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04/10/2018
Country risk and economic studies

All the News

09/07/2017
Country risk and economic studies

Coface announces CEE Top 500 companies: Automotive & transport sector is the regional leader Oil & gas continues downturn, losing number one posit...

2016 – a mixed year for CEE. The labour market boomed, while turnover and net profit of the largest companies decreased by -0.6% and -3.1% / CEE Top 500 companies increased their workforces in 2016. Lower regional unemployment rates / Poland (+3.3% in turnover) remains the biggest player, followed by Hungary (-11.5%) and the Czech Republic (-2.2%) / Sectors: automotive industry up (+8.6% in turnover), oil & gas sector down (-5.6%) [...]

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09/07/2017
Country risk and economic studies

Central & Eastern European insolvencies overview

2016 showed a continued decline of 6% in the number of company insolvencies in the Central and Eastern European region, following a fall of 14% in 2015. [...]

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07/31/2017
Country risk and economic studies

How could “Trumponomics” affect Latin America’s economies?

Political developments in the US have caused uncertainties over the trade policies that could be implemented and the region’s vulnerability to tighter financial conditions.

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07/28/2017
Corporate news

Isabelle Laforgue and Nathalie Lomon join COFACE SA’s Board of Directors

At its meeting on 27 July, the Board of Directors of COFACE SA co-opted Isabelle Laforgue, Chief Transformation Officer of Econocom, and Nathalie Lomon,(...)

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07/17/2017
Country risk and economic studies

GCC banks urged to fine-tune liquidity management in order to address new economic cycle - Coface Economic Report

The stagnation of low oil prices is weighing on liquidity conditions across Gulf Cooperation Council (GCC) countries. This is slowing down government fiscal revenues, (...)

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07/11/2017
Country risk and economic studies

Asia Corporate Payment Survey 2016: Tail risks are on the rise

Coface’s latest annual payment survey covered 2,795 corporates in the Asia Pacific region, focusing on 8 markets: Australia, China, Hong Kong, India, Japan, Singapore, Taiwan and Thailand. The survey also traced the evolution of corporate payments in 11 sectors.

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07/04/2017
Country risk and economic studies

Sector risk assessments 2nd quarter 2017

12 Major sectors assessed worldwide

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06/07/2017
Country risk and economic studies

Infographics - Brexit: despite a series of shocks, british companies remain sound

Mixed resilience, first signs of Brexit during the exit negociations phase but still some positive points…

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06/07/2017
Country risk and economic studies

Brexit: Despite several shocks, the United Kingdom will remain attractive for businesses

Businesses have proven their resilience since the referendum, but a downturn in investments is starting to be seen.
The fall in growth (1.4% in 2017 and 1.2% in 2018) will lead to a rise in the number of business failures, of 8.7%1 and 8%1 respectively

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05/24/2017
Country risk and economic studies

Russia is emerging from recession, but the structural constraints risk impeding its mid-term growth

The diversification of the Russian economy, made necessary by a slump in oil prices that is set to last, is coming up against structural constraints that may well have a deleterious effect on its mid-term growth.

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05/23/2017
Corporate news, Product news

Coface places digital transformation at the heart of its strategy with launch of new customer portal

Coface’s new customer portal and fully revamped CofaNet online credit insurance contract management tool are being launched today. With the new solutions, customers will benefit from innovative features, unique access, customised content, advanced ergonomics, real time results displays and easier contacts.

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05/16/2017
Country risk and economic studies

New Coface survey shows optimism among UAE non-oil private companies

Coface, the worldwide leader in trade credit management solutions and risk information services, has published its first-ever Credit Opinion Survey for the UAE region (...)

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05/05/2017
Corporate news

Coface digitalizes the customer experience

One of the priorities of Coface’s three-year strategic plan Fit-to-Win is to enhance Client Service.

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05/01/2017
Country risk and economic studies

Labour shortages in the Central and Eastern Europe region: an opportunity for households but a threat for local companies

Developments in Central and Eastern Europe (CEE) labour markets have been beneficial for households. Rising wages and low inflation, combined with improving consumer confidence, have led to lower unemployment rates and an increase in private consumption.

