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29.06.2018
Publikationen zur Wirtschaft

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22.01.2018
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Country risk assessment map - January 2018

160 countries under the magnifying glass. Coface assesses the average credit risk of companies in 160 countries.

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17.12.2017
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Turkey: Impressive growth but increasing vulnerability to external factors

Turkey’s economy grew substantially during the first three quarters of 2017, surging by 7.4% compared to a year earlier (...)

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12.12.2017
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France: will the organic agrofood sector be forced to abandon its principles?

The agrofood industry is facing a number of challenges in Europe1, including the central issue of how to share created value.

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11.12.2017
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Infographics - French organic food sector: how can it increase scale without abandoning its original principles?

Strength of organic companies and consumption growing faster than supply

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27.11.2017
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Germany’s corporate payment survey: a better year, particularly for exporters

Coface carried out its second payment survey for Germany this year, making it possible to compare results between the two surveys (...)

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24.11.2017
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Poland insolvencies Focus: Are restructuring proceedings the remedy?

Business proceedings aimed at insolvencies and restructuring have been on rise in Poland this year.

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20.11.2017
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The UK automotive sector and Brexit – or, how to slow a rolling industry?

The UK automotive industry is entering a dry period. The voices of the main UK industry representatives and their concerns regarding the negative effects of a potential hard Brexit appear to remain unheard (...)

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08.11.2017
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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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07.11.2017
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Infographics - New chinese ambitions in Sub-saharan Africa

Infographics - New Chinese ambitions in Sub-saharan Africa

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07.11.2017
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China-Africa: Will the marriage of convenience last?

Falling in love is easier than staying in love: a tale of unbalanced exchanges and increasing dependency.

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18.10.2017
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Argentina legislative elections: is the continuity of the pro-business direction at stake?

Since Mauricio Macri took office in mid-December 2015, the economy has started to recover

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05.10.2017
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Country risk assessment map 3rd quarter 2017

Each quarter Coface evaluates 160 countries with a unique methodology.

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27.09.2017
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Are bond markets the new “spare tyre” for corporates in emerging economies?

If the year 2017 is synonymous with a slight economic upturn in the emerging markets, let’s not forget the previous three years were marked by increased corporate risk

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27.09.2017
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Morocco: Drawing out of Payment periods, a perplexing trend ?

While more than 30% of respondents said in 2015 that that the time between the transmission of invoice and collection was between 30 and 60 days, this share decreased to 24% of respondents in 2016 and 11% of respondents in 2017.

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26.09.2017
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Infographics - Sector risk assessments - 3rd Quarter 2017

12 Major sectors assessed worldwide, each quarter, by Coface.

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26.09.2017
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Country and sector risk Barometer Q3 2017 - Global growth recovery: a real or a false start?

For once, the summer proved to be particularly quiet. No major events disrupted the path taken by the world economy.

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08.09.2017
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Time to address the infrastructure gap in Latin America

During the commodity super-cycle that lasted over a decade, until around 2014, Latin American economies showed robust performance.

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07.09.2017
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Central and Eastern Europe: Less business insolvencies despite temporary headwinds in the construction sector

Despite some slowdown last year, average GDP growth remained at a solid level of 2.9% in Central and Eastern Europe [...]

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07.09.2017
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Coface CEE TOP 500 ranking

Coface CEE Top 500 Ranking

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31.07.2017
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Latin America: The winners and losers of “Trumponomics”

Political changes in the US have caused uncertainty over the trade policies that could be implemented and the region’s vulnerability to tighter financial conditions. Since Donald Trump’s victory, the currencies of many emerging countries have fallen against the dollar. Mexico’s currency was the most greatly affected in the world, with 19 % depreciation against the USD in 2016

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19.07.2017
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Tough funding conditions for GCC corporates: the hidden effect of lower oil prices

Oil prices declined by around 75% between mid- 2014 and January 2016 (...)

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11.07.2017
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Asia Corporate Payment Survey 2016: tail risks are on the rise

Coface conducts an annual survey to examine corporate payment trends and experiences in eight selected economies in the (...)

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05.07.2017
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Country risk assessment map 2nd quarter 2017

160 countries under the magnifying glass

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04.07.2017
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A gust of optimism is blowing over the world economy

At the end of the first quarter of 2017, we were wondering whether the timid global economic recovery was a flash in the pan (...)

