Importers and imports are a large part of the US economy. – in fact, with a value of $ 2,275 trillion. The greater part corresponds to the industrial machinery and equipment with $ 731 billion and about half is crude oil and products relevant to oil, gas and energy. Other representative imports are iron and metal products, chemicals and fertilizers.
The second largest import of products comes with $ 731 billion and includes computers, computer accessories and telecommunications equipment. Consumer equipment ranks third with $ 517 billion. Clothing, drugs, cell phones and toys.
Services are $ 437 billion and include private services, primarily financial services, travel services, other transportation services, and passenger fares. The $ 42 billion imported by the US in royalties and fees for service licenses. Imports of the US Government service they are $ 31 billion, of which the majority is for defense.
Automotive vehicles, parts and engines represent $ 297 billion. Food, food and beverages including fish, fruits and vegetables represent $ 110 million.
(Source: US Census, Exhibit 6 – Imports by End-User Categories)
Importers count on having a constant cash flow in order to conduct a profitable operation. Often import companies have to wait 30-60 days to get paid. Smaller importers can suffer more impact because they are less likely to extend the credit terms of their international suppliers. As long as the importer is working with buyers who are creditworthy debtors, factoring and factoring for importers can be an excellent solution.
Factoring to importers can be very effective for international traders who import large shipments of goods. BusinessCash.es has the experience and knowledge required to deal with the complexities of factoring to importers.