The ICC today issued its latest Global Trade Finance survey based on 2015 data. The report can be downloaded from the following link:
Category 7 messages fell by 4.49% and category 4 messages fell by 6.79% compared to 2014 data.
The average value of a letter credit fell sharply from USD643,000 in 2014 to USD350,000 in 2015.
Commercial letters of credit, on average, made up 38% of the trade finance product mix within a bank compared to 45% in 2014.
79% of respondents indicated no change in their take-up of Bank Payment Obligations, indicating that technology- driven change is not substantially driving business practices in 2015.
47% of respondents indicated that their net income had increased between 2014 and 2015.