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Trade finance gap reaches record USD2.5tr in 2022

The global trade finance gap reached a staggering USD2.5tr in 2022, a significant rise from USD1.7tr two years ago, according to the 2023 Trade Finance Gaps, Growth and Jobs Survey by the Asian Development Bank (ADB). This gap quantifies the disparity between requested and approved financing for imports and exports. While global exports increased by 26.6% in 2021, securing finances has become a growing challenge. ADB’s Suzanne Gaboury highlighted the negative impact of this gap on post-pandemic economic recovery. Notably, 60% of surveyed banks indicated that the Russian incursion into Ukraine affected their trade finance portfolios. The survey also emphasised the potential of environmental, social, and governance (ESG) alignment and digitalization to bridge the financing deficit.


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