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08.06.2017
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In the Face of Brexit, are British Businesses Left to Sink or Swim?

One year after the “yes” vote for Brexit, seen as traumatic, the time has come for the United Kingdom to accelerate the implementation of its exit from the European Union (EU).

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24.05.2017
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Russia – from recession to recovery, but to what extent and how fast?

Between 1999 and 2008, Russia’s GDP grew by an average of almost 7% per year. In 2009, the fall in oil prices led to a severe recession (-7.8%).

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22.05.2017
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UAE payments survey : slight payment delays expected, due to slower growth

Through the initiative of Coface, a world leader in trade credit management and risk information services, a credit opinion survey across the UAE was rolled out in order to map out major shifts and prevailing trends in company payments.

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02.05.2017
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Labour shortages in Central and Eastern Europe countries: a growing concern for businesses

Labour markets in the Central and Eastern Europe (CEE) region are continuing to improve.
Unemployment rates have reached the lowest levels ever recorded and most CEE economies are enjoying lower unemployment than the EU average

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21.04.2017
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Insolvencies in the Construction Industry in France: Interest Rates Are Key

With an average increase in corporate insolvencies of 4.2% per year, 137,520 companies went bankrupt between 2008 and 2014

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30.03.2017
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China corporate payment survey: the devil is in the detail

In 2016, credit extension practices in China differed from those seen in previous years. Fewer Chinese companies offered credit sales – but (...)

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21.03.2017
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Recovery in global growth: more than a flash in the pan?

Signs of a recovery in global growth are multiplying at the start of 2017.

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21.03.2017
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Country risk assessment map - 1st quarter 2017

160 countries under the magnifying glass

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20.03.2017
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The rise and rise of political risks

Political risk seems to have been at the core of concerns since 2016, following numbers of articles and editorials on the topic (...)

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13.03.2017
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Business insolvencies in France: new year starts where the old year left off

January 2017 saw the drop in insolvencies, which started in May 2014, reach 58,031 - its lowest figure since September 2012 (-2.8% on the same period in 2016)

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03.02.2017
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Panorama : Coface Brazil corporate payment survey

Brazilian companies are currently faced with a challenging environment. GDP underwent an accumulated contraction of 7.4% during the two years of 2015-2016.

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24.01.2017
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Country risk assessment map - January 2017 - 4th quarter 2016

Despite the recent economic upturn, uncertainties will continue to dominate the global economic climate this year.

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24.01.2017
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Panorama : An economic upturn in the face of uncertainty

Starting with falling oil prices and financial markets in the winter, the Brexit referendum in the summer and the election of Donald Trump in the autumn, 2016 was punctuated by a series of upsets.

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11.01.2017
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Panorama 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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20.12.2016
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Still tough times for South Africa?

South Africa’s growth performance has been in decline since the global financial crisis. Since peaking in 2011, the growth rate (hit by lower commodity prices and power supply problems) has continued to slow.

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19.12.2016
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Turkey: end of the tulip period?

Turkey’s economy experienced several shocks during 2015 and 2016. Heightened political uncertainties, regional tensions, the US rate hike process, the credit rating downgrade and domestic security issues, have all resulted in (...)

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16.12.2016
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Uberisation of the economy in France: a new weapon of mass creative destruction?

Why is the collaborative economy so captivating in France? First of all, because it is synonymous with youth and innovation. But also because sectors that (...)

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13.12.2016
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Company insolvencies in France: a further fall in 2017

The number of insolvencies in France continued to fall in the twelve months to end-October 2016 (-1.0%) (...)

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30.11.2016
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German Economy in 2017: Stable, but Not Staid

The signs for Germany’s further economic development are promising, with a high level of stability.

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25.11.2016
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Infographics - Sector risk assessments - 4th Quarter 2016

12 major sectors assessed worldwide

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25.11.2016
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Barometer of sector risks in the world - 4th Quarter 2016

For this quarter, the result is clearly negative once again, as eight sectors have been downgraded and only one upgraded. The changes concern North America (increased risks in the retail, textile-clothing, paper-wood and transport sectors), Western Europe (downgrade of the agrofood sector) and Central Europe (downgrades for construction and IT & communications, but an upgrade for the transport sector) and Middle East (downgrade for IT & communications).

