Importing from Australia

Australian Import Guide | Trade Finance Global

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).

Australia Country Profile

Official Name (Local Language) Commonwealth of Australia
Capital Canberra
Population 22,992,654
Currency Australian Dollar
GDP $1,257 billion
Languages English
Telephone Dial In 61

Australia Exports Profile

Exports ($m USD)

230,163

Number of Export Products

4,181

Number of Export Partners

211

Top 5 export partners

Country

Trade

% Partner Share

China

68,096

29.59

Unspecified

34,611

15.04

Japan

24,008

10.43

Korea, Rep.

13,146

5.71

India

10,757

4.67

Top 5 Export Products at HS 6 digit level

Export Product

Number

Non-agglomerated iron ores and concentrates

21.1%

Bituminous coal, not agglomerated

18.8%

Natural gas, liquefied

8.8%

Gold in oth semi-manufactured forms,non-monetar

5.7%

Aluminium oxide, other than artificial corundum

2.5%

Chart Showing GDP Growth Compared to rest of world

GDP Composition for Australia

Agriculture

%

Product List

3.6%

Wheat, barley, sugarcane, fruits; cattle, sheep, poultry

Industry

%

Industry list

28.2%

Mining, industrial and transportation equipment, food processing, chemicals, steel

Services

%

Services List

68.2%

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.

Information

Importing from Australia? Contact our local experts

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    Australia Economic Statistics

    Government Website

    https://australia.gov.au/

    Sovereign Ratings

    https://countryeconomy. com/ratings/

    Central Bank

    Reserve Bank of Australia

    Currency USD Exchange Rate

    1352

    Unemployment Rate

    5.8%

    Population below poverty line

    NA

    Inflation Rate

    1.4%

    Prime Lending Rate

    0,03

    GDP

    $1,257 billion

    GDP Pro Capita (PPP)

    $48,800

    Currency Name

    Australian Dollar

    Currency Code

    AUD

    World Bank Classification

    High Income

    Competitive Industrial Performance

    22/138

    Corruption Perceptions Index

    13/180

    Ease of Doing Business

    18/190

    Enabling Trade Index

    26/136

    Currency in Australia

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