What's new

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. Using an analysis based on historical estimates of a potential trade balance, Coface estimates that the deficit could grow by 56 billion dollars as a result of the stimulus plan.

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The paradox of corporate insolvencies in Europe: miracle and mirage

In 2020, and even if the real impact of the COVID-19 crisis remains uncertain, the number of insolvencies actually fell in all major European economies. According to our research, the gap between the expected deterioration of the companies’ financial health and the number of insolvencies suggests that there is a high number of “hidden insolvencies” that have been postponed, rather than prevented.

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Coface Barometer Q4 2020 - An uneven recovery

In its latest quarterly Barometer and on the occasion of the publication of the country and sector risk guide, Coface highlights an uneven recovery across countries, sectors of activity and income levels.

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Attend our 25th Country Risk Conference 8-10 february

This year at our Country Risk Conference: 3 round tables to embrace the new business risks in a post-covid world.

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Coface publishes CEE Top 500 companies

In 2020, Coface has launched the 12th edition of the Top 500 companies in Central and Eastern Europe - Coface CEE Top 500.

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9M-2020 Financial Results: Strong balance sheet and positive operational KPIs

Coface releases its 9M-2020 Financial Results: A strong balance sheet and positive operational KPIs allow to launch share buyback programme

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COVID-19, a catalyst for political risks

In addition to our Q3 2020 Country & Sector Risk updates, Coface's Political Risk Index highlights a dual trend: a decrease in the risk of conflict at a global level, but an increase in the risk of political and social fragility.

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German companies have switched to "crisis-mode" and offer less payment terms

German companies want to cash in as early as possible, according to the fourth edition of Coface’s survey on corporate payment experience in Germany, conducted in July and early-August 2020, with 753 participating companies located in Germany.

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Coface reports a positive net income of €11.3m for the second quarter 2020 and continues to implement its strategic plan

Turnover for the first semester: €725m, down 0.6% at constant FX and perimeter:
Client retention and new business achieve record levels, with a positive net production of €33m.
First effects of re-pricing are now visible (+0.2%).
Revenues from services progress by 7%, including information services up by 13%.
Client activities continue to slowdown – a trend expected to continue over the following quarters.

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Post-pandemic production relocation: an opportunity for CEE countries?

Foreign trade and inclusion in supply chains had already increased in recent years, supported by EU membership by most CEE (Central and Eastern European) countries in 2004.

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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, 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

As the COVID-19 epidemic hits the United States very hard, Coface forecasts in its baseline scenario that the country's GDP will contract by 5.6% in 2020, before rebounding by 3.3% in 2021. Nevertheless, this forecast is threatened by the resurgence of the outbreak in several states, which are already pausing or even reversing the resumption of activity after the extensive lockdown of April.

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Coface finalises the acquisition of GIEK Kredittforsikring AS

Coface announces the closing of the acquisition of GIEK Kredittforsikring AS, a company that manages a short-term export credit insurance portfolio.

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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.

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

Although the second quarter of 2020 is shaping up to be the most challenging period of the year, there are now good reasons to think that the road to recovery will be long and arduous. Despite immediate tax deferrals, liquidity guarantees, it is likely that many firms will find themselves in difficulty.

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Business insolvencies in Europe: amendments to legal procedures temporarily postpone due dates

Many European countries have temporarily amended the legal framework of default procedures to help companies deal with the crisis, postponing growth of insolvencies in Europe.

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Coface Barometer: From a massive shock to a diversified recovery

Coface forecasts that the recession in 2020 (a 4.4% drop in world GDP) will be stronger than that of 2009. Despite the recovery expected in 2021 (+5.1%) – assuming there is no second wave of the coronavirus pandemic – GDP would remain 2 to 5 points lower in the United States, the eurozone, Japan, and the United Kingdom, when compared to 2019 levels.

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China Payment Survey 2020: Payment delays will increase further because of COVID-19

In the context of weaker activity in China due to the health crisis, Coface’s latest survey on business payments in China shows a deterioration in payment behaviour in 2019.
66% of surveyed companies reported payment delays. The length of payment delays remained stable at 86 days in 2019. Nevertheless, sectors that have been hit the most by lockdown measures will have to delay payments in order to survive in 2020 and the number of corporate insolvencies should increase.

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World Trade: despite a sudden interruption, global value chains still have a bright future

Early 2020 marked by a sudden interruption in world trade, hampered by a global recession and soaring uncertainty

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