The global Trade Finance market was valued at US$ 8483660 million in 2022 and is anticipated to reach US$ 11631260 million by 2029, witnessing a CAGR of 5.4% during the forecast period 2023-2029. The influence of COVID-19 and Russia-Ukraine War was considered while estimating market sizes.
Exporters and importers can conduct trade and commercial operations more easily with the aid of trade financing. Trade finance is a broad term that includes a number of financial instruments that businesses and bankers employ to facilitate smooth transactions.
The availability of trade financing is crucial for sustainable development since it is one of the main factors promoting economic growth in developing nations and emerging markets. For emerging markets and developing nations, in particular, the integration of small and medium-sized firms (SMEs) into international commerce is crucial because it fosters economic development in a particularly efficient and long-lasting way. Since goods are predominantly manufactured inside global value chains, trading in intermediate products has now surpassed trading in end products in importance. Two-thirds of all international commerce consists of dealing with intermediate items.
Thus, participation in global value chains is a key goal for developing nations.Based on our research, nations that are deeply integrated into global value chains often experience stronger economic development; nevertheless, financial frictions are one of the biggest barriers to joining these value chains.
The future structure for development financing should include trade financing as a key component. In order to promote the integration of SMEs into the global economy, it is particularly important for developing countries to concentrate on strengthening both local and regional banking sectors as well as their international interlinkages and on improving the connection between trade finance and value chains, for example by strengthening the respective support programs for Supply Chain Finance.
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