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CHINA PAYMENT SURVEY 2022

Coface’s China Corporate Payment Survey 2022, in which 1,000 companies participated, shows that fewer firms encountered payment delays in 2021, but those that did reported longer periods of overdue payments than in the previous year. The average payment delay rose from 79 days in 2020 to 86 days in 2021. Firms in 9 out of 13 sectors reported an increase in payment delays, led by agri-food, which recorded a large 43-day increase, followed by wood, transport, and textile. The top reason for payment delays was customers’ financial difficulties, which were caused by competition-related pressures on margins, and, increasingly, by higher raw material prices and slowing domestic economic growth.

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WAR IN UKRAINE: MANY (BIG) LOSERS, FEW (REAL) WINNERS

More than two months after the start of the war in Ukraine, prospects for a rapid resolution of the war seem increasingly unlikely.

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RUSSIA-UKRAINE CONFLICT: STAGFLATION AHEAD

In this Focus, the Coface Economic Research team examines the economic consequences of the Russia-Ukraine conflict, rising commodity prices in particular.

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SECTOR RISK ASSESSMENT - Q4 2021

Coface's assessments of 13 major global sectors are based on 75 years of Coface expertise and on the financial data published by listed companies from 6 geographical sectors. These assessments are based on Coface’s expertise and payment experience data, external financial data forecasts (quantiles), and multifactorial key items (commodities price forecasts, structural changes, Coface country risk assessment).

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COUNTRY RISK ASSESSMENT MAP - Q4 2021

The latest edition of the Coface Country Risk Map. Consult and download Coface's risk assessments of 162 countries across the world.

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POLAND PAYMENT SURVEY 2022

Poland Corporate Payment Survey 2022: Return to normality – unwinding support programs, longer payment delays. The sixth edition of Coface’s survey on payment experience in Poland was carried out in November and December 2021 with 331 companies participating in the study.

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COUNTRY & SECTOR RISK BAROMETER - Q4 2021

Two years after the onset of the pandemic, the global economy continues to recover, but still faces significant challenges. After the relative lull of the third quarter, the emergence of the Omicron variant and its rapid spread to every region of the world has highlighted the unpredictability of the pandemic, despite the progress in vaccination. Consequently, the health situation has once again required the implementation of new restrictions this winter in a majority of countries.

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MOROCCO PAYMENT SURVEY 2021

During the second quarter of 2021, Coface conducted its fifth survey on the payment behaviour of companies in Morocco, with the objective to monitor the evolution of payment terms and delays. Payment behaviour reflects both the evolution of the economic conjuncture and the business environment.

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COUNTRY & SECTOR RISK BAROMETER: Q3 2021 QUARTERLY UPDATE

More than 18 months after the global recession triggered by the COVID-19 pandemic started, the economic recovery continues.This trend owes much to progress in the vaccine rollout over the summer, particularly in advanced economies, allowing for the easing of mobility restrictions.

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In the COVID-19 aftermath, Latin American exports towards China should continue to gain ground at the United States’ expense

The trade relationship between China and Latin America has expanded considerably over the past two decades, gradually standing out (compared to the United States) as an important market for the region’s exports.

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HAS THE GLOBAL RETAIL SECTOR RETURNED TO NORMAL?

The retail sector’s activity has been affected by COVID-19 through social distancing measures and closure of stores. However, the effect of the pandemic on the retail sector varies across countries.

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New wave of post-pandemic social movements: International trade as a collateral victim

While the restrictions linked to the COVID-19 pandemic put a stop to the resurgence of social movements, a new wave is on the horizon. The resurgence of mass protests, which had already been strong since 2017, mainly in emerging countries, is expected to accelerate again due to the unprecedented deterioration of socio-economic indicators.

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Germany Corporate Payment Survey 2021

For the second consecutive year, although Germany experienced a strong recession, the number and duration of payment delays in the country both decreased. Learn more in the fifth edition of our Germany Corporate Payment Survey.

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What perspectives for the United Arab Emirates after COVID-19?

Middle East & Turkey economist Seltem Iyigun investigates the perspectives for the United Arab Emirates following the coronavirus pandemic in this Coface Focus.

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Will the electric vehicle metals boom last?

Metals used in electric vehicles are in high demand, as these cars at the forefront of a revolution in the automotive industry. Stringent regulations, States’ support schemes, and customers’ willingness to buy and own EV are bolstering demand for these vehicles. However, imbalances between supply and demand are pushing prices higher, while EV market shares have not overtaken that of traditional engines.

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Country & Sector Risk Barometer: Q2 2021 Quarterly Update

Global GDP growth rate for 2021 revised upwards; Coface forecasting model indicates an 11% growth in world trade for this year.

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ASIA PAYMENT SURVEY 2021: SHORTER PAYMENT DELAYS AMID SUPPORT MEASURES

More companies in Asia Pacific offered credit facilities in 2020 as competition intensified amid the challenging economic conditions brought on by the COVID-19 pandemic. However, firms had different responses to credit management despite facing similar economic shocks, including reduced demand, displacement of workers, higher material costs, and disruptions to business operations and supply chains. Firms in China, Japan, Singapore and Malaysia reduced payment terms in 2020, while those in Australia, Hong Kong, India and Taiwan increased theirs, according to the latest Coface Asia Corporate Payment Survey. Thailand maintained its payment terms. On average, credit terms in Asia Pacific were broadly stable, inching down from 67 days in 2019 to 66 days in 2020.

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The risks and opportunities of virtual offshoring

The pandemic will soon be over, but the cultural changes it has brought will continue to shape the economy for years to come. Among these, the normalization of remote work is one of the most consequential. The massive telecommuting experiment forced by the great lockdown shattered many myths about what a remote workforce can achieve. With permanent telecommuting no longer a taboo, employers will be increasingly tempted to hire teleworking talent in developing countries. Many emerging economies are quickly catching up on education and technological development; yet labour costs remain lower by an order of magnitude. More and more office work will be performed in the developing world and then immaterially exported to wealthier countries at a fraction of its domestic cost. This trend towards “virtual offshoring” is driven by strong financial incentives. For instance, firms in a country like France would reduce labour costs by an estimated 7% if 1 out of 4 teleworkable jobs were virtually offshored. Coface estimates the total number of teleworkable jobs in high-income economies at around 160 million. In turn, the number of potential teleworkers in low and middle-income economies is close to 330 million.

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China Payment Survey 2021: Shorter credit terms for most sectors except construction, food and automative

The onset of the COVID-19 pandemic in 2020 increased the level of uncertainty regarding the business outlook, pushing Chinese companies to tighten their credit management tools as part of the efforts to improve cash-flow positions and remain viable in a difficult economic environment. Coface’s 2021 China Corporate Payment Survey shows that payment terms shortened by 11 days on average in 2020, falling to 75 days, while the distribution of credit terms leaned towards a shorter rather than longer period.
The proportion of respondents offering average credit terms between 31 and 60 days increased from 20% to 30% in 2020, coinciding with the decline of those offering above 120 days to only 13%.

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Germany: More insolvencies in the pipeline

Coface's Northern Europe economist, Christiane von Berg, examines Germany's "hidden insolvencies" in our Focus.

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