Arbitration Institution Digest (Part 3): ICC Releases Statistics for 2023

At a Glance

• In 2023, there was a 25% increase in the number of arbitration cases registered, compared to the previous year.
• A significant increase was seen in the number of parties from Central and Eastern Europe, North America and the Middle East. 
• Of all arbitrator appointments made by the ICC International Court of Arbitration in 2023, 41% were women.

In June 2024, the International Chamber of Commerce (ICC) released its preliminary statistics report for 2023 for their arbitration and alternative dispute resolution (ADR) services. The numbers show an increase in cases as compared to the previous years, marking the third-best year in its history. Some of the key highlights are below.

Headline Numbers

• A total of 890 arbitration cases were registered in 2023, including 870 cases under the ICC Rules of Arbitration and 20 cases under the Rules of ICC as Appointing Authority. This represents a 25% increase on the 710 cases registered in 2022.
• The average amount in dispute in 2023 filings was US$65 million, with a median value of approximately US$5.5 million, while the aggregate amount in dispute reached US$53 billion. 
• At year-end, the number of pending cases stood at 1,766.
• A total of 520 draft awards were approved (384 final awards, 104 partial awards and 32 awards by consent).

International Reach

• Parties came from 141 jurisdictions across Europe (40%), Asia and the Pacific (25%), Latin America (14%), North America (13%) and Africa (8%). 
• An increase was seen in the number of parties from Central and Eastern Europe (277 parties, up from 188 in 2022), North America (308, up from 207 in 2022) and the Middle East (288, up from 198 in 2022). 
• France, the United Kingdom, Switzerland, the United States and Brazil remained the top five seats of arbitration. In total, arbitrations were seated in 116 cities across 63 countries. 
• In 2023, the five most frequently selected cities remained Paris, London, Geneva, New York and Singapore.

Diversity

• The 935 individual arbitrators confirmed or appointed in 2023 came from 89 jurisdictions. 
• Preliminary data indicates an increase in the number of women arbitrators: 269 women were confirmed further to party or co-arbitrator nomination, or were appointed by the ICC Court, representing close to 30% of all appointments and confirmations. 
• Of all arbitrator appointments made by the ICC International Court of Arbitration in 2023, 41% were women. 

In Conclusion

These statistics show that the ICC continues to be one of the preeminent arbitral institutions in the world. Its geographic scope demonstrates that parties, irrespective of nationality or jurisdiction, continue to use the ICC rules as their base for solving their disputes — particularly if they are of a high value.