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10/27/2021
Country risk and economic studies

All the News

02/14/2021
Corporate news

COFACE SA: Moody's raises the outlook for Coface to "stable"

The rating agency Moody’s, on 10th February 2021, has confirmed the financial strength rating (Insurance Financial Strength – IFS) for Coface at A2. The agency has also raised the outlook for Coface, which is now stable.

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12/01/2020
Corporate news

How did CEE Top 500 companies perform

CEE TOP 500 players: Total turnover increased by 5.5% to EUR 740 billion in 2019

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10/01/2020
Country risk and economic studies

COVID-19, a catalyst for political risks

In addition to our Q3 2020 Country & Sector Risk updates, Coface's Political Risk Index highlights a dual trend: a decrease in the risk of conflict at a global level, but an increase in the risk of political and social fragility.

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09/24/2020
Country risk and economic studies

German companies have switched to "crisis-mode" and offer less payment terms

German companies want to cash in as early as possible, according to the fourth edition of Coface’s survey on corporate payment experience in Germany, conducted in July and early-August 2020, with 753 participating companies located in Germany.

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07/23/2020
Country risk and economic studies

Post-pandemic production relocation: an opportunity for CEE countries?

Foreign trade and inclusion in supply chains had already increased in recent years, supported by EU membership by most CEE (Central and Eastern European) countries in 2004.

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07/16/2020
Country risk and economic studies

Global Transport: What does the future hold beyond COVID-19?

The COVID-19 pandemic has triggered a mobility crisis, mainly because of physical distancing requirements and the necessity to avoid confined spaces, to limit the virus'propagation. This has had a disastrous impact on the global transport sector, with air passenger transport being the most affected segment.

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07/09/2020
Country risk and economic studies

United States: Two-speed business bankruptcies

As the COVID-19 epidemic hits the United States very hard, Coface forecasts in its baseline scenario that the country's GDP will contract by 5.6% in 2020, before rebounding by 3.3% in 2021. Nevertheless, this forecast is threatened by the resurgence of the outbreak in several states, which are already pausing or even reversing the resumption of activity after the extensive lockdown of April.

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07/01/2020
Country risk and economic studies

Asia Corporate Payment Survey 2020: COVID-19 will overturn last year's incipient recovery

After a 2019 that was dominated by trade tensions between the United States and China, Coface has observed an incipent recovery in Asia (excluding China), supported by supply chain shifts and additional liquidity from the US Federal Reserve.

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06/23/2020
Country risk and economic studies

Business insolvencies in Europe: Amendments to legal procedures temporarily postpone due dates

Many European countries have temporarily amended the legal framework of default procedures to help companies deal with the crisis, postponing growth of insolvencies in Europe.

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06/23/2020
Country risk and economic studies

Are corporate balance sheets in Spain and Italy ready for the COVID-19 shock?

Although the second quarter of 2020 is shaping up to be the most challenging period of the year, there are now good reasons to think that the road to recovery will be long and arduous. Despite immediate tax deferrals, liquidity guarantees, it is likely that many firms will find themselves in difficulty.

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06/08/2020
Country risk and economic studies

Coface Barometer: From a massive shock to a differentiated recovery

Coface forecasts that the recession in 2020 (a 4.4% drop in world GDP) will be stronger than that of 2009. Despite the recovery expected in 2021 (+5.1%) - assuming there is no second wave of the coronavirus pandemic - GDP would remain 2 to 5 points lower in the United States, the eurozone, Japan, and the United Kingdom, when compared to 2019 levels.

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06/02/2020
Country risk and economic studies

China Payment Survey 2020: Payment delays will increase further because of COVID-19

In the context of weaker activity in China due to the health crisis, Coface’s latest survey on business payments in China shows a deterioration in payment behaviour in 2019.
66% of surveyed companies reported payment delays. The length of payment delays remained stable at 86 days in 2019. Nevertheless, sectors that have been hit the most by lockdown measures will have to delay payments in order to survive in 2020 and the number of corporate insolvencies should increase.

