FREE: ICC Global Survey on Trade Finance - Rethinking Trade and Finance 2014 – An ICC Private Sector Development Perspective
Entitled 'Rethinking Trade and Finance 2014 – An ICC Private Sector Development Perspective', the Report found that the growth rate of international trade has dropped once compared to the years prior to the 2008-09 financial crisis. However, there is room for optimism: the Report found that 68% of respondents reported that the availability of trade finance has increased compared to the previous years. Key to the optimism also lies in another finding from the ICC Global Survey in that South-South exports now represent 46% of global exports - representing a 17% growth since 2001.Global trade growth itself was a shade above 3% during 2013, although picked up to an annualized growth rate of 4% during the first quarter of 2014 and is anticipated to accelerate beyond 5% through 2016. The growth in traditional trade products has not been dynamic but has remained consistent with overall trade growth. Showcasing a sharp increase in last year, the final report included representatives of 298 banks in 127 countries. The report was launched on 2 July, 2014.