Global trade flow volumes have declined in 2012, dwindling to $37.7 billion and registering 217 deals in the year. This is down from $40.5 billion and 593 deals recorded in 2011.
The British bank, HSBC, has hired Quang Buu Huynh from Vietnam to Hong Kong to run global trade and receivables business in an effort to drive trade revenue in the bank’s key markets.
World trade volumes are dipping across the globe. The only place offering up any positive signs of trade business is Japan where imports are growing well.
European banks are pulling financing out of Asia with Singapore and Hong Kong badly hurt, especially in trade finance. Asian banks are taking some of the slack.