Australia Economic Statistics

Importing from Australia

Economic growth in Australia has most recently been driven by the mining and agricultural sectors, which together amount to about 20% of GDP. Raw materials, mainly shipped to Asia, have been the dominant export.

Australia’s top exports are iron ore ($68.2 billion), coal ($41.2 billion), gold ($21.6 billion), petroleum gas ($15.2 billion) and crude petroleum ($15.7 billion). Top export destinations include China ($94.4 billion), Japan ($45.4 billion), South Korea ($19.5 billion), India ($10.9 billion) and Hong Kong ($10.3 billion).

Importing from Australia: What is trade finance?

Stock finance is a revolving facility which alternative financiers offer – it enables companies to purchase inventory and can help reduce the pressure from working capital issues.

Often, an alternative financier will fund all of the cost of the stock, including charges (e.g. shipping costs).

Trade finance offers upsides over more traditional bank funding like asset finance or loans. Trade finance provides quick funding without affecting existing bank relationships.

How does it work?
If you’re a firm importing or exporting goods from or to other countries, then a trade finance facility would help you to fund this through offering a letter of credit (LC) or some form of cash advance.

I’m looking to import from Australia, how can Trade Finance Global help, and how does it work?
If you are looking to import stock from other international markets, you may require import finance, which is an agreement between yourself (the importer) and the foreign exporter. A non-bank lender would act as the intermediary, paying the exporter on your behalf until you get the products and have then sold them to your customer. Repaying the financier then occurs over an agreed period.

Chart Showing GDP Growth Compared to rest of world

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Speak to our trade finance team