Global Trade Finance Market is expected to grow at a CAGR of 3.67% from 2020 to 2024.
Trade Finance is the financing of goods or services in a trade or transaction, from a supplier through to the end buyer. It accounts for 3% of global trade, worth some $3tn annually. ‘Trade Finance’ is an umbrella term, which includes a variety of financial instruments that can be used by an importer or exporter.
Top Manufactures with production, price and market share for each manufacturer includes Citigroup Inc., Credit agricole, BNP Paribas, China Exim Bank, JPMorgan Chase & Co, ICBC, Commerzbank.
Citi Announces New Five-Year Sustainable Progress Strategy to Finance Climate Solutions and Reduce Climate Risk-2020 Citi In July announced its new five-year 2025 Sustainable Progress Strategy to help accelerate the transition to a low-carbon economy. This new strategy includes a $250 Billion Environmental Finance Goal to finance and facilitate climate solutions globally. This builds on Citi’s previous $100 billion goal announced in 2015 and completed last year, more than four years ahead of schedule. This new goal includes financing and facilitating activities in renewable energy, clean technology, water quality and conservation, sustainable transportation, green buildings, energy efficiency, circular economy, and sustainable agriculture and land use. Citi will continue to develop innovative financing structures and seek opportunities to scale positive impact in these areas while supporting clients across all sectors in the low-carbon transition. Citigroup and the International Finance Corp. (IFC) ,with the coronavirus pandemic creating the latest wave of global economic disruption, Citi and the IFC are once again joining forces with an additional $800 million fund aimed at connecting SMBs in emerging markets to the trade financing they need to keep the doors open and keep the economic wheels turning.
World trade is expected to fall by between 13% and 32% in 2020 as the COVID 19 pandemic disrupts normal economic activity and life around the world. The Covid-19 pandemic has brought global corporate giants and small businesses that are a part of global supply chain to
halt owing to containing the spread of coronavirus by enforcing lockdowns in different continents. Impact on Export volumes have fallen down by 80% specifically in the end of March 2020 when coronavirus had actually started affecting India. As workers didn’t show up due to lockdown impacting productions.
Market segmentation by product type (Guarantees, Letter of credit, documentary, Collection, supply Chain Finance, other). By application it has been (Energy, Finance, Transport, power generation, Metals and Non-metallic Minerals, Renewables, others). Geographically segmentation are covered in Asia-Pacific, North-America, Europe and Middle East & Africa. The lockdown across countries has impacted core trade operations. In the Europe & US many technically credit worthy buyers are becoming high credit risk as compared to they were in the past.
Trade finance market report explains why and how it is going to achieve the growth after covid-19.It provides virtual information on every parameter which is required for making strategic decisions and development of every business in trade finance industry. It will enough for understand the market situations, top companies with their focused segments and regions.
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