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03/30/2017
Country risk and economic studies

Corporate payments improve in China in 2016 but ultra-long overdues are up under financial stress

A survey on corporate credit risk management, to which 1,017 Chinese companies responded, reveals that corporate payments improved in 2016, with only 68% of the respondent companies experiencing overdue payments in 2016 (...)

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03/21/2017
Country risk and economic studies

Country and sector risks worldwide - Business confidence is picking up again, despite persistent political risk

Main economic surprise of early 2017: the rise in business confidence is perceptible, but is not yet generating a positive widespread upturn in country and risk assessments.

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03/21/2017
Country risk and economic studies

Infographics: Sector risk assessments - 1st quarter 2017

12 major sectors assessed worldwid

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03/21/2017
Country risk and economic studies

Infographics : New political risk index for 159 countries

Conflicts grew by +100% between 2007 and 2015. 2017 likely to pay a heavy price, due to
intensification of armed conflicts

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03/21/2017
Country risk and economic studies

New Coface Political Risk Index in 159 countries

The widespread rise in the political risk conceals mixed regional dynamics

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03/14/2017
Country risk and economic studies

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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01/24/2017
Country risk and economic studies

Infografics - 2017: An economic upturn in the face of political risk

Four major risks for 2017 but some positives points...

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01/24/2017
Country risk and economic studies

2017: A year of political and banking risks for emerging countries

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

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01/12/2017
Country risk and economic studies

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
Country risk and economic studies

South Africa’s economy challenged by crises in agriculture and mining, amid fears of an investment downgrade

Concerns over the country’s economic performance have been amplifying, due to its prolonged economic decline since 2011 (...)

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12/19/2016
Country risk and economic studies

After a series of shocks in 2015 and 2016, Turkey’s economy is coming to the end of its new “Tulip era”

Greater political uncertainty resulting from two parliamentary elections in 2015, drying global liquidity due to the US Federal Reserve’s rate hike process and the weaker Turkish lira, all contributed to dragging down growth.

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12/13/2016
Country risk and economic studies

Uberisation of French economy: a positive impact on employment but will it last?

Taxi company insolvencies in France increased by nearly 60% in one year, rising from 141 cases in August 2015, to 224 at the end of August 2016 and resulting in the loss of 3.38 jobs on average (...)

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11/30/2016
Country risk and economic studies

German Economy in 2017: Stable, but not staid

The signs for Germany’s further economic development are promising, with a high level of stability. Coface’s expectations for solid growth therefore come as little surprise.

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11/25/2016
Country risk and economic studies

Global sector risks in precarious balance

At the end of 2016, global sector trends remained mixed, including in the regions that until now have been relatively spared by the increase in risks. Over the whole year, across 12 sectors evaluated in six regions of the world, nearly half saw their assessments change. There were 23 downgrades for 10 upgrades.

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11/09/2016
Country risk and economic studies

The first arrow of Abenomics: why is it not working?

Why did the yen depreciation, which occurred during the early success of the first arrow, not boost Japan’s merchandise export volumes?

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11/07/2016
Country risk and economic studies

Mexico’s Economy: more difficult times ahead

In the 2nd Quarter of 2016, seasonally adjusted activity decelerated to 1.5 %, down from 2.5% y/y reported in the previous period. Industry, which shrank by 1.5% q/q, was the main contributor to this weak result, due to the fall in oil production and challenges faced by manufacturing and construction industries. The services sector also slowed during the period, to a growth rate of 2.4% YoY, down from 3.4% for 1Q2016.

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10/17/2016
Country risk and economic studies

Infografics - Is political risk a new threat for the global economy?

European political calendar: crucial deadlines

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10/17/2016
Country risk and economic studies

Rising political risks in developed countries: the sword of Damocles hangs over Europe’s major economies

Periods of economic crisis naturally lead to heightened political uncertainty and this aspect is crucial in assessing country risks

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10/14/2016
Country risk and economic studies

Further downgrades triggered by the Brexit shock and falling oil revenues

Global growth: stability in developed countries, slight improvements among emerging economies

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09/23/2016
Country risk and economic studies

Latin America: Why are manufacturing exports still lackluster?

