Though Australia is a large economy, integrated into international trade channels, Pakistan has sup-optimal trade levels with Australia. During the period 2016-20, Australia was the 24th largest trading nation in the world but 30th largest trading partner of Pakistan. It means that Pakistan is trading less with Australia than Australian global trade ranking. On the other hand, Pakistan was the 60th largest trading nation of the world but 31st largest trading partner of Australia. It
means that Australia is trading more with Pakistan than Pakistan’s global trade ranking. Pakistan’s bilateral trade with Australia in the Financial Year 2020-21 (Jul-Jun) was US$ 754 million, which was 0.14% of Australian global trade and 0.92% of Pakistan’s global trade.
Since FY2016, Pakistan-Australia bilateral trade flow has been uneven – ranging between US$468 million to US$810 million, mainly driven by oscillating import volumes of agricultural commodities by Pakistan. The highest level of bilateral trade i.e. US$810 million was achieved in FY2017, but it gradually declined to US$ 468 million in FY2020, before increasing to $754 million in FY2021.