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05/28/2020
Country risk and economic studies

World Trade: despite a sudden interruption, global value chains still have a bright future

Early 2020 marked by a sudden interruption in world trade, hampered by a global recession and soaring uncertainty.

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04/29/2020
Country risk and economic studies

COVID-19 swings the spotlight back onto emerging countries' debt

While the focus has mainly been on China, Europe and the USA so far, the consequences of the Coronavirus pandemic are likely to be even more severe in emerging countries.

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04/23/2020
Corporate news

First quarter shows solid operational performance but is impacted by the initial effects of the COVID-19 crisis

Xavier Durand, Coface CEO, commented: "The coronavirus crisis presents an unprecedented shock for our economies and for the credit insurance industry. First and foremost, I am very proud of our teams' successful efforts to continue supporting our customers despite the containment measures..."

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04/14/2020
Country risk and economic studies

Can China shield its economy from the impact of COVID-19?

Due to the current coronavirus (COVID-19) pandemic and its impact on the global economy, it is unlikely that China will be able to achieve its 2020 growth target. Coface forecasts a growth rate of 4% for the Chinese economy in 2020.

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04/07/2020
Country risk and economic studies

Coface Barometer: COVID-19 - heading towards a sudden global surge in business insolvencies

At first, the COVID-19 epidemic in China only affected a limited number of value chains - but it has since turned into a global pandemic. Its repercussions have created a double shock - supply and demand - that is affecting a large number of industries in all over the world.

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09/05/2019
Country risk and economic studies

Coface publishes CEE Top 500 companies

The international credit insurance company presents its eleventh annual study on the biggest 500 companies in Central and Eastern Europe - the Coface CEE Top 500. It ranks businesses by their turnover and additionally analyses further facts such as the number of employees, the framework of the companies, sectors and markets as well as the new Coface company credit assessments. The economic development of the CEE Top 500 is representative of the market trend in the entire region.

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07/10/2019
Country risk and economic studies

Asia Corporate Payment Survey 2019: Deteriorating payment trends amid trade war woes

Coface’s 2019 Asia Corporate Payment Survey covered over 3,000 companies in nine economies (Australia, China, Hong Kong, India, Japan, Malaysia, Singapore, Thailand and Taiwan). 63% of companies surveyed stated that they experienced payment delays in 2018. The length of payment delays increased to 88 days on average in 2018, compared to 84 days in 2017. The length of payment delays was highest in China, Malaysia and Singapore; as well as the energy, construction and ICT sectors.

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07/04/2019
Country risk and economic studies

Coface's political risks overview: the temperature is rising on the African continent

With numerous bouts of conflicts, terrorism, and social and political tensions, which show no signs of stopping in the near future, Africa will continue to experience fragility and destabilisation.

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07/04/2019
Country risk and economic studies

Coface Barometer - Trade tensions return to the forefront of the global economy

US/China trade war, struggling automotive sector, slower growth in emerging economies... the second quarter of 2019 highlights a global economic slowdown

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06/26/2019
Country risk and economic studies

Natural gas: an oscillation between boom and gloom

The natural gas market is booming and will increase in the medium term, but many factors point to a less promising future.

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06/19/2019
Country risk and economic studies

Morocco: payment delays are improving but remain too long

Coface's fourth survey on payment terms in Morocco shows a situation that remains worrying despite a slight improvement.

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05/30/2019
Country risk and economic studies

Corporate insolvencies in France: microenterprises in the trough of the wave

While the yellow vests movement did have a strong impact on corporate insolvencies at the beginning of the year, the decline in mobilization and the resilience of economic growth had a positive impact on the health of French companies in March and April.

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05/15/2019
Country risk and economic studies

In a global economic slowdown, luxury continues to outperform but faces new challenges

Counterfeiting, e-commerce, Chinese consumers importance, even if it is generally relatively spared by recessions, the luxury market must adapt to a profoundly changing economy if it does not want to lose its exceptional status.

