Panorama Risk Sector: Chemicals Industry in Romania
NATIONALLY, THIS INDUSTRY INDICATES AN UPWARD TREND, BUT ALSO WARNS US ON SOME POTENTIAL RISKS
Choosing the chemicals industry as our first subject of this new type of studies is not accidental, because it is one of the largest and most dynamic industries in the world, with a total volume of sales of 2,744 BEUR in 2011, with an increase of 11.6% over the previous year, confirming its position as one of the main engines of economic recovery.
In Romania, this sector is not just one with great tradition and impact on the national economy, but also one with a special economic evolution of the last few years. According to the latest financial statements published by the Ministry of Finance at the end of 2011, in the chemicals industry 4,598 companies were considered active, which generated a total turnover of 47.4 BEUR and 89,696 jobs.
THE PAYMENT DISCIPLINE OF THE CHEMICALS COMPANIES CAN REGISTER DEFICITS
The sector-wide assessment of the payment behavior is an essential component of the chemicals sector’s financial situation, especially in the current context of overall deteriorated payment discipline due to its persistent liquidity constraints of the companies as a result of the tightening credit conditions offered by the banks and a high level of due date regarding companies’ debt collection.
In order to estimate the payment behavior of the companies in the chemicals industry covered by this study, Coface Romania has followed two main directions:
- Situation of registered overdue debts to the state budget
- Checking payment incidents with debt tools registered within CIP
For further information regarding the Romanian Chemicals Industry, we invite you to browse the entire study.
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