The ASEAN trade finance market reached a value of USD 4.32 Billion by 2024. In the forecast period of 2025-2034, the market is expected to further grow at a CAGR of 5.30% to reach USD 7.24 Billion by 2034.
Base Year
Historical Period
Forecast Period
Compound Annual Growth Rate
5.3%
Value in USD Billion
2025-2034
*this image is indicative*
Based on end user, importers and exporters account for a significant share in the market in the ASEAN region. This can be attributed to the rising need for capital efficiency to expand the business. The growing trade routes and trade agreements are likely to further bolster the market growth within these segments in the forecast period. The segments are likely to remain dominant in the coming years owing to the rising globalisation, expansion of supplier base for various industries in the ASEAN region, and the growing investments by major global players into the region.
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On the basis of service provider, banks account for a major share in the market. This can be attributed to the potential of banks to act as intermediatory in the trade finance ecosystem. The bank’s guarantee to ease the financial activities to further bolster the finance trade.
Among the countries of ASEAN, the trade windows are anticipated to broaden, owing to the implementation of non-tariff measures on essential items. While trade and, thus, trade finance witnessed a decline in 2020 due to the outbreak of the COVID-19 pandemic, the trade is anticipated to recover and increase in 2021, aiding the growth of the trade finance market in ASEAN. The growth of the trade finance market in the ASEAN countries is expected to be further bolstered by the strong diplomatic relationships with North America and Australia, which is expected to support the growth of trade in the region.
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Trade finance facilitates international trade transactions using various financial instruments. Trade finance includes issuing letters of credit (LCs), receivables and invoice finance, export finance, bank guarantees, insurance, and others. It can also act as an intermediatory between importers and exporters to mitigate the risks involved in transactions.
Based on type, the market is divided into:
By service provider, the market can be segmented into:
On the basis of end user, the market can be categorised into:
On the basis of region, the market can be categorised into:
The trade finance market in the ASEAN region is being driven by economic development in the countries of ASEAN and the implementation of innovative technologies, including optical character recognition (OCR), radio frequency identification (RFID), and quick response codes (QRC), among others. These technological advancements can help importers and exporters trace shipments and enhance the digitalisation of trade documents, which can save time.
The market is anticipated to be propelled by the expansion of SMEs and their focus on international trade. The growing need of buyers, sellers, manufacturers, importers, and exporters to ease finance activities and manage their investment with proper risk management is further projected to aid the market in the forecast period. Furthermore, the non-tariff measures on essential items among ASEAN nations are likely to augment the trade growth and economic recovery of the ASEAN region from the adverse impacts of the COVID-19. This is expected to lead to a healthy growth of the trade finance market in the region in the coming years.
The report gives a detailed analysis of the following key players in the ASEAN trade finance market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
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In 2024, the ASEAN trade finance market attained a value of nearly USD 4.32 Billion.
The market is projected to grow at a CAGR of 5.30% between 2025 and 2034.
The market is estimated to witness a healthy growth in the forecast period of 2025-2034 to reach USD 7.24 Billion by 2034.
The major market drivers include the expanding trade routes, technological advancements, and rapid urbanisation and globalisation.
The key trends guiding the market growth include economic development in ASEAN countries, the implementation of innovative technologies, and the expansion of SMEs and the enhanced focus on international trade.
The major countries of trade finance considered in the ASEAN market report are Singapore, Thailand, Malaysia, the Philippines, Indonesia, and Vietnam, among others.
The leading types of trade finance in the market are supply chain finance, structured trade finance, and traditional trade finance.
The major service providers in the market are banks and trade finance houses, among others.
The significant end users of trade finance are exporters, importers, and traders, among others.
The major players in the market are Asian Development Bank, DBS Bank Ltd, Malayan Banking Berhad, Bank of the Philippine Islands, and Vietinbank, among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Service Provide |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
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