The United Kingdom is generally acknowledged as the eleventh largest economy worldwide and the fifth largest trading nation. It is highly dependent on foreign trade, so it must import almost all of its raw materials and about a third of its food, leading to a trade imbalance which has grown from about $30 billion in the mid 1990s to around $174 billion today.
The annual total of imports to the UK has increased by about 9% since 2010 to about $682.5 billion, with the top imports machinery (13.2%), oil (11.3%) and vehicles (11%). The main import partners are Germany ($85 billion), China ($55 billion), the Netherlands ($50 billion), France ($38 billion) and the United States ($36 billion).
|Official Name (Local Language)||United Kingdom of Great Britain and Northern Ireland||Capital||London||Population||64,430,428||Currency||British Pound||GDP||$2,650 billion||Languages||English||Telephone Dial In||44|
% Partner Share
Gold in oth semi-manufactured forms,non-monetar
Petroleum oils and oils obtained from bituminou
Transmission apparatus, for radioteleph incorpo
Automobiles with diesel engine displacing more
Petroleum oils, etc, (excl. crude); preparation
Cereals, oilseed, potatoes, vegetables; cattle, sheep, poultry; fish
Machine tools, electric power equipment, automation equipment, railroad equipment, shipbuilding, aircraft, motor vehicles and parts, electronics and communications equipment, metals, chemicals, coal, petroleum, paper and paper products, food processing, t
Other business services Financial services Travel Transportation Computer and information services Insurance services Royalties and license fees Cultural and recreational services Government services Construction services
Trade finance is a revolving facility which alternative lenders offer – it enables businesses to buy stock supplies and can help reduce the pressure from working capital issues.
Generally, a trade financier will fund most of the cost of the product, including charges (e.g. bank charges).
Trade finance offers added advantages over more traditional bank funding like invoice finance or business loans. Trade finance provides up front funding without affecting existing bank relationships.
How does it work?
If you’re a firm importing or exporting stock around the world, then a trade finance facility would help you to fund this through offering a letter of credit or some form of cash advance.
I’m looking to import from the United Kingdom, how can Trade Finance Global help, and how does it work?
If you are looking to import stock supplies from other countries, you may require import finance, which is an agreement between yourself (the importer) and the foreign exporter. An alternative finance bank will act as the intermediary, paying the foreign exporter on your behalf until you receive the inventory and have then sold them to your buyer. Repaying the financier then happens over an agreed period.
Bank of England