According to the World Trade Organization 15% of world trade is conducted on a non-cash basis. This includes direct trade, gift-culture, counter-trade/reciprocal trade (often found between governments and multi-national organizations) and non-government currencies (community currencies, regional currencies, gift vouchers, loyalty points & air-points) and is therefore worth approximately USD $2.79 trillion dollars of the estimated USD $18.6 trillion dollars of world trade (2004 World Bank figures).
More recent figures are currently unavailable but it is known that global trade rose in 2004 by 21% (world merchandise exports rose by 16% to $7.3 trillion, while commercial services followed closely with a growth rate of 12% to $1.8 trillion) and it is estimated that this rise has carried steadily onwards through to 2006, making non-cash trade forecast at between $3.37 trillion (2005) and $4.08 trillion (2006).
Ormita acts as a clearinghouse for the trade of excess capacities, goods and services and works through a combination of manual clearing, online e-commerce trading, 24 hour telephone brokering and independent licensees.
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