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08.11.2016
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Abenomics: The first arrow has silent impact on Japan’s exports and the yen, why?

Despite the silent impact of the first arrow on Japan’s exports, the operating profits of Japanese manufacturers which have been mainly exported oriented surged, in part due to their pricing-to-market behaviour.

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07.11.2016
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Mexico’s economy: more difficult times ahead

Mexico’s economy has been increasing above the Latin American average since 2012. While the region contracted by 0.5 % in 2015, Mexico, its second largest economy, grew by 2.5 %.

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17.10.2016
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European economies: Will political risk spoil the party in 2017?

The UK referendum in June, parliamentary elections in, Spain in December 2015 and June 2016...

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14.10.2016
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Country Risk Barometer Q3 2016

Concern again focused on oil prices,the emerging market thermometer

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13.10.2016
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Country risk assessment map • 3rd quarter 2016

160 countries under the magnifying glass

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23.09.2016
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Latin america: why are Manufacturing exports still Lackluster?

Up until 2014, Latin America’s exports were boosted by China’s vast appetite for raw materials and the hike in their international prices.

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20.09.2016
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Morocco: The economy is slowing down; payment periods are getting longer

s a follow-up to the survey on Moroccan companies' payment periods published in May 2015, Coface here presents the results of the second edition.

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16.09.2016
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Panorama Poland : Insolvencies fall amid fair economic growth

Poland has seen a slowing of its economy this year, compared to 2015. Nevertheless, growth is still continuing at a fair rate and, in fact, remains at a level which many other economies can only dream of.

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14.09.2016
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Panorama France : Growth Takes a Time-Out

French growth has taken a time-out in Q2. The political uncertainties in the United Kingdom, the strikes in May and the floods affecting Ile-deFrance are all likely suspects responsible for this surprise halt. However, the figures are expected to recover in Q3.

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09.09.2016
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Agrofood in North Africa: a strategic sector at nature’s mercy

The importance of the Agrobusiness sector varies between the different North African economies. While on a regional level, the sector leads exports, on a country basis it differs. In Morroco, agribusiness benefits from government subsidies, as it contributes nearly 16% of GDP and provides employment for 40% of the population. Overall, across the main north African countries, the lowest level of risk is in Morocco...

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31.08.2016
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US pharmaceuticals have enjoyed their time in the sun, but is it time to get out the umbrellas?

Despite having the highest healthcare expenditure of all industrialised nations (17.1% of GDP in 2013), the US public health outcomes are being outperformed by other advanced nations.

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26.08.2016
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Germany corporate payment survey 2016: so far, so good, but the devil is in the details

2016 marks the first time Coface has carried out a payment survey for Germany. This follows on from other surveys presented this year for (...)

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09.08.2016
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China’s two-speed economy: Sector winners and losers

In the light of the on-going structural reforms, the "tale of two Chinas" is resulting in sector wise winners and losers, linked to their growth potential in the medium and longer term, government policies and structural demand.

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02.08.2016
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United Arab Emirates: a new era of slower growth 

The United Arab Emirates (UAE)’ economy is of the most diversified within the Gulf region

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18.07.2016
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Barometer of sector risks in the world - July 2016

Coface updates its risks outlook for 12 business sectors in 6 regions every quarter.

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18.07.2016
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Sub-Saharan Africa: hit but not sinking

Sluggish global growth, characterised in particular by China's loss of momentum, shock to commodity prices… Sub-Saharan Africa has not been spared in the global tempest and seeks to maintain growth against wind and tide. The commodity producers are the most affected.

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13.07.2016
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Insolvencies in Central and Eastern Europe

Companies in the Central and Eastern Europe region reported solid economic growth rates as well as more structured growth last year.

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30.06.2016
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Country Risk Barometer Q2 2016 - China and the United States, two giants with feet of clay

The global economy remains stuck in a "Japanese-style" trap of sluggish growth, despite ever more expansionary monetary policies

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29.06.2016
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Country Risk Assessment Map - 2nd Quarter 2016

Coface helps you to assess business risks in 160 countries - Download our worldwide country risk assessment map.

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17.06.2016
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Business insolvencies in northern europe: slower decrease in 2016

Bankruptcies drastically decreased in almost all countries in the region during the course of last year - especially in the four Northern Europe Region (NER) countries we focus on in this panorama, namely Germany, the Netherlands, Sweden and Denmark.