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04/10/2019
Country risk and economic studies

Despite five years of Modinomics, India continues to be constrained by economic fragilities

When Narendra Modi ran for Prime Minister in 2014, he pledged to boost the competitiveness of India’s industrial sector to promote growth. Modi will be running for president again in India’s general elections between 11 April and 19 May. The economy is in a better position than it was in 2014, but many of the structural fragilities that Modi inherited continue to afflict India today and a mixed track record in terms of economic reforms has dampened enthusiasm for Modi.

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04/08/2019
Country risk and economic studies

Mexico and Brazil taking opposite directions in terms of energy policies

2019 will be marked by high volatility in the global oil market - Brent crude oil price to average USD 65 in 2019, according to Coface estimates - In Mexico, the financial stress already faced by Pemex might not be contained - Brazil oil policy is expected to have positive knock-on effect in the medium term.

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03/27/2019
Country risk and economic studies

China Payment Survey 2019: Longer delays as growth falters

2018 proved to be a relatively challenging year for China. Growth slowed to 6.6% and is expected to decline further in 2019 (6.2%, according to Coface forecasts). As a result, 59% of the 1500 Chinese companies that participated in Coface’s survey believe the economy will not improve in 2019, the worst since 2003...

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03/04/2019
Country risk and economic studies

Turkish economy: domestic demand still waning but exports fuelled by the lira's depreciation

Stagflation becoming a reality, exports are a key-source of revenues for economy, especially in the automotive sector. Exporters are flexible; government support is vital for exporters to gain new market shares.

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12/21/2018
Country risk and economic studies

Tighter global liquidity and Asia: not all gloom and doom

Asia has been under pressure following tighter global liquidity in 2018. Coface’s index for measuring relative vulnerability to outflows points to increasing divergence in Asia.

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12/06/2018
Country risk and economic studies

French companies in 2019: Rise in insolvencies

After two years of improvement, insolvencies are on the rise and this trend should continue in 2019 (forecast of +0.8%). This uptrend mainly affects micro-enterprises with revenues of less than EUR 500,000.

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11/19/2018
Country risk and economic studies

SMEs in China: Monetary easing won’t be sufficient to reduce credit pressure

When considering risk in the Chinese economy, a lot of the discussion has focused on large State-Owned Enterprises (SOEs) or large private conglomerates (...)

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11/06/2018
Country risk and economic studies

Wind energy industry: Production costs will increase under the influence of the trade war and the liquidity squeeze

Alongside other renewables, wind energy has experienced a strong growth since the mid-2000s across the world (...)

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10/25/2018
Country risk and economic studies

Halfway through its trade diversification process, the United Arab Emirates is yet to be integrated into international value chains

In the last three decades, the UAE has developed into the second largest and most diversified economy in GCC area through the implementation of specific policy frameworks regarding regulations (...)

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10/18/2018
Country risk and economic studies

Country and sector risks worldwide: Some emerging economies become increasingly vulnerable

Higher oil prices and continued capital outflows from emerging markets mark the third quarter of 2018

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10/16/2018
Country risk and economic studies

US protectionism: Significant knock-on effect on trade partners of targeted countries

Use of import tariffs by the US has doubled since 2009, with a sharp increase between 2016 and 2018. Nevertheless, these tariffs still only account for one-sixth of protectionist measures in place worldwide.

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10/11/2018
Country risk and economic studies

Central & Eastern European insolvencies: The good times are over

Poland, Hungary and particularly Croatia registered significant surges in insolvencies while Slovakia and Czech Republic recorded decreases

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09/20/2018
Country risk and economic studies

Political risks in Asia are on the rise

According to Coface’s Political Risk Index, Asia scored 45% on the latest risk ranking, above the world average of 35% (...)

