Spain is a highly agriculturally focused country and produces large crops of barley, wheat, tomatoes, olives, lemons and many other fruits and vegetables. These helped push exports to $318.6 billion in 2014, up 29.4% from 2010.

Spain achieved a trade surplus for the first time in three decades in 2013 following a policy of reducing imports and increasing exports, while in 2015 the GDP grew by 3.2%, a rate not seen since the crisis struck in 2008. Top Spanish exports are vehicles (16.2%), machines (7.6%) and oil (7.2%).

Chart Showing GDP Growth Compared to rest of world

Trade finance is a revolving facility which alternative lenders offer – it enables firms to buy inventory and can help ease working capital problems.

Often, a trade financier will fund most of the cost of the stock, including charges (e.g. delivery costs).

Trade finance offers benefits over more traditional bank funding, for example, bridging mortgages or loans. Trade finance provides up front funding without affecting existing relationships with banks.

How does it work?
If you’re a firm importing or exporting products outside of your own country, then a trade finance facility would assist your company to fund this through offering a letter of credit or some form of cash advance.

I’m looking to import from Spain, how can Trade Finance Global help, and how does it work?
If you are looking to import products from other countries, you may require import finance, which is an agreement between yourself (the importer) and the foreign exporter. A alternative financier will act as the intermediary, paying the exporter on your behalf until you receive the stock and have then sold them to your buyer. Repaying the financier then occurs over an agreed period.