News & Publications

What's new

11/21/2017
Economic Publications

All Coface Publications

05/02/2017
Economic Publications

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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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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04/13/2017
Corporate Publications

Registration document 2016

Registration document 2016 including the annual financial report

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03/30/2017
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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03/21/2017
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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03/21/2017
Economic Publications

Country risk assessment map - 1st quarter 2017

160 countries under the magnifying glass

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03/20/2017
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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03/14/2017
Economic Publications

RMB depreciation, capital flow measures and new monetary stance - What are the implications for 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

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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02/03/2017
Economic Publications

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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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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01/24/2017
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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01/11/2017
Economic 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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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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07/19/2015
Economic Publications

Country risk assessment map - 2nd quarter 2015

Download our country risk map. 160 countries assessed with a unique methodology: Macroeconomic expertise, Business environment and Microeconomic data collected over 70 years of payment experience.

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06/17/2015
Economic Publications

India: Happy Birthday Mr Prime Minister

In May 2014, following 5 weeks of legislative elections, India’s Bharatiya Janata Party (BJP) leader – Narendra Modi – became Prime Minister(...)

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06/01/2015
Economic Publications

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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05/27/2015
Economic Publications

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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05/12/2015
Economic Publications

Morocco: credit opinion survey

Overview of payment practices in Morocco and economic prospects for businesses

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05/12/2015
Economic Publications

Morocco: the challenge of becoming an emerging economy

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

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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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03/26/2015
Economic Publications

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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03/08/2015
Economic 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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03/04/2015
Economic Publications

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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01/21/2015
Economic Publications

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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01/20/2015
Economic Publications

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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01/19/2015
Economic Publications

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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01/19/2015
Economic Publications

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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12/12/2014
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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12/12/2014
Corporate Publications

Panorama Coface: Insolvencies barometer

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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11/20/2014
Economic Publications

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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10/24/2014
Economic Publications

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

This publication is the October 2014 Coface Panorama country risk, and includes a study about World trade, which is stagnating in the first halfyear 2014 and is struggling to recover nearly 6 years after the start of crisis...

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09/29/2014
Corporate Publications

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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09/25/2014
Economic Publications

China : carrot-and-stick

Since the beginning of the year, the Chinese government has continued its effort to carry out various items on the reform agenda, particularly on...

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09/19/2014
Economic Publications

Panorama Russia: The russian economy towards glaciation?

The Ukrainian crisis has occurred in a context of significant weakening of the Russian econ-omy. In 2013, Russian growth fell to 1.3% after an average GDP progression of 4.8%between 2000 and 2011.

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09/04/2014
Corporate Publications

Romania: Will economic growth come back to strong performance?

(Etude disponible en anglais) La performance économique de la Roumanie a démontré qu’elle est devenue un des leaders de la reprise en Europe. La croissance a dépassé les attentes avec un PIB qui a progressé de 3,5% en 2013. Les secteurs de l’agriculture et de l’industrie, et tout particulièrement celui de l’automobile qui fournit principalement des clients étrangers, ont été les principaux moteurs de cette hausse. Si la croissance ne devrait pas continuer à évoluer à cette allure en 2014, les perspectives demeurent favorables.

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07/10/2014
Economic Publications

Panorama Country : Brazil

Downgraded to A4 , Brazilian economy gears towards a year of adjustments in 2015

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06/26/2014
Economic Publications

Panorama country -Turkey - what to expect in 2014 ?

If the tensions rise again as it happened in December and January, this may harm investors’ confidence and result in a fluctuation in forex markets. Such a situation would have a negative impact on the corporate sector’s external debt stock which is already at record high level.

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06/12/2014
Economic Publications

Panorama Country Risk, the British recovery: miracle or mirage

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.

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06/06/2014
Economic Publications

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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05/26/2014
Economic Publications

Changes regarding SMES in France and Spain - Insolvency barometer in France

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

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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
Economic Publications

CEE Insolvencies : 2013 was a challenging year for companies in Eastern Europe

The results of a study on insolvencies among the CEE economies, a region experiencing a sharp rise in the rate of insolvencies in many countries during 2013 (e.g. up 39% in Bulgaria and 32% in the Czech Republic).

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04/15/2014
Economic Publications

Electronics in Asia / Sector Barometer

Focus on the electronics industry in Emerging Asia, a region that has become in a matter of years the world’s workshop for many electronic components.

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03/25/2014
Economic Publications

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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03/06/2014
Economic 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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01/29/2014
Economic Publications

Panorama China : What to expect in 2014

Since the Third Plenary Session of the 18th Communist Party of China Central Committee (CPCCC) in November, a broad spectrum of exciting reform plans have been announced, and the government had a series of follow-up actions. These are clear signals that the Chinese effort to restructure the economy is more than just rhetoric.

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10/13/2013
Economic Publications

Should we stake everything on the Asian consumer?

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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09/26/2013
Economic Publications

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. In Europe, sector risks continue to deteriorate, especially in chemicals due to the remaining difficulties in the European industry, and also in the pharmaceutical branch due to the fiscal tightening measures taken by the governments.

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07/15/2013
Economic Publications

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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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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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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12/10/2012
Economic Publications

Switzerland: economy is bending but has not given away

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. Not forgetting, of course, a renowned financial market, making it a major player on the international scene in wealth management activities. These are strengths which sometimes turn into weaknesses.

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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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