{"id":18331,"date":"2019-02-27T10:44:06","date_gmt":"2019-02-27T10:44:06","guid":{"rendered":"https:\/\/www.tradefinanceglobal.com\/?post_type=imports&p=18331"},"modified":"2024-08-05T12:44:08","modified_gmt":"2024-08-05T12:44:08","slug":"australia","status":"publish","type":"imports","link":"https:\/\/www.tradefinanceglobal.com\/imports\/australia\/","title":{"rendered":"Importing from Australia"},"content":{"rendered":"\n
\n
\n

\n Importing from Australia <\/h2>\n
\n
\n
Last updated on 05 Aug 2024<\/div>\n
27 Feb 2019 . 2 min read<\/div>\n <\/div>\n <\/div>\n <\/div>\n\n\n
\"\"<\/figure>\n<\/div>\n\n\n\n
\"\"<\/figure><\/div>\n<\/div>\n\n\n\n
<\/div>\n\n\n\n
\n
\n
\n

Quick Links<\/h4>\n <\/div>\n
\n \n Australia Homepage <\/a>\n \n Importing from Australia <\/a>\n \n Exporting to Australia <\/a>\n \n Trade Finance \u2013 Australia <\/a>\n \n Invoice Finance \u2013 Australia <\/a>\n \n Export Credit Agency (ECA) in Australia <\/a>\n <\/div>\n<\/div><\/div>\n\n\n\n
\n

<\/p>\n

Australia Country Profile<\/h3>\n

<\/p>\n

Official Name (Local Language)\u00a0Commonwealth of Australia<\/strong><\/p>\n

Capital\u00a0Canberra<\/strong><\/p>\n

Population\u00a022,992,654<\/strong><\/p>\n

Currency\u00a0Australian Dollar<\/strong><\/p>\n

GDP\u00a0$1,257 billion<\/strong><\/p>\n

Languages\u00a0English<\/strong><\/p>\n

Telephone Dial In\u00a061<\/strong><\/p>\n<\/div><\/div>\n\n\n\n

\n

Australia Exports Profile<\/h3>\n

Exports ($m USD) 230,163<\/strong><\/p>\n

Number of Export Products 4,181<\/strong><\/p>\n

Number of Export Partners 211<\/strong><\/p>\n

<\/p>\n

\"\"<\/figure>\n

<\/p>\n

<\/p>\n

<\/figure>\n

<\/p>\n<\/div><\/div>\n<\/div>\n\n\n\n

<\/div>\n\n\n\n
\n
\n

<\/p>\n\n\n\n

Australia Economic Statistics<\/h2>\n\n\n\n
Government Website<\/strong><\/td>https:\/\/australia.gov.au\/<\/a><\/td><\/tr>
Sovereign Ratings<\/strong><\/td>https:\/\/countryeconomy.com\/ratings\/australia<\/a><\/td><\/tr>
Central Bank<\/strong><\/td>Reserve Bank of Australia<\/td><\/tr>
Currency USD Exchange Rate<\/strong><\/td>1.352<\/td><\/tr>
Unemployment Rate<\/strong><\/td>5.8%<\/td><\/tr>
Population below poverty line<\/strong><\/td>NA<\/td><\/tr>
Inflation Rate<\/strong><\/td>1.4%<\/td><\/tr>
Prime Lending Rate<\/strong><\/td>3%<\/td><\/tr>
GDP<\/strong><\/td>$1,257 billion<\/td><\/tr>
GDP Pro Capita (PPP)<\/strong><\/td>$48,800<\/td><\/tr>
Currency Name<\/strong><\/td>Australian Dollar<\/td><\/tr>
Currency Code<\/strong><\/td>AUD<\/td><\/tr>
World Bank Classification<\/strong><\/td>High Income<\/td><\/tr>
Competitive Industrial Performance<\/strong><\/td>22\/138<\/td><\/tr>
Corruption Perceptions Index<\/strong><\/td>13\/180<\/td><\/tr>
Ease of Doing Business<\/strong><\/td>18\/190<\/td><\/tr>
Enabling Trade Index<\/strong><\/td>26\/136<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

<\/p>\n\n\n\n

<\/p>\n\n\n

\n

\n Access trade, receivables and supply chain finance <\/h4>\n

We assist companies to access trade and receivables finance through our relationships with 270+ banks, funds and alternative finance houses.<\/p>\n \n Get Started<\/span>\n <\/a>\n<\/div><\/div>\n\n\n\n

<\/div>\n\n\n\n
\n

<\/p>\n\n\n\n

Importing from Australia<\/h2>\n\n\n\n

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.<\/p>\n\n\n\n

Australia\u2019s 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).<\/p>\n\n\n\n

<\/p>\n\n\n\n

Importing from Australia: What is trade finance?<\/h2>\n\n\n\n

Stock finance is a revolving facility which alternative financiers offer \u2013 it enables companies to purchase inventory and can help reduce the pressure from working capital issues.<\/p>\n\n\n\n

Often, an alternative financier will fund all of the cost of the stock, including charges (e.g. shipping costs).<\/p>\n\n\n\n

Trade finance offers upsides over more traditional bank funding like asset finance or loans. Trade finance provides quick funding without affecting existing bank relationships.<\/p>\n\n\n\n

How does it work?
If you\u2019re 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.<\/p>\n\n\n\n

I\u2019m 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.<\/p>\n\n\n\n

<\/p>\n\n\n\n

<\/p>\n\n\n\n

Chart Showing GDP Growth Compared to rest of world<\/h2>\n\n\n
\n