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06/27/2018
Country risk and economic studies

Coface announces CEE Top 500 companies: Household consumption boosts economic activity in CEE

The international credit insurance company Coface presents its tenth annual study on the biggest 500 companies in Central and Eastern Europe - the Coface CEE Top 500. It ranks the businesses by their turnover and additionally analyses further facts such as the number of employees, the framework of the companies, sectors and markets as well as the new Coface company credit assessments. The trend of the CEE Top 500 reflects developments in the region.

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06/27/2018
Country risk and economic studies

Country and sector risks worldwide: Signals of risk on the increase in the 2nd quarter

Downgraded assessments in the majority this quarter

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06/06/2018
Country risk and economic studies

Global metals sector: prices to continue to rise in 2018, ahead of a possible slight decline in 2019

On the back of highly-synchronised economic growth, technological shifts boosting a surge in the use of metals and a shortfall in supply, metals have been benefitting from a bull market since mid-2016.

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06/04/2018
Country risk and economic studies

Election season in Latin America: Growing political risks undermine economic activity

The Coface Political Risk Index takes into consideration various risk aspects: political and social fragility issues, conflicts and terrorism.

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05/14/2018
Country risk and economic studies

Western Balkans' accession to EU membership likely to be completed - supported by the region's strategic importance

The European Union - Western Balkans Summit will take place in Sofia, Bulgaria, on the 17th of May 2018. This meeting aims to reaffirm the EU’s commitment towards the Western Balkans gaining EU membership. Coface’s economists see the EU accession as likely to happen, particularly as it would counterbalance Russian and Chinese presence in the region.

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04/24/2018
Country risk and economic studies

Africa: diminishing reserves increase risks of another crash

Adversely affected by the slump in raw material prices, most African currencies lost over 20% of their value between 2013 and 2016

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04/10/2018
Country risk and economic studies

China Corporate Payment Survey 2018

The aim of this exercise is to better understand corporate credit management practices and payment experiences. In our latest survey, data collection was conducted during the final quarter of 2017, and valid responses were received from 1,003 companies.

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03/12/2018
Country risk and economic studies

NAFTA renegotiations - could Mexico's "high-risk" automotive industry deteriorate into a crisis?

Mexico's automotive industry plays an important role in its economy.

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03/12/2018
Country risk and economic studies

Poland Payment Survey 2018: Payment delays mounting amid robust economic growth

According to our analysis, covering a wide range of company sizes and sectors, sales on credit are made extensively, with all surveyed companies having written terms and conditions to this end, and that 99% of corporates continue to face payment delays, some of which are long and unlikely to be fulfilled.

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12/12/2017
Country risk and economic studies

Although dynamic, France's organic food sector could be forced to abandon its original principles in order to increase scale

The increasing preference of households for organic food is reflected in the sector’s very strong growth which is expected to exceed €8 billion in 2017

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11/27/2017
Country risk and economic studies

Germany's corporate payment survey 2017

The second annual corporate payment survey for Germany carried out by Coface confirms many of the foregone trends. However, some improvements can be seen.

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11/24/2017
Country risk and economic studies

Poland Insolvency Report: Insolvencies and restructuring proceedings still on the rise, despite a robust economy

Insolvencies and restructuration proceedings increased by 14% in the first three quarters of 2017 compared to the same period last year. Most sectors experienced an increase in the number of proceedings.

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11/20/2017
Country risk and economic studies

The effects of a "hard" Brexit will be decisive for the innovation capacity and competitiveness of the British automotive industry

After an exceptional peak in production of vehicles recorded in mid-2016 (1.02 million unit sales, up 8.5% for the January-August period compared to the same period in 2015), 2017 saw a drop in production of nearly 2%...

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11/08/2017
Country risk and economic studies

Embargo on Qatar: Manageable for the time being, but not perennially

On June 5 2017, Saudi Arabia, the United Arab Emirates, Egypt and Bahrain (known as the quartet) announced they were breaking diplomatic ties with Qatar (...)

