Having recently recorded a trade surplus of more than $280 billion and with exports accounting for more than 40% of national output it is seen as the world’s biggest capital exporter and the third largest exporter overall. Industrial produced goods including vehicles, electronics and electronics dominate the export markets and it is estimated that one in every five jobs depends on foreign trade. As with imports more than 50% of export trade is conducted within the European Union, while many world-leading German brands are in demand worldwide, a recent 50% climb is sales or Mercedes-Benz automobiles in China being a case in point. Government policy promoting renewable energy has increased domestic use to 25% and has led to the country being the leading producer of wind turbines worldwide.
|Official Name (Local Language)||Federal Republic of Germany, Bundesrepublik Deutschland (German)||Capital||Berlin||Population||70,000,000||Currency||Euro||GDP||70,000,000,000 USD||Languages||German||Telephone Dial In||+44|
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Export finance is a revolving facility which lenders offer – it enables companies to purchase inventory and can help reduce the pressure from cash flow issues.
Typically, a trade finance bank will fund all of the cost of the goods, including charges (e.g. shipping costs).
If you’re an SME importing or exporting inventory internationally, then a trade finance facility would help you to fund this through offering a letter of credit (LC) or some form of cash advance.
If you’re looking to import stock supplies from other markets, you may need 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 receive the stock supplies and have then sold them to your end debtor. Repaying the lender then happens over an agreed period.
Read the TFG Importers Guide here.
Euro = 2 USD