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Canada Financial Guarantee Market Key Players: Scotiabank, Toronto Dominion, Banque Nationale du Canada (National Bank of Canada), HSBC, CIBC, Citigroup, IncRoyal Bank of Canada, Export Development Canada | Valuates Reports

03-31-2022 04:32 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Valuates Reports

Canada Financial Guarantee Market Key Players: Scotiabank,

Canada Financial Guarantee Market

The Canada financial guarantee market was valued at $1.32 billion in 2020, and is projected to reach $2.19 billion by 2028, growing at a CAGR of 7.3% from 2021 to 2028. With an unprecedented COVID-19 pandemic situation, the country has experienced uncertainty & protectionism in trade sector. Moreover, to curb the spread of virus, several provincial governments has imposed lockdown, which has financially affected businesses and therefore, demand for financial guarantee products has declined in Canada during the global health crisis.

Download Free Sample: https://reports.valuates.com/request/sample/ALLI-Manu-2V67/Canada_Financial_Guarantee_Market

Canada Financial Guarantee Market Segment Review

The Canada financial guarantee market is segmented into product type, enterprise size, and end user. By type, the market is segregated into bank guarantees, documentary letter of credit, standby letter of credit (SBLC), receivables financing, and others. Depending on enterprise size, it is fragmented into small enterprises, medium-sized enterprises, and large enterprises. On the basis of end user, it is bifurcated into exporters and importers.

Financial Guarantee Facilitates International Business among Importers and Exporters
Financial guarantee facilitates cross-border transactions between importers and exporters. Importers can import goods to and from Canada by availing financial guarantors from banks and pay back later. Exporter can be rest assured that there will be no default in payment, as banks provide guarantee for the payment. Therefore, importers and exporters can increase international business and deal with number of traders for different types of goods & services for cross-border transactions. Thus, increase in cross-border business between Canada and other countries significantly contributes toward the growth of the market.

Trade Wars between Countries

Trade wars cause countries to reduce or stop doing business with the rival country. Leading commodities in the trade between Canada and China include chemicals, metals, industrial, agricultural machinery & equipment, wood, and fish products. Although these products are heavily traded between these two countries, the trade war between them reduced the business and has negatively impacted the Canada financial guarantee industry.

Rise in Import and Export Activities

Canada majorly imports consumer goods, motor vehicles & parts, electronic & electrical equipment, industrial machinery, industrial chemical, and plastic & rubber products. Its key exports include crude oil, cars, and gold. These products are in huge demand, and the demand is anticipated to grow in the future. Thus, rise in import and export activities of Canada is anticipated to provide remunerative opportunities for the expansion of the financial guarantee market, as more number of buyers and sellers take financial guarantee from Canadian banks. Furthermore, new trade agreements in cross-border trading between Canada and other countries are likely to open new avenues for the growth of market.

View Full Report: https://reports.valuates.com/market-reports/ALLI-Manu-2V67/canada-financial-guarantee

Key Market Segments

By Product Type

• Bank Guarantees
• Documentary Letter of Credit
• Standby Letter of Credit (SBLC)
• Receivables Financing
• Others

By Enterprise Size

• Small Enterprises
• Medium-sized Enterprises
• Large Enterprises

By End User

• Exporters
• Importers

Inquire for Regional Report: https://reports.valuates.com/request/regional/ALLI-Manu-2V67/Canada_Financial_Guarantee_Market

Similar Reports:

1. Trade Surveillance Systems Market: https://reports.valuates.com/reports/ALLI-Manu-0Q70/trade-surveillance-systems

2. Trade Credit Insurance Market: https://reports.valuates.com/market-reports/QYRE-Othe-4N372/global-trade-credit-insurance

3. Letter of Credit Confirmation Market: https://reports.valuates.com/market-reports/ALLI-Manu-1V31/letter-of-credit-confirmation

4. Saudi Arabia Trade Finance Market: https://reports.valuates.com/market-reports/QYRE-Othe-3B386/saudi-arabia-trade-finance

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