₦airaland Forum

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Trade has yet to regain the dynamism and the rapid growth trajectories of the years preceding the global economic crises. In 2013, international trade in goods and services expanded at a modest pace of 2.2% in volume terms, a rate that is below average growth rate recorded between 2000 and 2013. The developing countries’ exports expanded at a faster pace (3.2%) than those of developed countries (1.6%). The existing forecast suggests that trade will experience accelerated growth starting in 2014. Traditionally, only major banks, international finance institutions and government agencies have been involved in trade finance. These days, however, as more smaller companies become involved in international trade, often being ‘born global’, and the internet and other technologies help facilitate international trade, the world of trade finance is changing.