News and Publications

What's new

11/27/2018
Economic Publications

All Coface Publications

04/24/2018
Economic Publications

Currency Risk in Africa: easing in 2018, but reserves have melted

The exchange rate risk is still relevant on the African continent, as evidenced by the depreciation of the Angolan kwanza by more than 30% since the partial liberalisation of the exchange rate regime in January 2018.

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04/10/2018
Economic Publications

Country and sector risks barometers Q1-2018 : Beyond the peak of global growth

The leading Western economies continued to perform well during the first quarter of 2018. The United States (US) economy is expected to remain robust this year, with a GDP growth forecast of 2.3%.

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04/10/2018
Economic Publications

SECTOR RISK ASSESSMENTS - 1st quarter 2018

13 MAJOR SECTORS ASSESSED WORLDWIDE

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04/10/2018
Economic Publications

Country risk assessment map - 1st quarter 2018

160 countries under the magnifying glass

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04/10/2018
Economic Publications

The new Mediterranean trade routes

Integration is slowly declining in the mediterranean. Nevertheless, new trade routes have opened.

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04/10/2018
Economic Publications

Infographics - New mediterranean trade routes

More intra-mediterranean agreements. New bilateral trade flows are emerging

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04/05/2018
Corporate Publications

Registration document 2017

Registration document including the Financial report.

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04/03/2018
Economic Publications

China Corporate Payment Survey 2018: payment delays increase despite rapid and robust growth

The Chinese economy staged a comeback in 2017. GDP ticked up from 6.7% in 2016 to 6.9% in 2017, favoured by strong demand, as well as loose monetary and fiscal policy settings. As a result, risk managers have become more complacent, both in terms of their economic expectations and their risk management procedures.

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03/29/2018
Economic Publications

The singularity of political risk in Central and Eastern Europe

With the ongoing wave of elections in the Central and Eastern Europe region, CEE countries are experiencing a key period of change in a context of political risk and economic acceleration (...)

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03/13/2018
Economic Publications

Clash of the Titans: China’s rise fuels competition with Japan’s interests in Asia

China has undoubtedly modelled itself as the new champion of globalisation. Nowhere is this felt more strongly than in Asia (...)

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03/07/2018
Economic Publications

Companies in France: fewer business insolvencies, but still just as many “zombies”

The number of corporate insolvencies in France has continued to decline at the beginning of 2018: -8.3% year-on-year to end of January (...)

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03/06/2018
Economic Publications

Poland Payment Survey 2018: Payment delays mounting amid robust economic growth

The second edition of Coface’s survey on payment experiences in Poland was carried out in December 2017 (...)

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02/27/2018
Economic Publications

Mexico Automotive Industry: Headwinds coming from the North

The Mexican automotive industry has experienced strong growth since the signing of the North American Free Trade Agreement (NAFTA) in 1993. (...)

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01/24/2018
Economic Publications

Sector Risk Assessments - January 2018

Infographic - Sector Risk Assessments - First Quarter 2018

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01/24/2018
Economic Publications

Country Risk Assessment Map 1st Quarter 2018

Country Risk Assessment First Quarter 2018

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12/20/2017
Economic Publications

Turkey: Impressive growth but increasing vulnerability

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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12/20/2017
Economic Publications

France's organic agrofood sector

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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11/28/2017
Economic Publications

Germany's corporate payment survey

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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11/28/2017
Economic Publications

The UK automotive sector and Brexit

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, while other difficulties are accumulating against the backdrop of uncertainty.

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11/28/2017
Economic Publications

Poland insolvencies Focus

Business proceedings aimed at insolvencies and restructuring have been on rise in Poland this year. Over the course of the first three quarters of 2017 they increased by 14% compared to the same period last year.

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11/08/2017
Economic Publications

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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11/07/2017
Economic Publications

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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11/07/2017
Economic Publications

Infographics - New chinese ambitions in Sub-saharan Africa

Infographics - New Chinese ambitions in Sub-saharan Africa

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10/18/2017
Economic Publications

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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09/29/2017
Economic Publications

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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09/27/2017
Economic Publications

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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09/27/2017
Economic Publications

Are Bond Markets the New “Spare Tire” for Corporate 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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09/26/2017
Economic Publications

Infographic - Sector Risk Assessments - 3rd Quarter 2017

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

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09/25/2017
Economic Publications

Country Risk Assessment Map 3rd Quarter 2017

Each quarter Coface evaluates 160 countries with a unique methodology.

