The Treasurer’s Guide to Trade Finance

Australia

Australia imports exports

Trade information

Key trading partners

Imports by origin

China 18.5%

EU 17.8%

USA 11.4%

Japan 7.9%

Singapore 6.2%

Other 38.2%

Source: WTO, September 2012

Exports by destination

China 27.5%

Japan 19.2%

South Korea 8.9%

EU 7.1%

India 5.9%

Other 31.4%

Bank accounts

ƒ Resident companies can hold local currency

(AUD) bank accounts outside Australia.

ƒ Resident companies can hold foreign

currency bank accounts both within and

outside Australia.

ƒ Non-resident companies can hold local

currency bank accounts both within and

outside Australia.

ƒ Non-resident companies can hold foreign

currency bank accounts in Australia.

Principal exports

Coal, iron ore, gold, meat, wool, alumina, wheat,

machinery and transport equipment.

Documentation

Imports

ƒ Commercial invoice, customs declaration,

bill of lading, packing list and, sometimes, a

certificate of origin.

Exports

ƒ Commercial invoice, customs declaration,

bill of lading, packing list and, sometimes, a

certificate of origin.

Licences

Imports

ƒ Various primary products, rough diamonds,

narcotics, psychotropic and therapeutic

substances, armaments, various chemical

products and other dangerous items.

Exports

ƒ Licences are required for unprocessed wood

exports.

ƒ Licences from the Department of Agriculture,

Fisheries and Forestry: livestock, cattle,

sheep and goat meat.

ƒ Permits from the Australian Radiation

Protection and Nuclear Safety Agency:

radioactive materials.

ƒ Permits from the Department of Industry,

Tourism and Resources: nuclear and related

materials.

ƒ Exports of dairy products, beef and sheep

meat to the European Union and USA are

subject to restrictions.