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11/07/2017
Country risk and economic studies

China's ambitions in sub-Saharan Africa: efforts to rebalance bi-lateral relations still needed

Almost twenty years after the launch of the first Forum on China-Africa Cooperation, China-Africa relations remain unbalanced. Bilateral trade has leaped over the past ten years (a total of $123 billion in 2016), driven, up to 2014, by exports, which have fallen by 51% since the peak.

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09/29/2017
Corporate news

Coface appoints two new regional CEOs to lead Central & Eastern Europe and Northern Europe, effective November 1st 2017

Xavier Durand, Coface CEO, commented: "As we focus on executing our strategic plan, Fit to Win, these appointments bring a wealth of experience that helps drive our ongoing revitalisation and transformation into the most agile global trade credit partner in the industry."

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09/27/2017
Country risk and economic studies

Financing businesses: the bond market is turning into a "spare tyre"...

Corporate bond financing: an advantage in times of crisis?

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09/26/2017
Country risk and economic studies

Country and sector risks: Europe remains the big winner in the world economic upturn

World economic growth might not yet be at its highest (2.9% in 2017 and 2018), but there can be no denying that there are healthy signs.

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09/08/2017
Country risk and economic studies

Infrastructure: the Achilles' heel of development in Latin America

Weak development of infrastructure in the region. Poor record in improving investment rates.

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08/03/2017
Country risk and economic studies

How could "Trumponomics" affect Latin America's economies?

Political developments in the US have caused uncertainties over the trade policies that could be implemented and the region's vulnerability to tighter financial conditions.

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07/19/2017
Country risk and economic studies

GCC banks urged to fine-tune liquidity management in order to address new economic cycle - Coface Economic Report

The stagnation of low oil prices is weighing on liquidity conditions across Gulf Cooperation Council (GCC) countries.

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07/11/2017
Country risk and economic studies

Asia Corporate Payment Survey 2016: Tail risks are on the rise

Coface's latest annual payment survey covered 2,795 corporates in the Asia Pacific region, focusing on 8 markets: Australia, China, Hong Kong, India, Japan, Singapore, Taiwan and Thailand. The survey also traced the evolution of corporate payments in 11 sectors.

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07/04/2017
Country risk and economic studies

Country and sector risks worldwide

The second quarter of 2017 marked a new start for Europe, Russia and, on the sector side, for the automobile and agrofood industries in several countries.

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05/25/2017
Corporate news

Coface re-organises its structure in the Adriatic region

We are making significant progress in the implementation of the operational efficiency program, 2017 being a transition year, where we remain focused on the execution of our plan. One of the efficiency projects is the creation of an Adriatic center, servicing Slovenian and Croatian clients from Zagreb, Croatia.

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05/02/2017
Country risk and economic studies

Labour shortages in the Central and Eastern Europe region: an opportunity for households but a threat for local companies

Developments in Central and Eastern Europe (CEE) labour markets have been beneficial for households. Rising wages and low inflation, combined with improving consumer confidence, have led to lower unemployment rates and an increase in private consumption.

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03/24/2017
Country risk and economic studies

New Coface Political Risk Index in 159 countries

The widespread rise in the political risk conceals mixed regional dynamics.

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01/12/2017
Country risk and economic studies

Poland Payment Survey: Payment delays pervade Polish corporates

Coface's payment survey confirms that sales on credit are being extensively used by Polish companies. Although credit periods have become common practice, it does not mean that receivables are being paid on time.

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12/20/2016
Country risk and economic studies

South Africa's economy challenged by crises in agriculture and mining, amid fears of an investment downgrade

Concerns over the country’s economic performance have been amplifying, due to its prolonged economic decline since 2011.

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12/19/2016
Country risk and economic studies

After a series of shocks in 2015 and 2016, Turkey's economy is coming to the end of its new “Tulip era”

Greater political uncertainty resulting from two parliamentary elections in 2015, drying global liquidity due to the US Federal Reserve’s rate hike process and the weaker Turkish lira, all contributed to dragging down growth.