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09/08/2017
Economic Publications

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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09/07/2017
Economic Publications

Coface CEE TOP 500 Ranking

Automotive and transport is the leading sector in the region CEE

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09/07/2017
Economic Publications

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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07/31/2017
Economic Publications

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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07/19/2017
Economic Publications

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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07/13/2017
Economic Publications

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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07/06/2017
Economic Publications

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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07/05/2017
Economic Publications

Country Risk Assessment Map 2nd Quarter 2017

160 countries under the magnifying glass

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06/08/2017
Economic Publications

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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05/30/2017
Economic Publications

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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05/18/2017
Economic Publications

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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05/02/2017
Economic Publications

Labor Shortages in Central and Eastern Europe Countries: A Growing Concern for Businesses

Labor 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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04/21/2017
Economic Publications

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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03/31/2017
Economic Publications

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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03/23/2017
Economic Publications

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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03/23/2017
Economic Publications

Country Risk Assessment Map - 1st Quarter 2017

160 countries under the magnifying glass

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03/23/2017
Economic Publications

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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03/20/2017
Economic Publications

Impact of Monetary Policy and Currency Depreciation on Chinese Corporates

The potential depreciation of the renminbi (RMB), along with the implementation of capital flow measures, are longstanding concerns for China.

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03/13/2017
Economic Publications

Business Insolvencies in France: New Year Starts Where the Old Year Left Off

Business Insolvencies in France: New Year Starts Where the Old Year Left Off

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02/08/2017
Economic Publications

Panorama: Coface Brazil Corporate Payment Survey

Coface conducts payment studies for a number of different economies, including China, Morocco and Germany. This survey marks the first such edition for Brazil, with the objectives being to better understand the country’s corporate payment habits and the health of its economy.

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01/24/2017
Economic Publications

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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01/24/2017
Economic Publications

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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01/11/2017
Corporate Publications

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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12/20/2016
Economic Publications

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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12/19/2016
Economic Publications

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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12/13/2016
Economic Publications

"Uber-ization" 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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12/13/2016
Economic Publications

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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11/30/2016
Economic Publications

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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11/25/2016
Economic Publications

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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11/25/2016
Economic Publications

Infographics - Sector risk assessments - 4th Quarter 2016

12 major sectors assessed worldwide

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11/08/2016
Economic Publications

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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11/07/2016
Economic Publications

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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10/17/2016
Economic Publications

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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10/14/2016
Economic Publications

Country Risk Barometer Q3 2016

Concern again focused on oil prices,the emerging market thermometer

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10/13/2016
Economic Publications

Country risk assessment map • 3rd quarter 2016

160 countries under the magnifying glass

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09/23/2016
Economic Publications

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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09/20/2016
Economic Publications

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

As 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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09/16/2016
Economic Publications

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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09/14/2016
Economic Publications

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
Economic Publications

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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08/31/2016
Economic Publications

US Pharmaceutical Companies Have Enjoyed Their Day In The Sun, But Is It Time To Get Out The Umbrella?

Despite having the highest healthcare expenditure of all industrialized nations, US public health is far below that of other advanced economies

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08/26/2016
Economic Publications

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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08/09/2016
Economic Publications

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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07/18/2016
Economic Publications

Infografics - Sector risk assessments - 2nd quarter 2016

12 major sectors assessed worldwide

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07/18/2016
Economic Publications

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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07/13/2016
Economic Publications

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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07/11/2016
Economic Publications

United Arab Emirates: A New Era Of Slower Growth

The United Arab Emirates (UAE)’ economy is of the most diversified within the Gulf region. This diversification has become especially important since mid 2014, with plunging oil prices. Only 30% of GDP and nearly 20% of exports came from hydrocarbon revenues in 2015. This relatively high level of economic diversification has made the country less vulnerable to the shock in oil prices.

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06/29/2016
Economic Publications

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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06/29/2016
Economic Publications

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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06/29/2016
Economic Publications

Sub-Saharan Africa: Hit But Not Sinking

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

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06/17/2016
Economic Publications

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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05/31/2016
Economic Publications

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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05/25/2016
Economic Publications

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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05/17/2016
Corporate Publications

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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05/09/2016
Economic Publications

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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04/13/2016
Economic Publications

Infographics: Sector risk assessments • 1st half 2016

12 major sectors assessed worldwide.

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04/13/2016
Economic Publications

Barometer of sector risks - April 2016

For the first time, Coface updates its global quarterly sector risk assessments for 12 sectors, in 6 regions worldwide (compared to 3 regions previously).

