Despite a challenging economic environment, including the technology sector’s crash in 2000, TradeCard revenues increased at a growth rate of over 15 per cent per month on average in 2002 and purchase orders initiated through the TradeCard system showed monthly increases of 40 per cent over the last quarter of 2002. Transaction volumes had increased tenfold over the previous year.
TradeCard corporate membership was around 600, including five of the largest US retailers, the two largest Japanese trading companies, two of the largest Korean chaebols and several of the world’s largest footwear, apparel and toy companies. TradeCard’s integrated trade services network consisted of over 100 logistics providers, 15 global financial institutions, the top three inspection services (Bureau Veritas, Inspectorate and SGS), the leading provider of export credit insurance (Coface), GE Commercial Services (a unit of GE Commercial Finance and a well known player in the factoring industry), and the largest broker of cargo insurance (Marsh McLennan).