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12/13/2016
Country risk and economic studies

Uberisation of French economy: a positive impact on employment but will it last?

Taxi company insolvencies in France increased by nearly 60% in one year, rising from 141 cases in August 2015, to 224 at the end of August 2016 and resulting in the loss of 3.38 jobs on average (...)

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08/30/2016
Country risk and economic studies

New Germany Corporate Payment Survey 2016

Despite the solidity of Germany's economy, payment delays are still commonplace

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07/13/2016
Country risk and economic studies

Coface Insolvency Panorama for Central and Eastern Europe: Less business insolvencies due to favourable economic conditions

The number of insolvencies decreased over the course of 2015 in 9 out of 13 countries, while the GDP-weighted regional insolvency average was -14%.

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06/29/2016
Country risk and economic studies

Insolvencies in Northern Europe: Positive trends in the Netherlands, Sweden and Germany

Europe's improved macroeconomic situation has had favorable effects on businesses in most European countries and led to fewer insolvencies in 2015 in the four Northern Europe countries.

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06/06/2016
Country risk and economic studies

24 nations warming up for the euro 2016

Country risk assessments of qualified countries: their current form

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05/31/2016
Country risk and economic studies

No improvement in Asia Pacific corporate payments in 2015

Coface's annual survey on Asia-Pacific economies questioned 2,793 companies in 8 markets: Australia, China, Hong Kong, India, Japan, Singapore, Taiwan and Thailand. The survey traced the evolution of corporate payments in 11 sectors of activity. 85% of companies offered sales on credit terms to their customers, as a solution to tackling their problems of liquidity.

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05/30/2016
Country risk and economic studies

Is the French economy definitely taking off?

A number of positive indicators for the French economy appeared between January and April 2016.

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05/17/2016
Country risk and economic studies

What to expect from Brazil's perfect storm?

Brazil is in the midst of a perfect storm. The enduring political crisis and deep economic recession, which led to the collapse of confidence indexes, have now been topped by an impeachment trial of President Dilma Rousseff.

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05/11/2016
Country risk and economic studies

Hungary: Private consumption rising but challenges remain for corporates

Hungary is performing well, considering the context of struggling economies globally.

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05/04/2016
Corporate news

Coface Q1-2016 results: A tough quarter in a polarized environment

This has been a tough first quarter. Business turnover and profits were lower compared to the same period last year, against the backdrop of a polarized and volatile economic environment.

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01/26/2016
Country risk and economic studies

Paris: Country Risk Conference 2016

Three risks to monitor in 2016: weak growth, political tensions and company debts in emerging economies
- Advanced economies: many causes for concern, including financial market volatility, cheap oil and the Chinese slowdown
- Emerging countries: in addition to sluggish growth, increasing indebtedness of companies
- Increased political risks likely to affect business confidence in all regions

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11/18/2015
Product news

Coface launches Policy Master - Customized service tool enables more efficient credit insurance management

Coface pursues its strategy of innovation, expanding its online offer with Policy Master, an online application that will help clients in handling their policy more efficiently. With this new tool Coface facilitates credit organisation teams’ risk management by reducing administrative work and introducing alerts and notifications for clients.

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08/28/2015
Country risk and economic studies

Coface CEE Top 500 Companies

• 2014: A year of improvement throughout the region - turnover increased by +2.1%
• Higher turnover of the biggest companies reflected better economic prospects in 2014
• Poland was the biggest player, Hungary had the highest growth rate and the Czech Republic recovered
• Sectors: Automotive industry (+10.6%) top, oil & gas sector flop (-3.9%)

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06/01/2015
Country risk and economic studies

Coface Insolvency Monitor for Central and Eastern Europe: Economic perspectives improved but corporate challenges remain

CEE's improved economic activity in 2014 resulted in the stabilisation of company insolvencies, with a minor drop of -0.5% in the regional average.

