The global trade finance gap grew to a record $2.5tn in 2022 from $1.7tn two years prior, according to the Asian Development Bank’s (ADB) Trade Finance Gaps, Growth and Jobs Survey published this month, incorporating data from 137 banks and 185 companies from around 50 countries.
Rebounding strongly after the Covid-19 pandemic, the trade finance gap constitutes the difference between requests and approvals for financing to support imports and exports. Although demand for trade finance surged post-recovery, heightened economic risks left finance more difficult to secure, according to the ADB.
