Some of the world's most prominent banks have been around for centuries and have stood the test of time. However, many people are unaware that these banks play an important role in trade, both in good times and bad. Let's see how. 1.Finance Oversees Trade Large banks finance most of international trade, and the World Trade Organization (WTO) estimates that banks or other financial institutions finance 75 percent of global trade. Due to this support, many companies can sell their products abroad or buy raw materials or equipment abroad...

There are many factors affecting international trade right now. Russia’s invasion of Ukraine, a shortage of agricultural goods due to unprecedented heatwaves and droughts, inflation, and Covid-19 are all hurting international trade. On the plus side, there have been numerous free trade agreements signed in recent years that allow for the easier transfer of goods. But what role is the banking sector playing in trade right now? Banking and international trade Banks play numerous important roles in international trade...