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03/09/2015
Country risk and economic studies

Corporate overdue payments in China at high levels: 80% of corporates affected in 2014

Slower growth and increase in non-performing loans expected in 2015.

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11/20/2014
Corporate news

After the economic crisis, what does the future hold for pharmaceutical companies in Europe?

The pharmaceutical sector's dependence on the economic situation of European countries proved to be crippling for the industry during the 2008-09 crisis, and once again during the sovereign debt crisis of 2011-12. Particularly weakened by reduced health expenditure in Europe, pharmaceutical companies are now looking to revive, expand into new markets and invest in niche markets to break the deadlock.

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11/20/2014
Country risk and economic studies

Coface quarterly sector risks assessments: 14 sectors in three major regions of the world

Coface quarterly sector risks assessments: 14 sectors in three major regions of the world.

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10/30/2014
Corporate news

Results at 30 September 2014: Coface continues to progress on a path of growth and profitability

Coface's performance is in line with objectives. At the end of these first nine months, the Group has posted satisfactory growth and solid profitability.

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09/29/2014
Country risk and economic studies

UAE economy grows stronger thanks to effective diversification policy

- 5% growth projected for 2014 on the back of successful diversification policy
- Favourable business environment, supported by new company law to improve transparency
- Debt profile improves. Financing needs of government-related entities (GRE) continues to be a question

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09/24/2014
Country risk and economic studies

Carrot-and-stick: Challenges ahead for the Chinese economy

Since the beginning of the year, the Chinese government has continued its efforts to implement various items on the reform agenda, particularly those concerning...

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09/11/2014
Product news

Launch of CofaMove application: CofaNet goes mobile

Coface now offers customers a mobile application providing access anywhere and at any time to the essential features of Cofanet, its online platform for managing credit insurance contracts. The application will be available for download at the Apple App Store and Google Play Store.

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09/03/2014
Country risk and economic studies

Romania at the front line of economic growth in 2013 - but will it catch up after the contraction in 2014?

Romania's economic performance has made it one of the leaders in Europe's recovery. Its growth has exceeded expectations, with GDP rising by 3.5% in 2013. Significant contributions came from the agricultural and industrial sectors, in particular from car production supplying mainly foreign customers. Although Romania will not continue this pace of growth in 2014, the outlook remains positive.

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08/25/2014
Country risk and economic studies

CEE Top 500 2014

The international credit insurance company Coface presents its sixth annual study on the Top 500 companies in Central and Eastern Europe - the Coface CEE Top 500.

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07/27/2014
Country risk and economic studies

Adriatic Top 50

For the third time, Coface is publishing the Adriatic/Balkan Top 50. The economic problems of the region in the last few years have also taken their toll on the top players: Total turnover declined by 1.2% to EUR 39 billion, and profits decreased dramatically by almost 16% to EUR 702 million.

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07/10/2014
Country risk and economic studies

Downgraded to A4, Brazilian economy gears towards a year of adjustments in 2015

Coface expects a considerable slowdown of GDP in 2014 (at +1.3% in 2014, down from +2.5% in 2013), due to household consumption growing at a slower pace, investments losing momentum and a weak trade balance. Coface considers 2015 to be a turning point, boosting GDP in the medium term.

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07/04/2014
Product news

Credit insurance

As a new service on Croatian market Coface Croatia provides a comprehensive line of credit insurance to protect companies against potential non-payment by their customers.

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06/25/2014
Country risk and economic studies

The Turkish economy - what to expect in 2014

Prior to the forthcoming presidential elections in August 2014, Coface is cautious in its assessment of corporate risks in Turkey. If political tensions rise again, as happened in December and January, investors may flee the country which could result in a fluctuation in Forex markets. Such a situation would negatively impact the corporate sector's external debt stock, already at a record high.

