Exporting to United States - Trade Finance Global

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Exporting to United States

Last updated on 03 Aug 2024
09 Mar 2019 . 2 min read

US Country Profile

Official Name (Local Language) United States of America

Capital Washington, DC

Population 323,995,528

Currency US Dollar

GDP $18,560 billion

Languages English

Telephone Dial In 1

US Exports Profile

Exports ($m USD) 444,052

Number of Export Products 4,317

Number of Export Partners 213

 

USA Economic Statistics




Government Website
https://www.usa.gov/
Sovereign Ratingshttps://countryeconomy.com/ratings/usa
Central BankBoard of Governors of the Federal Reserve
Currency USD Exchange Rate
Unemployment Rate4.7%
Population below poverty line15.1%
Inflation Rate1.3%
Prime Lending Rate3.5%
GDP$18,560 billion
GDP Pro Capita (PPP)$57,300
Currency NameUS Dollar
Currency CodeUSD
World Bank ClassificationHigh Income
Competitive Industrial Performance3/138
Corruption Perceptions Index16/180
Ease of Doing Business8/190
Enabling Trade Index22/136

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We assist companies to access trade and receivables finance through our relationships with 270+ banks, funds and alternative finance houses.

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Exporting to United States

Any company looking to export products or services from the United States must take into consideration the relevance of Free Trade Agreements (FTAs). There are about 20 of these in place, through which favourable treatment makes business easier and cheaper to conduct. FTAs are usually bilateral and sometimes mean that more record keeping in trading situations is needed. They build on the World Trade Organisation (WTO) Agreement and do provide advantages when competing against products from other countries. These agreements are put in place to increase transparency in the trade and investment environment, ultimately resulting in greater stability.

While the US carries a large balance of trade deficit, reflecting the difference between the value of imports and exports, this figure has reduced recently as imports have decreased more rapidly than exports.

Exporting to United States: What is trade finance?

Trade finance is a revolving facility which alternative financiers offer – it enables firms to purchase inventory and can help ease cashflow issues.

Typically, an alternative financier will fund all of the cost of the product, including charges (e.g. taxes).

Trade finance offers added advantages over more traditional bank finance including invoice finance or loans. Trade finance provides up front funding without affecting existing bank relationships.

How does it work?
If you’re an SME importing or exporting stock supplies internationally, then a trade finance facility would allow you to fund this through offering a LC (letter of credit) or some form of cash advance.

I’m looking to export to the US, how can Trade Finance Global help, and how does it work?
If you are looking to export goods to other countries, you may require export finance, which is a commercial agreement between yourself (the exporter), and the importer from overseas. A alternative financier would advance you the cost of producing the stock supplies that you are exporting (as a debt instrument), either once you have sent the goods, or before manufacturing them. Once your foreign importer has received the inventory and pays you for the import, you will repay the advance loan from the funder over an agreed period.

Chart Showing GDP Growth Compared to rest of world

GDP Composition for USA

Agriculture

1.1%

Wheat, corn, other grains, fruits, vegetables, cotton; beef, pork, poultry, dairy products; fish; forest products

Industry

19.4%

Petroleum, steel, motor vehicles, aerospace, telecommunications, chemicals, electronics, food processing, consumer goods, lumber, mining

Services

79.5%

Map

Top 5 Exports Partners

CountryTrade% Partner Share
China526,02221.85
Mexico317,20713.18
Canada305,87912.71
Japan139,7975.81
Germany119,9914.98

Top 5 Exports Products

Export ProductNumber
Petroleum oils and oils obtained from bituminou
21.9%
Transmission apparatus, for radioteleph incorpo
13.2%
Automobiles with reciprocating piston engine di
12.7%
Other medicaments of mixed or unmixed products,
5.8%
Petroleum oils, etc, (excl. crude); preparation
5.0%

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