top oil-importing nations from Azerbaijan. This enhanced status is further underscored by the report that trade turnover with Croatia now constitutes approximately 2.12% of Azerbaijan’s total trade turnover.
To further highlight the significance of this development, reports indicate that the total foreign trade turnover of Azerbaijan during January-February 2025 amounted to an impressive $8.9 billion—a growth of $1.7 billion or 23.2% compared to the same months in 2024. This dynamic underscores a successful year for Azerbaijani exports, with the oil sector driving much of the growth.
In addition to the rise in exports, it’s noteworthy that, while Azerbaijan is experiencing a boost in oil sales to Croatia, the latter’s exports to Azerbaijan recorded a modest $966,000, reflecting a decrease of 2.9% year-on-year. Nonetheless, this slight decline in imports from Croatia does not overshadow the burgeoning relationship represented by the oil trade.
In summary, Azerbaijan’s oil industry continues to thrive, standing at the forefront of its economic growth story. The increasing volumes of oil exported to Croatia signal not only mutual economic benefits but also an opportunity for Azerbaijan to solidify its role in the European energy market.
As nations across Europe seek more reliable and diverse energy sources, Azerbaijan's strategic geography and resources present a vital opportunity for further expansions in trade and cooperation. With each passing month, the trade relationship is shaping up to be a critical component of economic stability and energy security for both nations.
Given the current trajectory, it’s reasonable to anticipate further growth as both countries explore additional avenues for collaboration in the energy sector, reflecting the importance of strong international partnerships in an ever-evolving global market.