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31.05.2016
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Asia Corporate payment survey

Coface conducts an annual survey to examine corporate payment trends and experiences in 8 selected economies in the Asia Pacific region.

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26.05.2016
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2015 Activity report

Whatever their size, nationality or sector, we inform our customers about current market issues to assist them in controlling their financial risks. To do so, we provide our international business expertise, country and sector risk assessments, accurate data on 80 million companies worldwide and a range of scalable, innovative products that suit their needs and business strategy.

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25.05.2016
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Company insolvencies in France: Is the recovery finally under way?

Is the recovery finally under way? That is the question being asked after a start to 2016 marked by a series of positive indicators for the French economy. But after several false starts (..)

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17.05.2016
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Brazil: A country in deep recession looks tentatively towards the first steps of the new government

The current recession and the Carwash1 corruption scandal have impacted the first of these variables, while the second has reacted to rising unemployment, negative growth in real wages and deteriorating credit conditions. The government has also failed to contain the dangerous course of its expenses and a second year of primary fiscal deficit was reported in 2015– a clear sign of lack of fiscal discipline.

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09.05.2016
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Overview of Hungary : Corporates on the starting block for sustainable growth?

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

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15.04.2016
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Registration document 2015

Registration document 2015 including the annual financial report

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14.04.2016
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Corporate Social Responsibility

Coface’s environnemental, social and governance action plan

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13.04.2016
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Steel sector: produce at all costs?

Steel producers’ solvency weaker than ever. There is no improvement in sight before 2018.

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24.03.2016
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Companies in emerging countries: Can we once again believe in the Phoenix miracle?

Halved growth between 2010 and 2015, sharply increasing debt, increased exposure to currency risk, growing scarcity and increased cost of credit, falling export revenues (...)

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24.03.2016
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Country Risk Barometer Q1 2016

Sluggish growth, absence of inflationary pressures, ever more expansionary monetary policies and increased volatility in financial markets; these are four elements characterising the global economy in early 2016 (...)

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17.03.2016
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China Corporate payment survey

Since 2003, Coface has been conducting annual surveys on business payment experience in China. In 2015, the average credit termes offered by China-based firms decreased again, reflecting a more prudent approach to granting credit facilities to customers. the overall payment experience in China deteriorated and remained very challenging in 2015.

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16.03.2016
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Iran: sharp turn ahead, drive carefully

After five years of sanctions, Iran is finally to rejoin the global community. The return of Iran should have an effect on international growth via the oil channel but, above all, will bring huge changes to Iran itself.

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02.03.2016
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The German economy: safe inside, riskier outside

The German economy has changed its growth model during recent years. While internal demand (especially private consumption) – was sluggish and weak throughout most of the 2000s, it is currently the (...)

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17.02.2016
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Company insolvencies in France: Heading towards a third consecutive year of decline

In France, the number of company insolvencies fell for the second consecutive year in 2015, (-2.1%)

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16.02.2016
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China´s role in Latin America is much more than a trade issue

During the China-Celac Forum, held at the beginning of last year, China announced its intention to increase its investment stock in Latin America to (...)

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26.01.2016
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Country Risk Barometer Key challenges of 2016

After US households in 2007-2008 and Eurozone states in 2011-2012, emerging countries are now getting their turn at the epicentre of the storm, in part because of excessive debt. How did that happen? Growth cut in half in the emerging world between 2010 and 2015, highly expansionary monetary policies after the Lehman Brothers crisis, and the drop in commodity prices since mid-2014 are all part of the answer.

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22.12.2015
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Panorama - Lower Lira and Higher Debt: A Bad Mix for Turkish Business

During 2015, Turkey’s economy faced several challenges. On the political scene, the country went through two elections in 2015, bring to four the number of elections over the last two years. After talks to form a coalition government fell through following the June 7 general election, the country returned to the polls on November 1.

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14.12.2015
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Poland Retail Sector – Household spending is supporting the economy but challenges remain

Retail trade benefits from good prospects of consumer demand which, however, will not eliminate challenges for the sector including an intense competition and the implementation of new levy for retailers. Foreign chains will remain dominant taking an advantage of their large-scale bargaining position and offering the most attractive prices for consumers even despite being charged by the new tax.

