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Germany: More insolvencies in the pipeline

Coface's Northern Europe economist, Christiane von Berg, examines Germany's "hidden insolvencies" in our Focus.

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Country & Sector Risk Barometer: Q1 2021 Quarterly Update

The United States leads the race to global recovery, emerging markets lag behind.

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Coface report looks at China and Australia's trade relationship

The China-Australia bilateral relationship deteriorated sharply over 2020, with China imposing trade restrictions on a number of Australian exports. But there are growing concerns that an escalation of bilateral tensions will see China hardening its stance towards Australia.

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United States: Stimulus plan paves the way for record trade deficit

As the world's largest importer, and second largest exporter of manufactured goods, the United States has had a trade deficit since the early 1970s. Escalating trade tensions - in particular with China - and the COVID-19 pandemic, which disrupted trade flows have affected the trade balance in recent year. The trade deficit has reached a record level of over 900 billion USD in 2020.

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Insolvencies in France: +22,000 businesses left dangling

In France, the number of corporate insolvencies in January 2021 fell by 38% year-on-year – exactly the same drop as in 2020. Although the economic & health crisis has not affected all sectors the same way, insolvencies have fallen significantly across the board. However, taking into account government support measures and the drop in turnover by sector, insolvencies in France should have risen by 6.5% in 2020. Learn more about 2020’s “hidden insolvencies” in our Focus.

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The business insolvency paradox in Europe: Miracle and mirage

Normally, insolvencies rise when the economy contracts. Yet, in 2020, insolvencies fell in all major eurozone economies. It is safe to assume that government support is keeping many fragile firms alive – are we therefore seeing the "calm before the storm", with a wave of insolvencies around the corner?

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Middle East & Africa: volatile oil prices lead to varying effects on producing countries, including diversification

The COVID-19 pandemic’s negative impact on global GDP growth and trade volumes caused a sharp decline in oil prices. Coface expects oil prices to remain volatile in the upcoming quarters. Read our forecasts in our latest Panorama.

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Poland Corporate Payment Survey 2021: amid support programmes, corporate payment delays have shortened during the pandemic

The fifth edition of Coface’s survey on corporate payment experience in Poland was carried out in November 2020, with 330 companies participating in the study, by Grzegorz Sielewicz, Coface Economist for Central & Eastern Europe.

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Coface handbook: Country & Sector risks 2021

Download the Coface handbook about Country & Sector risks 2021. Tools for identifying, assessing and monitoring the risks businesses are facing.

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Country & Sector Risk Barometer: Q4 2020 Quarterly Update

In spite of a gradual recovery, political risks are on the rise.

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Country & Sector Risk Barometer: Q3 2020 Quarterly Update

In spite of a gradual recovery, political risks are on the rise

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Germany Corporate Payment Survey 2020: German companies have switched to “crisis-mode” and offer less payment terms

COVID-19 and its effects on the global and German economy is the predominant topic of this fourth edition of Coface’s survey on corporate payment experience in Germany.

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Panorama: Global renewable energies climb despite COVID-19

Despite the COVID-19 pandemic, the renewables segment of the global energy sector has continued its ascension.

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The Netherlands - Corporate Payment Survey 2020

More payment delays alongside COVID-19 for Dutch companies

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Post-pandemic production relocation: an opportunity for CEE countries

The COVID-19 crisis has triggered a discussion on increasing supply chain resilience to foreign supply shocks.
Before the pandemic’s arrival in Europe, a lockdown of factories that temporarily suspended manufacturing in China put the supply of intermediary goods at risk. In order to limit such risks, supply chain managers are likely to diversify their sources of supply.

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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, in order 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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United States: Two-speed business bankruptcies

The COVID-19 pandemic has hit the United States (U.S.) very hard, inflicting a heavy human and economic toll.

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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 . Average payment terms improved in 2019, rising to 67 days compared to 69 days in 2018. And while 65% of companies reported experiencing payment delays in 2019 (63% in 2018), the average payment duration decreased to 85 days in 2019, down from 88 days in 2018.

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

Spain and Italy will be amongst the economies hardest hit by COVID-19, contracting by 12.8% and 13.6% respectively in 2020, according to Coface’s forecasts. Taking a closer look at the health of Spanish and Italian corporate balance sheets should help identify pockets of vulnerability where widespread defaults are more likely to materialize.

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Focus: Corporate insolvencies in Europe - temporary framework amendments kick the can down the road

The economic consequences of the COVID-19 pandemic are of an unprecedented scale in Europe. The twin supply-demand shock has resulted in the halting of production (at least partially) in many companies as employees cannot go to work and in a fall in consumption because of mobility restrictions. The decline in revenues has deteriorated companies’ cash positions, fostering an increase in payment delays – and, ultimately, payment defaults.

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