The new report by Expert Market Research titled, ‘ASEAN Trade Finance Market Report and Forecast 2021-2026’, gives an in-depth analysis of the ASEAN trade finance market, assessing the market based on its segments like type, provider, end user, and major regions Singapore, Thailand, Malaysia, Philippines, Indonesia, Vietnam, and others. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Trade finance refers to the funding of international trade via various financial instruments such as letters of credit (LCs), credit agency, export finance, bank guarantees, insurance, receivables and invoice finance, and others. It enhances the working capital efficiency of the business and mitigates the risk involved.
Explore the full report with the table of contents : https://www.expertmarketresearch.com/reports/asean-trade-finance-market
However, the market saw a decline in 2020, the ASEAN trade finance market is expected to recover from covid-19 impact and grow to pre pandemic levels. This can be attributed to strong trade relations with the North America and other developing economies. Additionally, the exporters and importers, on the end use basis, are expected to be the significant shareholder in the ASEAN region owing to the rising need for capital for the business expansion. Moreover, the factors such as increasing globalisation, growing penetration of key global players and expansion of various industries, supplier base is projected to push the growth of the region over the forecast period.