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09.12.2015
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Barometer sector risks in the world - December 2015

In a context of low worldwide growth, sectoral dynamics are mixed

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08.12.2015
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In front of the globalisation of the wine market, Europe bends but does not break

European wine consumption has fallen over these past years, like that of France, which is a third of what it was 50 years ago.

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24.11.2015
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France overview third quarter 2015

Tenuous but confirmed. These are the terms that best describe France’s current growth - as illustrated by the figures for the third quarter, published in early November. Household consumption has (...)

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16.11.2015
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Egypt: slow recovery, structural challenges

Coface estimates that growth will increase to 4.4% for 2015/2016.

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03.11.2015
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Brazil: No Quick Fix for the Crisis

Brazil has grown over the last decade, as a result of the boom in commodity prices and strong household consumption. The country endured the 2008-2009 crisis, thanks to liquidity injections from public banks.

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19.10.2015
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Poland – solid economic growth results in a sustainable decrease of company insolvencies

The increased economic activity in Poland already reached levels required to stabilise the number of company insolvencies. The current global economic situation could be summarised as a gradual recovery for advanced economies and turbulent times for emerging countries.

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15.10.2015
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Barometer sector risks in the world - October 2015

In a context of low growth, the global sectoral dynamics are mixed. In this overview we analyse five major sectors: automotive, energy, metals, information and communication technologies (ICT) and paper-wood, in North America, emerging Asia and in Western Europe.

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14.10.2015
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A brighter picture for European photovoltaic energy?

European photovoltaic (PV) energy developed rapidly starting in 2010, thanks to national and European subsidies promoting its establishment in the energy landscape. But the increase in production capacity rapidly pushed down prices in a context of increased competition from China and a downturn in European business conditions.

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18.09.2015
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Country Risk Barometer Q3 2015

For the fourth consecutive year, global growth will fail to exceed 3%. At the beginning of the year however, this target did not appear unattainable.

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18.09.2015
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Asia challenged by China’s slowdown

The Chinese economy has been in the spotlight for several months: devaluation of the yuan, stock market collapse, falling property prices, fears of an excessive economic slowdown, doubts about the reliability of published data and, more generallyspeaking, uncertainties about the rebalancing process the authorities have launched. In this anxiety-provoking environment, other Asian countries seem to be the first potential victims in the event of a hard landing for the Chinese economy.

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16.09.2015
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Gulf countries: various reactions to the same shock

What are the impacts of lower oil prices on the gulf countries economy. Focus on Saudi Arabia, the UAE and Bahrain. What are the diversification strategies and the region’s integration with international trade. Focuses on the food and beverage sector in the UAE and automotive sector in Saudi Arabia.

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14.09.2015
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Ranking Coface CEE top 500 companies

Coface’s seventh annual study on the biggest 500 companies in Central and Eastern Europe ranks the businesses by their turnover and additionally analyses data such as number of employees, the framework of the companies, sectors and markets. In 2014, the CEE Top 500 companies generated a turnover of EUR 572 billion, which exceeds even half of the aggregated 2014 nominal GDP of those economies. The biggest companies were able to increase their turnover as well as workforce.

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09.09.2015
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Latin America - Activity in the region still decelerating

Growth in Latin America has been slowing down since 2011, and was estimated at 1.2 % in 2014 . This lacklustre result, caused by weak domestic fundamentals, were exacerbated by cyclical factors such as the decline of commodity prices - and particularly the plunge in oil prices experienced since the second half of 2014. 2015 will see the continuation of this downwards trend, with regional growth expected to weaken for the fifth year in a row.

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08.09.2015
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Company insolvencies in Western Europe: slight lull being confirmed for 2015

In this first overview of company insolvencies in Europe, Coface examines the following question: Was the return to growth observed in Europe strong enough to bring about a lasting reduction in business failures?

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22.07.2015
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Automotive Sector Central Europe

The automotive sector plays an important role in the CEE’s economic activity. Thanks to low labour costs, the educated workforce, geographical proximity to Western European markets, tax incentives and the stabilising legal environment, CEE countries have become attractive destinations for investment by global car manufacturers.

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09.07.2015
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2014 Activity report

Registration document 2014 including the Financial report

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19.06.2015
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Global Country Risk Outlook June 2015

In this panorama, we first set out a study examining the economic situation and outlook for Sub-Saharan Africa.

