The latest data from UNCTAD – the intergovernmental organization that promotes the interests of developing countries in world trade – suggests that after the downturn in the second half of 2022, trade in goods rose by 1.9% in the first three months of 2023.
However, it expects zero growth for the remainder of the year, due to factors such as persistent inflation and financial vulnerabilities, along with the ongoing war in Ukraine and geopolitical tensions in other regions.
We have seen a dramatic increase in the number of transactions driven by embedded finance
Dave Skirzenski, Raistone
Marie-Laure Gastellu, head of trade services for global transaction and payment services at Societe Generale, acknowledges that cost has impacted demand for funded products.
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