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04/13/2016
Economic Publications

Steel sector: produce at all costs?

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

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03/24/2016
Economic Publications

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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03/24/2016
Economic Publications

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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03/23/2016
Economic Publications

Country risk assessment Map - 1st Quarter 2016

160 countries under the magnifying glass - Download our worldwide country risk assessment map.

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03/16/2016
Economic Publications

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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03/04/2016
Economic Publications

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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02/18/2016
Economic Publications

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

China, on its way to becoming an important financial player for economies with restricted access to international markets, has announced its intention to increase its (...)

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01/26/2016
Economic Publications

Panorama - 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.

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12/22/2015
Economic Publications

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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12/15/2015
Economic Publications

Panorama - In Front of the Globalization 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. On the other hand, wine consumption has increased in the rest of the world, driven by the households of the two leading global economies—the United States and China.

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12/09/2015
Economic Publications

Barometer Sector Risks in the World - December 2015

In a context of low worldwide growth, sectoral dynamics are mixed. Amongst the 14 business sectors monitored in three main regions of the world (Western Europe, North America and emerging Asia), three were downgraded during the third quarter of 2015: metallurgy in Europe, retailing in North America and textiles-clothing in emerging Asia.

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11/30/2015
Economic Publications

Panorama - Construction: The Achilles' Heel of the French Economy

Following a long period of stagnation, construction sector in Europe shows signs of recovery.

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11/16/2015
Corporate Publications

Egypt: slow recovery, structural challenges

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

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11/03/2015
Economic Publications

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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10/15/2015
Economic Publications

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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10/14/2015
Economic Publications

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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09/18/2015
Economic Publications

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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09/17/2015
Economic Publications

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 generally speaking, uncertainties about the rebalancing process the authorities have launched.

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09/16/2015
Corporate Publications

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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09/09/2015
Economic Publications

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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09/08/2015
Economic Publications

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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08/11/2015
Corporate Publications

2014 Activity report

The group’s 2014 activity report is available.

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07/22/2015
Corporate Publications

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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06/22/2015
Economic Publications

Global Country Risk Outlook

In this panorama, we first set out a study examining the economic situation and outlook for Sub-Saharan Africa. We are also publishing our quarterly barometer of worldwide trends in country risk.

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06/17/2015
Corporate Publications

India Panorama: Is India’s Economic Revival Thanks to the Modi Government?

In May 2014, following 5 weeks of legislative elections, India’s Bharatiya Janata Party (BJP) leader – Narendra Modi – became Prime Minister. Elected without the need for allies, this is the country’s first non coalition government for 25 years. Known to be pro-business, Mr Modi’s election has instilled hopes for reforms in a country where bureaucratic impediments and poor infrastructure have been constraining private and public investments for years.

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06/04/2015
Corporate Publications

Turkey Panorama: 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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06/03/2015
Economic Publications

Central and Eastern Europe: Company Insolvencies barometer

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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05/19/2015
Economic Publications

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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04/29/2015
Economic Publications

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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04/15/2015
Economic Publications

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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04/15/2015
Economic Publications

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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04/14/2015
Corporate Publications

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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03/26/2015
Economic Publications

Panorama 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".

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03/16/2015
Economic Publications

Panorama: 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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03/09/2015
Corporate Publications

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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03/05/2015
Economic Publications

Latin America Panorama: Impact of lower international oil prices on 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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01/16/2015
Economic Publications

Panorama Turkey

Insolvencies in Turkey - Disclosure of the exit strategy by FED Chairman Ben Bernanke in May 2013 triggered a new period marked by a change in the risk perception towards developing economies in financial markets.

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01/16/2015
Economic Publications

Panorama MENA

How do the Middle East and North Africa (MENA) economies perform after the social and political turmoil caused by the so called “Arab Spring” late in 2010? Have social and economic demands of
protesters resulted in a healthier economic outlook in these countries?

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01/14/2015
Economic Publications

Panorama Latin America - Growth picking up for Pacific countries

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

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12/15/2014
Economic Publications

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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11/24/2014
Economic Publications

Panorama Sectors

Coface reviews 14 sectors North America, Emerging Asia and Europe.

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11/21/2014
Corporate Publications

Panorma Poland Insolvencies

Polish insolvencies have stopped rising but for how long?

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10/24/2014
Economic Publications

Panorama Country Risk

The world economy has entered into a confirmed, but slow and uneven, recovery phase.