Foreign trade is unlikely to be a main contributor to the growth of Latin American economies over the next few years

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09/20/2016
Country risk and economic studies

Moroccan company payments survey 2016

Morocco’s growth rate has slowed in 2016, after recording an increase of close to 4.5% in 2015.

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09/16/2016
Country risk and economic studies

Poland Insolvency Report: Insolvencies fall amid fair economic growth

Poland’s economy is slowing this year, although the growth rate will remain fair: 3.2% for 2016, following 3.6% in 2015.
Business is benefiting from positive macroeconomic conditions.
Insolvencies and restructuration proceedings fell by over 14%. Coface forecasts further improvements, with the number of proceedings falling in 2016 and 2017.

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09/14/2016
Country risk and economic studies

The French economy: a temporary pause in growth

Q2 impacted by external shocks
2016 growth forecasts remain positive at 1.6%
Non-financial corporate debt: an upward momentum unique in Europe but far below alert thresholds

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09/14/2016
Country risk and economic studies

Short-term risk is reduced for the French automotive sector, but profound changes are ahead

The automotive sector has been upgraded to the best risk category
Private buyers are returning to the car market, driving up sales of new vehicles, which are expected to increase by 5.6% in 2016

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09/09/2016
Country risk and economic studies

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

Several favourable factors are boosting the sector, including rising populations, increasing demand for processed food, higher per capita incomes and improved production capacities. Infrastructures, climate and government strategies are major influencers.

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09/05/2016
Country risk and economic studies

Coface publishes CEE TOP 500 Companies

Biggest players benefit from favorable business conditions in CEE
• Booming economy: +4.2% increase in turnover
• Poland wins again, Czech Republic climbs to second place, followed by Hungary
• Sectors: 12 out of 13 sectors report increase in turnover - only oil & gas remains in difficulties

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08/31/2016
Country risk and economic studies

Pharmaceutical companies in the United States face two opposing scenarios for their business: "optimistic" or "pessimistic”

Despite strong private and public investments, health indicators in the United States are below average compared to the 12 most advanced countries

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08/30/2016
Country risk and economic studies

The outlook for the us pharmaceuticals

Of all the industrialised nations, the USA has the highest expenditure for public healthcare but poor results

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08/26/2016
Country risk and economic studies

New Germany Corporate Payment Survey 2016

Despite the solidity of Germany’s economy, payment delays are still commonplace

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08/09/2016
Event news

Insights: Rio Olympics

A mixed effect

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08/09/2016
Country risk and economic studies

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

China’s economy grew by 6.9% in 2015, the slowest expansion pace in 25 years. Growth should continue to slow in 2016 and 2017, and will probably undershoot the government’s average annual growth target of 6.5% - as set out in the five-year plan for 2016-2020.

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07/18/2016
Country risk and economic studies

Sector assessments revised in 6 global regions

Sector risks are still increasing in emerging markets
• Strong regional disparities persist: 5 out of the 6 downgrades are in emerging markets
• In Europe, dynamic household consumption is boosting many sectors
• The health of UK sectors is deteriorating and hinges on post-Brexit deci-sions

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07/13/2016
Country risk and economic studies

Coface Insolvency Panorama for Central and Eastern Europe: Less business insolvencies due to favourable economic conditions

The number of insolvencies decreased over the course of 2015 in 9 out of 13 countries, while the GDP-weighted regional insolvency average was -14%.

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07/13/2016
Country risk and economic studies

Infografics - Company Insolvencies in Central, Eastern and Northern Europe

Positive trends but the decline will be slower than in 2015 in some countries

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07/11/2016
Country risk and economic studies

United Arab Emirates: A new era of slower growth

High level of diversification does not make the UAE totally immune from the energy prices fall, retail and tourism challenged

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06/29/2016
Country risk and economic studies

Infografics - Despite persistent crises, Sub-saharan Africa presents opportunities in the 2025 time-frame

15 countries identified as having high potential consumer markets

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06/29/2016
Country risk and economic studies

Despite persistent crises, sub-Saharan Africa presents opportunities in 2025 time-frame

Heavily impacted by the Chinese slowdown and the fall in commodity prices, sub-Saharan Africa posted its lowest level of growth since 2008. 15 countries, including several that have been severely impacted by cri-ses, show significant potential in terms of consumer spending. Two sectors offer medium-term opportunities: retail and ICT

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06/27/2016
Country risk and economic studies

Brexit - Risks and opportunities says Coface

The referendum result has caused uncertainty and volatility in the markets. But also, with the lower value of Sterling, opportunities to export. However all this comes with the risk of not being paid.

