Current aspects of trade finance in the global market

Abstract

Trade finance is a key factor for assuring the competitiveness and efficiency of world trade. Despite the current political and economic risks thanks to the emerging markets the world trade is expected to grow about 2,8 % by 2017. Foreign trade participants usually use the trade finance instruments for the timeous payments and risks coverage. The article clarifies the trade finance definition, describes basic exporter and importer instruments for the risks coverage, discovers leading banks in this regard, shows the germinal and sectors trends, and obligator default statistics.