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10/02/2014
Economic Publications

Panorama United Arab Emirates

UAE economy grows stronger thanks to effective diversification policy

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10/01/2014
Economic Publications

China : Carrot-and-Stick

Challenges Ahead for the Chinese Economy

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09/22/2014
Economic Publications

September Panorama

This panorama at the end of the summer holidays focuses primarily on assessing sector risk in the 14 sectors of business in three major geographic regions.

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09/19/2014
Economic Publications

Panorama: The Russian Economy: Towards Glaciation?

The Ukrainian crisis has occurred in a context of significant weakening of the Russian economy.

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09/05/2014
Economic Publications

Panorama Brazil Insolvencies

Brazil Insolvencies

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09/01/2014
Economic Publications

Panorama Romania

Romania: Will economic growth come back to strong performance?

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07/16/2014
Economic Publications

Brazil Panorama

Brazil holds the 7th largest GDP in the world and it is the 5th biggest in terms of extension and of population (over 195 million inhabitants). It is also the main economy in Latin America, representing 40% of the total activity and with a GDP per capita of 11,1 USD.

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06/24/2014
Economic Publications

Panorama - Turkey What to Expect

The Turkish economy experienced remarkable growth within the last decade. The country’s gross domestic product nearly tripled during this period and
reached 820 billion USD at the end of 2013.

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06/17/2014
Economic Publications

Panorama Country Risk - First Half 2014

This panorama first contains a study on the strength of the British recovery.
Thanks to vigorous growth since the second quarter of 2012, we anticipate the UK
economy to get back to its pre-crisis level in the third quarter of 2014. A positive
short term economic context, like dynamic corporate investment, supported
by the flexible monetary policy of the Central Bank, led us to upgrade our risk
assessment for the UK to A2. This appraisal is strenghtened by the recent decisions
by the monetary authorities to cool down the real estate bubble.

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05/31/2014
Corporate Publications

Asia Pacific Panorama May 2014

Corporate Payment Trend and Sectorial Risk in Asia Pacific

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05/16/2014
Corporate Publications

2013 Activity Report

The group’s 2013 activity report is available.

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04/29/2014
Corporate Publications

Panorama Second Quarter 2014

We start this first 2014 Panorama dedicated to our global sector barometer, which assesses credit risk by key economic sectors in three of the world’s major regions.

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03/25/2014
Corporate Publications

Panorama Spring 2014

This panorama first includes a study dealing with new emerging markets. 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. The capital outflows linked to political, social and financial tensions attest to the heightened vulnerabilities of certain emerging countries.

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02/01/2014
Corporate Publications

Reality Check: Corporate Payment Trend and Sectorial Risk in China

The overall payment experience in China has deteriorated in 2013 comparing to 2012.

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01/21/2014
Economic Publications

Panorama China - What to Expect in 2014

Panorama China - What to expect in 2014

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12/17/2013
Economic Publications

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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12/01/2013
Corporate Publications

Panorama Winter 2013-14

Our third Panorama sector assesses the risks to which companies in fourteen key industrial sectors in emerging Asia, North America and Western Europe are exposed. On top of these evaluations, we provide for each of these major regions a comprehensive overview of developments in distribution, electronics, metals, automotives, pharmaceuticals and services.

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11/21/2013
Economic Publications

Insolvencies in the construction sector in France: breaking all dangers

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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10/13/2013
Economic Publications

Should we stake everything on the Asian consumer? <br> Autumn 2013 Panorama

This panorama contains a study on household consumption in Asia. How big is the rise in household consumption in this region? Have Asian households taken on too much debt? What are the specific consumer behaviour patterns in Asia? Which sectors are benefitting most from this expansion of consumption?

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07/11/2013
Corporate Publications

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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06/20/2013
Economic Publications

What has happened to the Italian business model?

This panorama contains a study of the Italian economy, which analyses and interrogates both macro- and microeconomic issues. We also present the latest adjustments to our country assessment.

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06/04/2013
Economic Publications

Central European companies in crisis: why?

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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04/18/2013
Economic Publications

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. The originality of the analysis is that it is based on aggregating the accounts of 6,000 companies in three of the world’s major regions: the European Union, North America and Emerging Asia.

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03/20/2013
Economic Publications

Transformation of emerging country risk

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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02/07/2013
Economic Publications

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.

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10/15/2012
Economic Publications

Updates and growth forecasts

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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04/15/2012
Corporate Publications

2011 Activity report

Jean-Marc Pillu, CEO of Coface: «In 2011, we achieved our goal of refocusing our operations on credit insurance».

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