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06/17/2016
Country risk and economic studies

Insolvencies in Northern Europe: Positive trends in the Netherlands, Sweden and Germany

Europe’s improved macroeconomic situation has had favorable effects on businesses in most European countries and led to fewer insolvencies in 2015 in the four Northern

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06/13/2016
Corporate news

Thibault Surer appointed Group Strategy and Business Development Director

Thibault Surer, 54, joins credit insurer Coface as Strategy and Business Development Director of the Group. The department he will head up covers Strategy, Business Development, Marketing & Innovation. Thibault becomes also a member of the Group Management and Executive Committees.

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06/06/2016
Country risk and economic studies

24 nations warming up for the euro 2016

Country risk assessments of qualified countries: their current form

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05/31/2016
Country risk and economic studies

No improvement in Asia Pacific corporate payments in 2015

Coface’s annual survey on Asia-Pacific economies questioned 2,793 companies in 8 markets (...)

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05/25/2016
Country risk and economic studies

Is the French economy definitely taking off?

A number of positive indicators for the French economy appeared between January and April 2016.

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05/17/2016
Country risk and economic studies

What to expect from Brazil’s perfect storm?

Brazil is in the midst of a perfect storm. The enduring political crisis and deep economic recession, which led to the collapse of confidence indexes, have now been topped by an impeachment trial of President Dilma Rousseff (...)

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05/10/2016
Country risk and economic studies

Hungary: Private consumption rising but challenges remain for corporates

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

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04/14/2016
Country risk and economic studies

Infografics - Steel: faced with global overcapacity

Metals industries, the world's riskiest sector. Over-capacities remain. Outlook: return to normal for 2018.

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04/14/2016
Country risk and economic studies

Steel overcapacity around the world: risk reaches a high in 2016

Following a long period of increasing demand, driven by China in the 2000s, steel is suffering from weak growth in the global economy.

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04/13/2016
Country risk and economic studies

Sector risks remain under pressure in the emerging markets

Global growth at half-mast (2.7% projected by Coface for 2016), under the impact of the highly volatility financial markets and continuing low oil prices, is compromising the health of industries analysed by Coface. (...)

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03/24/2016
Country risk and economic studies

Infografics: companies in emerging countries: is another “Phoenix miracle” possible?

Consult coface new infographics

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03/24/2016
Country risk and economic studies

Quarterly update of Coface country risk assessments

The global economy is turning "Japanese": world growth remains low, despite ultra-expansionist monetary policies (...)

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03/24/2016
Country risk and economic studies

Czech Republic, Poland, Chile, and Thailand closest to a quick upturn in exports

Although the current crisis in emerging countries is surprising in its intensity, with their growth cut in half in five years and increased exposure (...)

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03/17/2016
Country risk and economic studies

Few companies in China spared from overdue payments in 2015: 80% of corporates affected

A new Coface survey on corporate credit risk management, to which 1,000 companies based in China responded, reveals that corporate payments continued to deteriorate in 2015 (...)

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03/16/2016
Country risk and economic studies

Infografics: The return of Iran to the global market

Iran: Strengths, weaknesses, opportunities and threats

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03/16/2016
Country risk and economic studies

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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03/02/2016
Country risk and economic studies

Risks for German exports have risen significantly

The greater export risks faced by German companies are hampering growth performance. As Germany has strong trading ties with the Emerging Market and Developing Economies group (EMs), it is highly exposed to the (...)

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02/18/2016
Country risk and economic studies

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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02/17/2016
Country risk and economic studies

Panorama : Company insolvencies in France

Lessons learned 2015, hope in 2016: situation of companies returning to normal

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02/09/2016
Corporate news

Coface 2015 results: net income €126M and proposed dividend stable at €0.48 per share (5)

At the end of 2015, a year marked by a deterioration in the global economic environment, Coface recorded a slight increase in net income (group share), at €126M (€125M in 2014).

