Aussie merchandise exports to India stands at A$215 bln in FY07

Melbourne, 3 Aug (UNI) A significant increase in merchandise exports to India has helped Australian exports reach a record figure of A5 billion in 2006-07.

The merchandise exports to India have increased by 37 per cent to jettison the South Asian country to a number four spot in the list of Australia's merchandise export markets.

Three Asian economic powerhouses Japan, China and Korea are in front of India on the list. But India has got past New Zealand, the United States and the United Kingdom as the destination of Australian merchandise exports.

There has been an overall increase of 10 per cent in exports while imports by Australia have also gone up by eight per cent, according to a statement issued by the Australian Government Minister for Trade, Mr Warren Truss.

''This is a very positive result for the year just gone, with further strong growth expected by Treasury and exporters themselves in the present year,'' Mr Truss has said.

With Chinese and Indian economies growing at breakneck speed, the Australian exports of manufactures, resources and services reached all-time highs.

The merchandising exports to China have increased by 26 per cent in the last financial year.

Besides China and India, North Asia continues to be the largest export region for Australia with merchandise exports up by 11 per cent in 2006-07.

The only sector where Australia has not done well is in rural exports. An ongoing nationwide drought is being held responsible for a fall in rural exports.

The trade deficit on goods and services fell by, according to the Trade Minister's statement, A Melbourne, 3 Aug (UNI) A significant increase in merchandise exports to India has helped Australian exports reach a record figure of A$215 billion in 2006-07.

The merchandise exports to India have increased by 37 per cent to jettison the South Asian country to a number four spot in the list of Australia's merchandise export markets.

Three Asian economic powerhouses Japan, China and Korea are in front of India on the list. But India has got past New Zealand, the United States and the United Kingdom as the destination of Australian merchandise exports.

There has been an overall increase of 10 per cent in exports while imports by Australia have also gone up by eight per cent, according to a statement issued by the Australian Government Minister for Trade, Mr Warren Truss.

''This is a very positive result for the year just gone, with further strong growth expected by Treasury and exporters themselves in the present year,'' Mr Truss has said.

With Chinese and Indian economies growing at breakneck speed, the Australian exports of manufactures, resources and services reached all-time highs.

The merchandising exports to China have increased by 26 per cent in the last financial year.

Besides China and India, North Asia continues to be the largest export region for Australia with merchandise exports up by 11 per cent in 2006-07.

The only sector where Australia has not done well is in rural exports. An ongoing nationwide drought is being held responsible for a fall in rural exports.

The trade deficit on goods and services fell by, according to the Trade Minister's statement, A$2.5 billion to A$12 billion in 2006-07, which is still well below A$22.6 billion mark recorded in 2004-05.

UNI XC SBA RS1209 .5 billion to A billion in 2006-07, which is still well below A.6 billion mark recorded in 2004-05.

UNI