ICC Trade: Register Report reveals potential impact of COVID19 on trade
- ICC Trade Register reflects on the impact of COVID-19 on global trade, while affirming trade finance’s decade-long low-risk profile
- In 2019, global trade flows declined 2% from US$ 18.5 trillion to US$ 18.1 trillion, underpinning a trade finance revenue pool of US$ 46 billion
- ICC Trade Register data confirms default rates from 2008-2018 are low across all products and regions surveyed
- The report can be used as a reference point for policymakers when considering how to support trade
- The ICC Trade Register indispensable for global banking, policymakers, and fostering dialogue with regulators on a global scale
- The ICC also exploring the possibility of providing the market with an updated view of the impact of COVID-19
