Faced with fluctuations in hydrocarbon prices and economic sanctions from Western countries, Russia has developed a strategy that favours "Made in Russia" - but the results have remained mixed.
In an effort to accelerate the diversification of its economy following Western sanctions linked to the annexation of Crimea, Russia has implemented a series of mechanisms to reduce its dependence on imports and hydrocarbons. But the willingness to substitute local production for imports depends on many factors, not all of which are present.
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Rising protectionism in China and the United States, Brexit, contracting world trade... despite all the clouds on the horizon, the Dutch economy remains surprisingly bright.
A dominant global maritime and economic power in the 17th century, the Netherlands has remained a major player in world trade. In 2018, the Netherlands was the sixth-largest merchandise exporter in the world and, in terms of GDP, ranked third in 2015 (just behind Ireland and Switzerland).
Insolvencies in Central and Eastern European Countries (CEE): despite an increasingly difficult global economic context, the situation remains posit...
The Central and Eastern European region has experienced unparalleled growth in the European Union. However, a slowdown is expected in the coming years.
The CEE region has seen an improvement in economic activity in recent years. In 2017 and 2018, GDP growth in the region rose to 4.6% and 4.3%, respectively, the highest rates since 2008.
Coface publishes CEE Top 500 companies: Do external risks overshadow long-lasting solid economic growth in Central and Eastern Europe?
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.Read More
Despite improving economic performances across the Gulf Cooperation Council (GCC), monetary and financial conditions remain tighter compared with before 2015. Access to financing remains one of the key issues for companies, particularly for small- and medium-sized enterprises (SMEs). Loan growth in the region has recovered somewhat thanks to higher oil prices, but it remains below its historical averageRead More
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.Read More
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 destabilization. The countries on the African continent have been regularly afflicted by conflicts of different intensity and nature in recent decades that made them suffer from a decline in investment and trade flows, delaying the development of some countries on the continent. In its latest panorama of political risks, Coface looks at the African continent and highlights, not only the latest trends in terms of conflicts, but also the risks of instability that impact the region's economic development.Read More
A new survey conducted by Coface Romania on the wholesale of pharmaceutical products indicates a positive trend of the revenues of the companies operating in this sector of activity in 2017, but with a slight decrease in profitability. This study aggregated the data of 1,662 companies, which submitted the financial data for 2017 and generated RON 28.6 MLD consolidated turnover.Read More
Coface Survey: 33% decrease of Insolvencies in Romania in H1 2019 compared to the same period of the previous year
A new survey conducted by Coface Romania on the evolution of insolvencies in Romania in H1 2019, points out a 33% decrease in the number of insolvent companies during this period, in the context of a real and sustainable economic growth of 5.1%. However, the macroeconomic evolution is not sustainable due to many imbalances: the growth of the fiscal deficit by 81% during the first half of this year compared to the same period of the previous year, the highest annual inflation in the EU of 4.1%, the increase of the trade deficit and depreciation of the national currency. Moreover, Coface’s analysis shows that the decline of insolvencies is offset by the increase of the number of radiated companies, the payment delays increase significantly and the large companies are facing a challenging economic environment.Read More
US/China trade war, struggling automotive sector, slower growth in emerging economies... the second quarter of 2019 highlights a global economic slowdown
The decline in world trade is confirmed for this first half of the year and even if a slight recovery is expected in the second half of the year, it should suffer a 0.7% loss in volume over the year according to the Coface barometer. World economic growth is expected to decrease from 3.1% in 2018 to 2.7% in 2019 and then remain stable in 2020. In this context, Coface expects that a majority of countries should see an increase in corporate insolvencies this year.
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.Read More
The natural gas market is booming and will increase in the medium term, but many factors point to a less promising future.
Until recently, natural gas was acclaimed as the "cleanest" of fossil fuels and all indicators point to an increase in demand and production.
Coface's fourth survey on payment terms in Morocco shows a situation that remains worrying despite a slight improvement.
Coface presents its fourth survey on the payment behavior of companies in Morocco. Carried out at the beginning of 2019, this survey aims to monitor the evolution of payment terms and delays between the various Moroccan economic actors.
Positive revenue trend and an increase of 17% in 2017 compared to the previous year for wholesale of wood, construction materials and sanitary equip...
Positive revenue trend and an increase of 17% in 2017 compared to the previous year for wholesale of wood, construction materials and sanitary equipment
• 17% increase in consolidated revenues in the sector;
• The money conversion cycle became positive in 2017, 3 days, from -1 day in 2016;
• Decrease in the period of receivables collection from 64 to 60 days.
• More than one third of companies (43%) registered a decrease in revenues;
• Almost a third of the companies operating in this sector do not obtain profit from their core business;
• Among companies with turnover > EUR 1 Million, 2018 was a maximum in terms of the number of incidents recorded and the number of companies for which they were registered.
China coordinated its approach to 5G and some successes are already visible. However, China still relies on imports, especially for high-end products, leaving the sector exposed to protectionist threats. Moreover, the deployment of 5G networks by Chinese companies is perceived as a cybersecurity risk by many recipient countries. The US is banning Huawei equipment and pressing its allies to do the same, which could limit the growth of Chinese 5G in the future.Read More
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.
Road freight transport sector: 61% of the companies in this sector exposed to a medium to high and high risk of insolvency
• Consolidated sector revenues increased by 14%
• Over a third of the companies (40%) made investments in 2017
• Profitability ratios have remained at the same level as last year
• Over half of the companies in the sector are exposed to an insolvency risk above average
• The car fleet is obsolete, with 75% of the registered vehicles in use at the end of the year being older than 10 years, in line with the modest evolution of the infrastructure
• Over one third of the companies (43%) reported a decrease in revenues
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.Read More
Coface anticipates a 3% increase in insolvencies in Western Europe and 4% in Central and Eastern Europe
• Signs of a slowing global economy continue to accumulate
• 2019 - the number of insolvencies will increase in two-thirds of countries (+3% in Western Europe)
• The chemical industry in Europe and North America is suffering from fewer opportunities in the automotive sector
• Improvements in assessments are concentrated in the Middle East, including Saudi Arabia's upgrade (B)
Coface strengthens its market position in the Adriatic region by acquiring SID - PKZ, the leading credit insurance company in Slovenia
Coface announces today the acquisition of SID - PKZ, the market leader in credit insurance in Slovenia with a high market share. As Coface has acquired all SID - PKZ shares, the business will operate under the new brand name Coface PKZ. The acquisition supports Coface’s strategy of profitable growth in Central & Eastern Europe region.Read More
Local companies set to benefit from Coface’s expertise in risk prevention and payment protection.
In line with its strategic ambition to grow in promising new markets, Coface is launching its credit insurance offer in Greece. Coface is now able to strengthen its support to Greek businesses, by providing them with its recognised expertise in monitoring the credit-worthiness of millions of companies all over the world, and by protecting their commercial transactions.