AUSTRALIA

Export Atlas in PDF

With a population of 28 million and a forecasted GDP of $1,771bn in 2025,Australia is a large open advanced economy, with high income per capita and a broadly stable external position. Gross government debt rose sharply after global crises but remains moderate: according to 2025 fiscal data, gross debt is about 35.5% of GDP, net debt around 21–22%. OECD projections place gross debt at nearly 60.6% of GDP by end 2025, making Australia one of the fastest‑rising debt cases among advanced economies. 

Despite fiscal deterioration, public finances remain credible: the government has delivered rare budget surpluses pre‑2022 and maintains strong institutional frameworks. Household deficits have narrowed, while spending on health, aged care, and infrastructure is mounting. External net assets remain positive, but private sector balance sheet pressures, productivity stagnation, aging population, and climate‑related risks pose medium‑term headwinds. 

Economic growth is modestly positive: GDP rose around 1.3% in 2024, with per‑capita growth flattening, and growth forecasts through 2025 remain broadly stable albeit uninspiring.

Summary

BNP Paribas has been present in Australia since 1881, the only continental European bank to be located in the country. The bank's business centre is located in Sydney. With direct clearing system access and a strong partnership with the largest local bank, BNP Paribas offers comprehensive international cash management and trade finance solutions through multiple connectivity channels. BNP Paribas' Australian operation is also the gateway to New Zealand for both cash management and trade finance, with local processing outsourced to a major domestic bank.

BNP Paribas is a major player in trade finance throughout Asia, offering a full suite of traditional trade (letters of credit, bankers’ guarantee, trade financing, standby letters of credit, etc.) and supply chain financing solutions (receivables purchase programmes, supplier financing etc.) products, including a unique inventory solution offered through its trade centres in Australia, China, Japan and Singapore, specifically for companies engaged in international trade, as part of a wider network of more than 100 trade centres globally. BNP Paribas has experienced trade finance advisors and personnel who deliver a range of customised trade solutions and advise on local market practices. These solutions are supported by the bank's ISO-certified trade services support team.

Currency

  • Australian Dollar (AUD)

Bank accounts

  • A company is resident in Australia if it is incorporated in the country, or if it carries on business in Australia, and either its central management and control are in Australia, or its voting power is controlled by shareholders who are residents of Australia.

BNP Paribas Cash Management Capabilities

Cash collections
Cheque collections
Direct debit collections
Domestic incoming transfers
Virtual IBAN
Virtual accounts
International incoming transfers
Card acquiring

Payments & collections

The New Payments Platform (NPP) is Australia's national fast payments infrastructure. More than 100 banks, credit unions, building societies, fintechs and other organisations use the platform to support real-time payments for consumers, businesses and government agencies. Over 130 million payments are now processed each month through the NPP.

With the expected decommissioning of the BECS clearing system toward the end of this decade, it is assumed that all banks processing domestic EFT payments that have not implemented NPP are now expected to schedule the implementation of NPP before 2030.

Electronic banking services are available from most banks. Bank-neutral standards for ATMs, EFTPOS terminals and telephone and internet banking have been developed by the Australian Bankers’ Association.

BPAY is the Australian electronic bill presentment and payment service. Over 55,000 billers and over
150 financial institutions participate in BPAY.

The New Payments Platform (NPP) is Australia's national fast payments infrastructure. More than 100 banks, credit unions, building societies, fintechs and other organisations use the platform to support real-time payments for consumers, businesses and government agencies. Over 130 million payments are now processed each month through the NPP.

With the expected decommissioning of the BECS clearing system toward the end of this decade, it is assumed that all banks processing domestic EFT payments that have not implemented NPP are now expected to schedule the implementation of NPP before 2030.

Short term investments

Interest payable on credit balances

  • Interest-bearing current accounts are available.

Demand deposits

  • Demand deposits denominated in AUD or major foreign currencies are available for various terms.

Time deposits

  • Time deposits are available in AUD or major foreign currencies for terms ranging from one week to over a year.

Certificates of deposit

  • Domestic banks issue certificates of deposit, usually with terms between one day and 6 months. They can be issued paying fixed or floating interest.

Treasury (government) bills

  • The Australian Office of Financial Management auctions treasury notes twice a week.

Commercial paper

  • Domestic companies issue discounted promissory notes with maturities ranging from one week to six months. The minimum investment amount is AUD 1 million.

Money market funds

  • Managed mutual funds are available.

Repurchase agreements

  • Repurchase agreements are available in Australia. Terms of one week are most common, but longer terms are available.

Bankers' acceptances

  • Bank bills are available in Australia with maturities of one week and one, three and six months.

BNP Paribas Trade Finance Capabilities

Documentary credits
Documentary collections

International trade

  • As a signatory of Australia New Zealand Closer Economic Relations Trade Agreement (ANZCERTA), Australia has agreed to standardise its trade and business regulations with New Zealand.
  • As a member of the Asia-Pacific Economic Cooperation (APEC) forum, Australia has agreed to liberalise trade and investment rules between members.