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Corporate insolvencies in France: fewer in number, larger in size

Corporate insolvencies fell by 3.3% in France during the first ten months of the year. After a difficult first quarter, due in particular to the repercussions of the “yellow vest” movement, they have been steadily declining since May 2019. As a result, the number of corporate insolvencies is expected to decline over the full year, for the fourth consecutive time. However, Coface expects a slight rebound of insolvencies in 2020 (+0.9%), for around 52,000 proceedings, mainly due to the expected slowdown in the construction sector that was largely driven by public works in 2019.

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Global economy in 2020: general slowdown despite the action of central banks

As usual, many political events marked the summer: another episode of the Argentine exchange rate crisis, an unexpected change of government in Italy, major demonstrations in Hong Kong and Russia, an ever more challenging continuation of the “Brexit” process and an attack on oil installations in Saudi Arabia.

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Global outlook for the agri-food sector within a protectionist environment

The agri-food sector (alongside the ICT sector), has been at the heart of the global trade war, aggravated by the fact that China’s retaliation measures have often targeted US soybean imports. As a consequence, the US agri-food sector, notably American soybean exporters are negatively impacted by this situation.

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Germany Payment Survey 2019: Turn of the tide

This is the third edition of Coface’s survey on payment experience in Germany, done this summer, with 442 participating companies located in Germany. Our survey highlights that Germany is in a changing phase. The pressure on companies due to international competition is getting stronger. This is one of the reasons why German companies have increased their average credit period from 29.8 days to 35.9 days between 2017 and 2019.

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Country risk assessment map - october 2019

New edition of the country risk map. Consult, download and print the map of the 161 countries assessed by Coface.

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Sector risk assessment map - october 2019

13 major sectors assessed worldwide. Coface assessments are based on 70 years of Coface expertise and on the financial data published by listed companies from 6 geographical sectors. 5 financial indicators are taken into account: turnover, profitability, the net debt ratio, cashflow, and claims observed by our risk managers.

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The “Made in Russia” strategy: a limited instrument for economic diversification

Thanks to the efforts of the authorities, the diversification of the Russian economy is progressing, particularly in certain sectors such as information technology, pharmaceuticals, the automotive industry and the agrifood sector. In the latter case, the process was encouraged by Russian counter-sanctions adopted as a response to Western sanctions.

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Netherlands: What is the secret of Dutch trade?

In 2018, the Netherlands were the sixth-largest goods exporter in the world. In the service-exports category, the Dutch placed eighth in 2015. Considering exports relative to GDP, the Netherlands took third place in 2015 (right behind Ireland and Switzerland). However, times have changed...

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CEE insolvencies: so far, so good despite an increasingly challenging global economic environment

The Central and Eastern European region has experienced unparalleled growth in the European Union. However, a slowdown is expected in the coming years.

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Coface CEE TOP 500 Companies - 2019 Edition

Analyses show that the favourable economic environment was beneficial for the region’s 500 largest businesses, which translated into higher revenues. However, various challenges caused net profits to decrease. Competition is getting more intense and a higher turnover is required to be classified in the ranking compared to previous years.

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GCC: tight financial conditions for businesses feed alternative sources of financing

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 average.

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Asia-Pacific Corporate Payment Survey 2019: deteriorating payment trends amid trade war woes

Trade wars, volatile global capital flows, slowing growth in the United States (U.S.) and Europe, Brexit — businesses in the Asia-Pacific (APAC) region had to navigate a number of political, economic, and financial pitfalls last year. To better understand the impact that such events have on companies, Coface conducts annual corporate payment surveys across the world. The 2019 Asia-Pacific Corporate Payment Survey covers nine economies in the APAC region. For the survey, data was collected from over 3,000 companies during the fourth quarter of 2018.

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Political risks in Africa: the temperature is rising

Africa has seen a bevy of political events in recent months. After the deterioration of the security situation in the Sahel, as well as the forced departures of historical leaders from Algeria and Sudan via the streets, where will the political risks manifest in the second half of the year?

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Sector risk assessments - July 2019

13 major sectors assessed worldwide. Coface assessments are based on 70 years of Coface expertise and on the financial data published by listed companies from 6 geographical sectors. 5 financial indicators are taken into account: turnover, profitability, the net debt ratio, cashflow, and claims observed by our risk managers.

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Country risk assessment map - July 2019

New edition of the country risk map. Consult, download and print the map of the 161 countries assessed by Coface.

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Trade tensions return to the forefront of the global economy - Country and Sectors risks Barometer

The first part of 2019 was marked by the decline in world trade, which will decrease in volume over the year as a whole according to our forecasts (-0.7%), despite a slight recovery expected in the second half of 2019.

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An unsure future for natural gas: How risks could derail the current boom

The energy industry is quickly evolving: as renewable energy sources increase in popularity compared to fossil fuels, their costs are plummeting. New forms of electricity conservation have recently become the focal point of widespread international attention, resulting in heavy investment and research. Furthermore, natural gas is increasingly losing its reputation as a cleaner energy source in the battle against climate change, as it pollutes more than renewable alternatives.

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Corporate insolvencies in France: micro-entreprises in the wave’s trough

During the first four months of 2019, the rate of corporate insolvencies in France increased by +0.8%. This rate was particularly high during January and February, mainly due to the repercussions of the "gilets jaunes" (yellow vests) movement; however, the increasing rate of insolvencies declined in March and April. Nonetheless, Coface anticipates that, despite resilient economic growth, insolvencies will increase by +1.7% over the whole of 2019 (…)

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From copycat to early bird: Taking stock of China’s 5G ambitions

China has rapidly become a big player in 5G technology, thanks to the government’s strategy and its support of high investment in Research and Development (R&D). This new technology is part of the Made in China 2025 initiative, through which the Chinese government targets self-sufficiency in high-end industries. China coordinated its approach to 5G and some successes are already visible. For example, 40% of global patents for current 5G network standards are from Chinese firms. Moreover, Chinese companies are set to benefit from 5G. Huawei is the global leader in network infrastructures; it currently holds 29% of the market (...)

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Central Asia: is the ménage à trois with China and Russia sustainable?

Central Asia is both a partner and a trade gateway for China and Europe. It is located on two branches of the New Silk Road. Despite criticism, China is the most involved in the development of Central Asian corridors. This deployment is not obvious given the competition from other routes and poor regional cooperation. While Russian influence remains significant through expatriate remittances, its military bases, and culture, it is being supplanted by China in economic matters.

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