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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Trade Finance Market Size
The global trade finance market reached approximately USD 45.79 billion in 2023. The market is projected to grow at a CAGR of 4.3% between 2024 and 2032, reaching a value of around USD 66.74 billion by 2032.
Key Takeaways
- A primary function of trade finance is to manage risks associated with international trade, including credit risk.
- Supply chain finance is a growing segment within trade finance, focusing on optimising working capital and strengthening supply chains.
- The trade finance market is undergoing significant digitalisation, with technologies like blockchain, AI, and the Internet of Things (IoT).
Trade financing represents a range of financial instruments and products used by companies to facilitate international trade and commerce and deals with domestic and international trade financing activities such as insurance, loan issuance, and lending, among others. It is essentially the fuel that drives global trade by mitigating the risks associated with transactions that involve multiple parties, often in different countries with different laws, customs, and levels of economic stability.
The trade finance market growth is being driven by the need to improve inventory management as well as increased digitalisation and the development of tools for risk management. The availability of easy procedures for short-term financing is another major advantage provided by the trade finance sector. Technological advances and enhanced strategic formulation, along with the adoption of structuring and pricing tools, also offer various opportunities for market growth. Rapid economic growth in emerging markets leads to an increase in import and export activities as businesses in these markets are increasingly seeking trade finance services to facilitate their international trade endeavours.
Trade Finance Market Report Snapshots
Trade Finance Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global trade finance market reached a value of USD 45.79 billion in 2023.
The market is projected to grow at a CAGR of 4.3% between 2024 and 2032.
The market is estimated to witness a healthy growth during 2024-2032 to reach around USD 66.74 billion by 2032.
The key trends guiding the growth of the market include the improved inventory management by different companies and increased digitalisation.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
Supply chain finance, structured trade finance, and traditional trade finance are the major types in the market.
The several end users of trade finance are exporters, importers, and traders, among others.
The significant service providers in the market include banks and trade finance houses, among others.
The major drivers of the market include rapid urbanisation and globalisation, the development of risk management applications for financial sectors, technological advancements and enhanced strategic formulation, the adoption of structuring and pricing tools, and the availability of easy procedures for short-term financing.
The major players in the market are Citigroup Inc., Asian Development Bank, DBS Bank Ltd, JPMorgan Chase & Co., BNP Paribas, HSBC Holdings PLC, Euler Hermes, and Standard Chartered Bank, among others.
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