BAKU, Azerbaijan, February 5. The volume of trade operations between Azerbaijan and Australia in 2024 amounted to $1.5 billion.
The data obtained by Trend from the country's State Customs Committee shows that this figure increased by $1.4 billion (35.7 percent) year-on-year.
Trade turnover with Australia amounted to 3.07 percent of Azerbaijan's total trade turnover in the reporting period.
Azerbaijan exported products worth $203,000 to Australia in 2024, which is $29 million, or 144 times less than in the same period in 2023.
Azerbaijan's imports from Australia surged by $1.4 billion in 2024, a more than 125-fold increase, bringing the total to $1.5 billion. Trade operations with Australia during this period accounted for 6.95 percent of Azerbaijan's total imports.
To note, Azerbaijan struck deals with foreign nations, engaging with 180 countries and raking in a whopping $47.6 billion in 2024. This figure represents a dip of $3.6 billion, or 7 percent, when stacked up against 2023. Exports made up a whopping $26.5 billion of the external trade pie, while imports took a slice of $2.6 billion.
Over the last year, exports fell by $7.3 billion, or 21.7 percent, while imports increased by $3.8 billion, or 21.8 percent.