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Global trade is growing absolute growth in cross- regional trade volumes absolute growth in intra- regional trade volumes Magnitude of relative growth ≤ 3% ≤ 4-5% ≤ 6-7% ≥ 8% 1% 3% 5% 4% 8% 3% 6% 3% 2% 5% 8% 10% 5% 9% 5% 8% 5% 8% 9% 9% 5% UBS Source: White Paper by World Economic Forum Trade Tech - A New Age for Trade and Supply Chain Finance, Sep 2018 2

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