2017 Trade Finance Gaps, Growth, and Jobs Survey

November 6, 2017

From the Asian Development Bank Report

 

This brief discusses the 2017 ADB Trade Finance Gaps, Growth, and Jobs Survey which quantifies global market gaps for trade finance and the impact on growth and jobs.

The 2017 ADB Trade Finance Gaps, Growth, and Jobs Survey deepens our understanding of why firms cannot access sufficient trade finance and its impact. The survey explores the associations between shortfalls of trade finance and jobs as well as the behavior of woman-owned firms. In addition, this year’s survey introduces suggestive evidence that while fintech is reducing the cost of delivering trade finance, it’s not closing market gaps, as was hoped. The 2017 survey results were obtained through the participation of 515 banks and 1,336 firms from over 100 countries.

 

Key Points

  • The global trade finance gap is estimated at $1.5 trillion.

  • 40% of the gap originates in Asia and the Pacific.

  • 74% of rejected trade finance transactions come from SMEs and midcap firms.

  • Female-owned firms report higher rejection rates, and are less likely to find alternatives in the formal financial sector.

  • At least 36% of rejected trade finance may be fundable by other financial institutions.

  • A 10% increase in trade finance could boost employment by 1%.

  • 80% of banks report digitization will cut costs, yet no evidence that savings translate to additional trade finance capacity.

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