Azerbaijan-Australia trade sees 27-fold increase

The trade turnover between Azerbaijan and Australia has surged significantly, reaching a total of $1,37 billion in the first ten months of this year, the State Customs Committee said.

This figure marks an impressive increase of $997,8 million, or 27.1 times higher, compared to the same period last year, Caliber.Az reports via local media.

For the reporting period, trade with Australia accounted for 2.63 per cent of Azerbaijan's total trade turnover.

Despite the overall trade boom, Azerbaijan's exports to Australia stood at $114 thousand, reflecting a sharp decline of 99.6 per cent year-on-year.

In contrast, imports from Australia saw a dramatic rise of 115.1 times, reaching $1,36 billion. Imports from Australia made up 6.23 per cent of Azerbaijan's total imports during this period.

By Vafa Guliyeva