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

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

1.352

Unemployment Rate

5.8%

Population below poverty line

NA

Inflation Rate

1.4%

Prime Lending Rate

3%

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

About the Author

Natasha Roston is Head of People and Growth at Trade Finance Global (TFG). 

Natasha builds partnerships with Universities and external stakeholders to improve trade education projects. She is passionate about delivering innovative learning experiences to maximize engagement.

In 2022, Natasha led TFG’s Women In Trade campaign on #BreakTheBias, writing an article on the impact of gender stereotypes for gender equality in the workplace. 

Natasha is also responsible for TFG careers, culture, and growth. A Level 2 Qualified Coach and Mental Health First Aid Champion, she leads internal training, supporting the holistic wellbeing and professional development of the team.

Natasha worked in education for over a decade before joining TFG. Initially in formal education as a history teacher, and then in leadership roles as a Director of Learning and Head of Classics. Following this, she worked in EdTech as a Learning Design Coach for Aula’s Higher Education platform.

In addition to her work at TFG, Natasha volunteers for the Young Women’s Trust as a Work It Out – CV Volunteer. 

She holds an MA from Tel Aviv University, a History PGCE from The Institute of Education and a BA from the University of Nottingham. Currently, she is studying for her Level 3 Certificate in International Trade from the Institute of Export & International Trade.

Back to Top