India - Australia Trade 2023 Overview

 India and Australia’s trade relations strengthened over the years. The trade pact between India and Australia has eased trade restrictions between the two countries. India import export data shows that the bilateral trade between India and Australia reached $13.55 billion in 2023. Whereas, last year’s trade value was $13 billion in 2022. 

According to India import data, the imports from Australia hit a record $7.75 billion in 2023.  Coal was the most imported item by India from Australia. Over $5.2 billion worth of coal was imported from Australia during last year. Anglo American Australia was the biggest coal export company from Australia responsible for the maximum number of coal shipments to India last year.

Gold was the second major import from Australia with imports worth $597 million during 2023. Vintage Bullion was the top gold supplier from Australia with maximum shipments in the last financial year. In terms of import value, India’s other prominent imports from Australia include copper ($298 Million), dried legumes ($248 Million) , ferrous waste ($162 Million), cotton yarn ($99 Million)  and aluminium scrap ($80 Million).

Whereas, India’s exports to Australia were 14% more as compared to previous year. As per India export data, exports to Australia were estimated to be around $5.8 Billion during last year. India;s top exports to Australia include synthetic yarn, electric conductor, railway, nylon, containers, air covered yarn, mineral fuels, oils, insecticides and leaf springs.

Synthetic yarn was the most imported item by Australia from India during last year. Synthetic yarn fibres items were responsible for nearly 27% share of Australia’s overall imports from India. Nearly 1 billion worth of synthetic fibres were exported to Australia in 2023. Electrical equipment was the second most exported item to Australia with 6.5% market share.

Australia imported nearly $307 million worth of electrical equipment last year. Railway was the third major export of India to Australia with nearly $290 million during last year. Whereas, other import items include nylon ($261 Million), containers ($145 Million), air-covered yarn ($138 Million), mineral fuels, oils, ($137 Million), insecticides ($114 Million) and leaf springs ($113 Million).

Aym Syntex was the biggest supplier of India responsible for the 31% share of India's overall exports to Australia during last year. KEI Industries, Alstom Industries and Gandhar Oil Refinery were the top 3 export companies from India to Australia. Whereas, Alstom Australia was the biggest import company from Australia responsible for 65% share of exports in 2023. India exports had seen positive growth across Australia last year. Recently, Australia has become a profound market for India's exports of gold, jewellery, tractors and garments. 

India export companies can exploit export opportunities in the Australian market through global import export data provider. It will assist companies help find Australian buyers with ease through the database of verified Australian importers. Also, companies can analyze the demand for their products from the Australian market. Global trade data reports could assist product pricing, quantity evaluation, market risks and competitor analysis.

A data driven approach is the most economical and best way to drive leads from the international market. It is the most affordable and easy way to reach out to genuine clients from over 200+ countries. There are various KPI’s and metrics that help companies streamline their workflow and achieve their ROI.