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06/05/2014
Country risk and economic studies

Stabilisation of corporate overdue payments in Asia Pacific but new worries over slowing growth in China

According to the Coface survey of credit risk management in Asia Pacific, corporate payment experience in the region stabilized overall in 2013, with the exception of companies in Australia and China which saw a greater number of non-payments. Slowing growth in China remains a concern for corporates in other economies in the region in 2014.

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04/15/2014
Country risk and economic studies

New paradigm for the electronics industry in Asia: clear dynamism, increased risks

Having passed from the stage of Global Production Networks to Global Innovation Networks (which include the development of products and research activities beyond geographical borders), the electronics industry should now experience annual growth of over 3% through to 2017. With emerging Asia the new epicentre of electronics innovation, local companies are now counting on the internalisation of production and research.

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04/15/2014
Country risk and economic studies

Coface quarterly credit risks survey: 14 sectors in three major regions of the world

In the first quarter of 2014, the level of credit risk remains particularly high in the metal, automotive and construction sectors.

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04/10/2014
Country risk and economic studies

CEE Insolvency Report 2013: Increased insolvencies due to weak economic framework

The record year of 2012 was even topped in 2013: 5% more insolvencies in 2013 in CEE due to the slowdown of the Eurozone and fiscal measures.

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03/25/2014
Country risk and economic studies

Country risk assessments: United States one of best risks whilst major emerging economies struggle

The upturn in the advanced economies (1.9% forecast for 2014, after 1.2% in 2013) is reflected in the upwards revision of the country risk assessments for the United Kingdom and the United States, which join the best risk category.

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03/25/2014
Country risk and economic studies

Coface identifies 10 emerging countries hot on the heels of the BRICS

After 10 years of frenetic growth, the BRICS are slowing down sharply: for 2014, Coface forecasts growth of on average 3.2 points lower than the average growth these countries registered over the previous decade.

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03/13/2014
Product news

Coface Select: Instant on-line access to reports on companies throughout Europe

Coface, the leading credit insurance and information provider in Central Europe, launches Coface Select, an innovative online product allowing companies to select potential business partners and monitor existing customers at the click of a mouse. Access to a database is provided 24/7 and standardised reports on companies in 22 countries can be downloaded instantly.

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03/06/2014
Country risk and economic studies

China sees highest level of corporate overdue payments since 2010

Coface's survey of corporate credit risk management in China, carried out in the fourth quarter of 2013, revealed that 8 out of 10 companies in China experienced overdue payments in 2013.

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03/04/2014
Corporate news

On-line Coface Business Reports: now available for 54 countries

Coface, global Credit insurer and the leading Information provider in Central Europe, enhances its on-line offer on relevant and up-to-date information on buyers and their environment. The Business Reports will now be available for 54 countries ranging from the USA via Germany to Turkmenistan and Qatar.

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12/17/2013
Country risk and economic studies

Positive changes in North America and Asia

Risks have been upgraded to ‘moderate’ in the retail and automobile industries in North America and the services industry in emerging Asia.

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07/16/2013
Country risk and economic studies

Brazil's economic woes: any chance of a kick start?

The archetypal emerging country, Brazil passed the test of the great crisis of 2009 with flying colours. Four years on, social protests have begun to highlight the failure of its growth model. While inequality is on the decline, it remains significant. Because of a tight labour market and major gaps in infrastructure, the infamous "Brazil cost" has placed a heavy burden on business performance.

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06/13/2013
Country risk and economic studies

Italy: Company payment practices worsen, reflecting the severity of the recession, the preponderance of fragile small companies and the sheer scale...

With one of the most industrialised economies in the Eurozone, Italy has seen 7 consecutive quarters of GDP contraction. The level of activity declined by -2.4% in 2012, and is expected to contract by -1.7% in 2013 (compared with -0.6% for the Eurozone).

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04/18/2013
Corporate news

Coface "Panorama sectors"

The gap between Europe and the rest of the world is widening with regard to sector risk.

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