India’s exports to Australia in 2004 were A$ 1.12 billion or 14.6% higher than the corresponding figure of A$ 977.7 million in 2003. India’s imports from Australia in 2004 recorded A$ 5.42 billion or a 62.7% higher than the 2003 figure of A$ 3.33 billion. In 2004, the balance of trade of A$ 4.29 billion was in Australia’s favour.

Indian imports from Australia in 2004 comprised largely of mineral resources. Non-monetary gold contributed A$ 2.87 billion or 43.9% of total exports from Australia. Coal contributed A$1.19 billion or 17.2% of total Australian exports. These two commodities taken together contributed to a total of over 60% to Australia’s export basket to India. Most of the other commodities in Australia’s exports to India were also largely from the extractive industry sector. India’s exports to Australia were largely dependent on traditional commodities. Pearls, precious and semi-precious stones topped the export basket followed by made-up articles of textiles.

For the fiscal year July 2003-June 2004 India ranked 7th as Australia’s export destination (6th export destination in calendar year 2004) with a share of 4.5% in terms of overall exports. India ranked 26th as Australia’s import source with 0.8% market share in Australia’s total imports. It ranked 13th as Australia’s overall trading partner.

The top ten commodities forming India’s exports to Australia in 2004 and the top ten Australian exports to India in 2004 are given in the table below:

The following table indicates total bilateral trade between India and Australia over the last five year period between 2000 and 2004:

India’s trade with the States and territories of Australia
India’s trade with the various States and territories of Australia is tabulated below:

India’s exports to the States and territories of Australia
The composition of India’s exports State-wise is depicted graphically below:

Victoria ranks as is the largest export destination for India accounting to 36% of overall Indian exports; followed by New South Wales with 34%; Queensland 15%; Western Australia 10%; South Australia 4%; and others 1%.

India’s imports from the States and territories of Australia
The composition of India’s imports State-wise is depicted graphically below:

Western Australia is India’s largest import source with imports amounting to 58% of overall Indian imports from Australia, followed by Queensland with 21%; New South Wales 8%;Victoria 4%; South Australia 2%; Tasmania 2% and others 5%.