Trade Finance Market in Russia. Сurrent state and challenges

Abstract

The article considers the key trends in the Russian trade finance market. In recent years, because of the intensification in digitalization processes in the Russian Federation, the volumes of various forms of trade finance, including digital ones, have been growing. The author identifies trends in market development, which are due to changes in the economic environment and the development of technology It is noted that the intenal trade finance market has the potential for further growth and increasing its competitiveness in the conditions of active use of digital platforms and integrated supply chains. The main advantages of the modern trade finance market in digital ecosystems are highlighted, including new opportunities for market participants to diversify their financial instruments, which helps to reduce risks and improve the efficiency of trade finance. However, despite the positive trends in market development, a number of challenges are noted, the main of which are related to geopolitical instability, fluctuations in the exchange rate of the national currency, which leads to additional risks in trade finance transactions and affects the structure and competitiveness of the market. In the paper, an analytical market review has been carried out in order to identify its potential under new technological concepts and to achieve competitive advantages by adapting to the new conditions of the national economy.