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04.06.2015
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Turkey : Challenges amid global changes

After a decade of well-imple­mented reforms and high growth rates, the Turkish economy seems to be struggling to maintain the same growth performance. Coface expects a growth rate of 3.5% this year - still a solid rate, yet below the po­tential growth rate estimated at 5% and lower than some of the country’s peers.

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01.06.2015
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Central and Eastern Europe: Company Insolvencies barometer June 2015

Company insolvencies stabilized with a just minor drop by 0.5% as the regional average. Our scenario assumes that companies should experience further gradual decline of insolvencies this year facing good prospects for internal demand and more visible recovery of Eurozone as the CEE’s main trading partner.

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26.05.2015
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France: Insolvencies barometer April 2015

This barometer sets out the latest trends for company insolvencies for the first four months of 2015 in France. After a 2.9% fall recorded for 2014, a level not observed since 2010 (-3.8%), the first four months of the year were marked by a rebound in insolvencies

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26.05.2015
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End of european milk quotas: a new era for the french dairy sector

Since the introduction of milk quotas in 1984, until their effective ending in 2015, milk production has undergone many reforms.

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11.05.2015
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Morocco: the challenge of becoming an emerging economy

Moroccan economy stayed resilient during the last world economic crisis and was able to avoid Arab springs. In an increasingly unstable international environment, Morocco remains stable.

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11.05.2015
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Morocco: credit opinion survey

Overview of payment practices in Morocco and economic prospects for businesses

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29.04.2015
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Panorama: What we see in the Asia Pacific region

Coface conducts an annual survey to examine corporate payment trends and experiences in the Asia-Pacific region. In 2014, the survey was conducted in 8 economies – Australia, China, Hong Kong, India, Japan, Singapore and Taiwan, as well as, for the first time, Thailand. The study revealed some key indicators that showed signs of a (...)

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15.04.2015
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Panorama - The US Automotive Sector: A Risky Recovery?

The automotive industry in the United States, the"backbone of American industry" according to Barack Obama, was on the verge of bankruptcy at the time of the financial crisis, with a drop in sales of 35% between 2007 and 2009.

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15.04.2015
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Barometer Sector Risks In The World

The changes in our sector assessments reflect the development of the world economy since the end of 2014, marked by the appreciation of the dollar against other currencies, the oil price collapse and gradual recovery in the Eurozone. These trends have had repercussions on most of the sectors we track.

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13.04.2015
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The Mexican Economy Faces Headwinds

Since the signature of the Pacto por Mexico in December 2012, an agreement struck by the three main political parties, the country has witnessed a variety of reforms. President Peña Nieto was efficient in securing cross-party support and big improvements, were made in 2013.

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26.03.2015
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Panorama Global Country Risk Outlook

In this panorama we first set out a study examining how the advanced economies are facing up to the challenge of weak economic growth since the Lehman Brothers collapse, that is for the past seven years now! Some observers are even talking of "secular stagnation". But, in our view, not all the advanced economies are facing the same challenges regarding this risk of longterm stagnation. We believe that (...)

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23.03.2015
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Panorama Overview of Czech Republic

The Czech Republic is back on fast track. After falling into recession in 2012 and 2013 due to sharp fiscal consolidation and sovereign debt crisis in the Eurozone, the economy regained momentum reaching solid growth rate of 2.0% in 2014 and should gain speed with 2.5% growth in 2015.

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16.03.2015
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Company insolvency trends in Brazil

Ongoing economic scenario in Brazil remains sensitive, Coface expects GDP to break even in 2014 and activity should contract by 0.5% in 2015. Industry dropped by 3.2% in 2014 and will probably record another negative year in 2015. The year has just started, but it may reserve some negative surprises.

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05.03.2015
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Panorama China Payment Survey

Coface conducts an annual survey of payment experience in China. With 80% of the survey respond-ents shared overdue experience and 56.7% of them saw an increase in overdue amount over the past year, the overall payment experience in China remained very challenging in 2014.

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04.03.2015
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Panorama Latin America

Latin America is a major producer of commodities and recent drop in oil prices is impacting countries of the region in different ways. Some of them may benefit from lower international quotation, others are negatively impacted already in the short term and finally a third group could be affected in the medium term only (...)

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26.02.2015
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France, a favourable country for the development of start-ups?

Development of start-ups: what are the keys to success?

