News

ICC releases its 2015 Global Trade Finance survey

01/10/2015

The ICC has released its 2015 Rethinking Trade & Finance survey report. Amongst the numerous articles, facts and figures etc. readers may find the SWIFT trade messaging trends that appear on pages 52-64 to be of particular interest. Some of the highlights are: 

Numbers of MT700 issued in 2014 fell 2.5% when compared to 2013. 

Volume of MT103 messages that can be linked to open account payments rose 4.9% when compared to 2013. 

The average value of a letter of credit in 2014 was USD643,000 a USD10,000 reduction on the 2013 figure. 

Asia-Pacific region, unsurprisingly, accounts for the vast majority of letters of credit sent and received in 2014. 

Of the MT700's issued in 2014, only 8% contained an instruction to confirm and only 3% contained a ‘may add' authorisation. 

Of the MT700's issued in 2014, 72.3% were available by negotiation, with 12.6% available by payment. 

40% of MT700's issued in 2014 were available with a usance period of between 31 and 60 days, with 31% available with a usance period of between 61 and 90 days.

The full report can be downloaded from the following link:

ICC Global Survey on Trade Finance


Back to recent news