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25.02.2015
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France: Insolvencies barometer February 2015

This barometer presents the new trend in business insolvencies. We are reviewing the results for 2014 and the first orientations for 2015 with insolvencies for January. After two consecutive years of growth, the number of insolvencies over 2014 had decreased by 2.9%.

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21.01.2015
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Panorama Poland construction sector

The construction sector in Poland has undergone turbulent times. After the booming period related to increased demand for housing construction as well as massive public investments thanks to organizing the Euro 2012 football championship, the sector experienced a significant deterioration

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19.01.2015
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Panorama Turkey: Insolvencies

Company insolvencies in Turkey: Rise in exchange rates and slowdown in domestic demand affected payment performance. Impaired profitability made payments difficult. Focus on some sector risks : Metal, Automotive, Food, Chemical, Construction, Retail, Textile & apparel.

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19.01.2015
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Middle East and North Africa Panorama: What progress after the arab spring?

How do the Middle East and North Africa (MENA) economies perform after the social and political turmoil caused by the socalled “Arab Spring” late in 2010? Have social and economic demands of protesters resulted in a healthier economic outlook in these countries? The panorama will focus on hydrocarbon sector for the GCC countries and on the textile sector for the North Africa region. It will also assess the latest trends in construction, tourism and automotive sectors across the MENA region to evaluate possible corporate risks.

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14.01.2015
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Panorama LATAM : Growth picking up at countries of Pacific

Over the years Latam has begun to be associated with economic growth, new middle class, poverty reduction and controlled inflation.

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12.12.2014
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France: Insolvencies barometer December 2014

The number of insolvencies at the end of October stood at 63,002 companies, a figure down by - 0.9% over the last 12 months. This is the lowest level recorded since August 2013 (...)

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12.12.2014
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Panorama : Should we be afraid of “low-flation”?

The term "deflation" seems to be on everyone's lips in Europe these days, not just on those of economists. The buzz around the term is not surprising, as Eurozone inflation has been falling for the past three years. France is no exception (...)

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20.11.2014
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Panorama sector, European pharmaceutical companies: is austerity fatal?

This end of year panorama starts with the risk assessment of 14 sectors in the three regions we monitor.

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06.11.2014
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Panorama Poland insolvencies

Poland is a headline example of the country that didn’t record recession in recent years. However, in micro terms companies insolvencies have been on rise since 2008 and 883 bankruptcies in 2013 is even the highest result in 9 years history.

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24.10.2014
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Panorama Country Risk - World Trade: a Sluggish Spell?

Panorama Country Risk - World Trade: a Sluggish Spell?

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08.10.2014
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European airlines: forced to change

«European carriers have been hit by aggressive competition from Middle East and Asia and, they are among the least profitable in the world».

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29.09.2014
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Panorama United Arab Emirates : A remarkable recovery after the debt crisis but financing needs still high

How wealthy is the UAE economy after the debt crisis? Figures indicate that after contracting around 5 percent in 2009, the UAE economy recorded gradually solid growth rates. The economy is expected to grow by 5 percent in 2014, after expanding around 5.2 percent in 2013.

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06.06.2014
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Corporate Payment Trend and Sectorial Risk in Asia Pacific

From the hawk’s-eye view, Asia’s economic growth momentum remained strong in the post-crisis era, with Coface’s forecast pointing to a 6.1% YoY growth for Emerging Asia in 2014.

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28.05.2014
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Changes regarding SMEs in France and Spain

This panorama shows, through our barometer, new trends about insolvencies in France, considering the first four months of 2014.

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16.05.2014
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2013 Activity Report

The group’s 2013 activity report is available. Besides elements on 2013 performance, the report contains general information about Coface, missions, governance, businesses, offer and analysis of the world macroeconomic situation.

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02.04.2014
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Which emerging countries will take over from the BRICS?

While the 2008-2009 global crisis had highlighted emerging market resilience, game-changing events have taken place in those emerging countries since May 2013 indeed.

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06.02.2014
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Panorama China: What to expect in 2014

A broad spectrum of exciting reform plans have been announced, and the government had a series of follow-up actions. But in the near-term, potential negative impacts on the real economy as a result of the reform effort and credit risks associated with the rising cost of fund have to be watched out for.

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17.12.2013
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Textiles - Upmarket positioning and innovation: Key to the success for the French and European textile industry?

You will find in it our usual barometer, which assesses the risks to which companies in fourteen key industrial sectors in emerging Asia, North America and Western Europe are exposed.
We have also included an analytical focus on European textiles. This traditional industry was affected very early by globalisation, and, in particular, competition from developing countries.

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27.11.2013
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Insolvencies in the construction sector in France

In this Panorama, you will find the Coface barometer, which analyzes the evolution of French insolvent companies between November 2012 and October 2013.
We then publish a study on insolvencies in the French construction sector, overrepresented in insolvencies compared to it weight in the economy.

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13.10.2013
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Should we stake everything on the Asian consumer?

Panorama Country Risk - October 2013
This panorama contains a study on household consumption in Asia. In the face of the 2008-2009 global crisis, followed by the sovereign debt crisis in the eurozone in 2011, Asian household consumption has been a source of relative resilience for the region’s economies.

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26.09.2013
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Carmakers : Europe refocusing on emerging markets

This Panorama includes our global sector barometer, which analyses the situation in fourteen key economic sectors in three of the world‘s major regions (European Union, North America and Emerging Asia) through a single credit risk indicator.

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15.07.2013
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Brazil’s economy: Worrying weaknesses?

Ranked seventh in the world (and the second largest emerging economy) by GDP size, Brazil is the archetypal emerging country. But, the Brazilians’ legendary optimism has been sorely tested for the last two years: Can the Brazilian economic engine be repaired?

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11.07.2013
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2012 Activity report

Jean-Marc Pillu, CEO of Coface:
"In 2012, we combined further profitability and growth, while continuing to assist our customers".

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20.06.2013
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What has happened to the Italian business model?

Panorama Country Risk - June 2013
This panorama contains a study of the Italian economy, which analyses and interrogates both macro and microeconomic issues.

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04.06.2013
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Central European companies in crisis: why?

Panorama Company Insolvencies - Spring 2013
This new Panorama contains the results of our Company Insolvency Monitor from April 2012 to April 2013 and the results of a study on insolvencies among Eastern European countries, a region experiencing a sharp rise in insolvencies rate.

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18.04.2013
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Focus e-commerce / distribution

Coface releases a series of economic reports and is pleased to announce the publication of its second Panorama sector report. Readers will find in it a global sector barometer which analyses the situation in fourteen key economic sectors.

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20.03.2013
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Transformation of emerging country risk

Panorama Country Risk - March 2013
In this Panorama, Coface highlights the radical transformation of risks in emerging countries. While traditional country risk (sovereign risk, external vulnerability) has appreciably declined, three new risks are appearing and need to be monitored.

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07.02.2013
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2013 Coface Country Risk Conference

The 17th Country Risk Conference held by Coface on 22 January 2013 has confirmed the complexity of a situation where, more than ever, the world seems to be «split in two»: advanced versus emerging countries. If the declining power of the United States still appears very relative, it is facing serious problems concerning the reduction of its fiscal deficits.

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10.12.2012
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Switzerland: economy is bending

Investors have made it one of their favourite havens during this period of recurrent crises, from global finance to sovereign debt in the eurozone. Proverbial political stability, sound management of public finances, a complex but attractive tax system, many very innovative small businesses and a flexible labour market.

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03.12.2012
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Focus: The world’s steel

The "Panorama Sectors", a new quarterly publication of Coface, focuses on the sector risks in the world.

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18.10.2012
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United States: SMEs the backbone of the economy?

When public sector job creation runs out of steam, eyes turn to the private sector, which alone seems able to offer a solid basis for recovery in the months to come through investment and the hiring of workers.

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18.10.2012
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India: Economic slowdown

FOCUS INDIA - FALL 2012
Economic slowdown: Companies hampered by slow pace of reform.

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15.10.2012
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Updates and growth forecasts

Panorama Country Risk - Fall 2012
The global economic slowdown is confirmed this fall, in line with the recession in the eurozone and the emerging market deceleration.

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11.10.2012
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Why are there less companies insolvencies in Germany?

Panorama company insolvencies - Autumn 2012: Although the overall number of insolvencies continues to decline (-1.8% between September 2011 and August 2012), the summer of 2012 confirms the trend that began last Spring with an important growth in their cost (+17%) and a correlative increase in unemployment (+3.3%).

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