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01/26/2016
Country risk and economic studies

Infographics : Country risk assessment map - January 2016

160 countries under the magnifying glas

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01/26/2016
Country risk and economic studies

Country risks again under tension in 2016

To be monitored: cheap oil, financial market volatility and the Chinese slowdown in advanceD countries and growing debt of companies in emerging countries

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12/09/2015
Country risk and economic studies

Europe’s qualitative wine production model resists competition

French and Italian producers are not suffering from the new world competition on low and mid-level products while Spain is more vulnerable.

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12/09/2015
Country risk and economic studies

Sector assessments in the world, the persistence of high risks

2015 marked by the persistence of high risks around the world

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12/08/2015
Country risk and economic studies

Sector risk 4rd quarter 2015

The temperature of 14 sectors in 3 of the world’s major regions

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12/08/2015
Country risk and economic studies

Infographics : Globalisation of the vine market

Europe's double positioning and Asia, the world's futur landing consumer

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11/24/2015
Country risk and economic studies

French companies are starting to benefit from a tenuous recovery, although certain sectors remain at risk

Growth has returned to France, but it remains fragile.
Coface economists estimate a growth of 1.1% for 2015 and 1.4% for 2016. Company insolvencies are down, although the level remains high. Companies are benefiting from lower oil prices and advantageous tax measures, to restore their margins and for modernisations. They are expected to continue investing in 2016, although this is anticipated to follow the customary pattern for a recovery phase.

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11/24/2015
Country risk and economic studies

Construction: the Achilles' heel of the French economy

Following a long period of stagnation, construction in Europe is showing signs of recovery.
In France it is the only sector, out of the fourteen studied by Coface, to be rated as very high risk. However confidence is slowly returning. The pace of new-build and pre-owned sales increased respectively by 1.4% year-on-year at the end of September 2015 and by 9.3% in the 2nd quarter of 2015. Nevertheless, despite this slight upturn, the volume of activity in the sector remains below its pre-crisis levels. Household demand remains weak, mainly due to high housing costs and the lack of dynamism in the labour market.

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11/16/2015
Country risk and economic studies

Egypt: slow recovery and structural challenges

Coface forecasts growth of 4.4% for 2015/2016

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11/03/2015
Country risk and economic studies

Brazil: no quick fix for the crisis

Brazil, downgraded to B (significant risk of businesses defaulting) by Coface in September, has been facing a scenario of economic juggling. The Central Bank’s increase in interest rates, to control inflation, has compromised GDP. Lower activity is reducing tax revenues and threatening fiscal adjustment. In addition, the government needs Congress’s backing in order to reach its primary surplus targets – but this support is lacking. Political uncertainties are weighing heavily on the country’s economic performance.

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10/22/2015
Country risk and economic studies

Quarterly sector risk assessments update

Energy is more risky than ever, while Information and Communication Technologies is the only sector to receive a positive revision and Automotive is adjusting.
Although world growth is slowing down (2.6% GDP forecast for 2015 vs 2.7% for 2014), sector dynamics still vary widely throughout the world. Coface has revised its risk assessment for three sectors this quarter: automotive in emerging Asia, energy in the three zones surveyed, and ICT in Western Europe. Despite the difficulties of the oil industry, North America remains the least risky region, thanks to its still buoyant activity.

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10/19/2015
Country risk and economic studies

Half year 2015 Insolvency Report: Poland continues on improvement track

The current global economic situation could be summarised as a gradual recovery for advanced economies and turbulent times for emerging countries. Exceptions to this are the emerging economies of Central and Eastern Europe which, in most cases, are on an improving track. Poland, in particular, is outperforming. On a microeconomic level, company insolvencies in Poland are mirroring its accelerating economic growth. Insolvencies dropped by 5.1% in 2014. This trend is continuing and bankruptcies decreased by 3.3% during the first half of 2015, with economic growth recorded at 3.4% in the same period.

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10/15/2015
Corporate news

Focus on the future of solar energy in Europe: photovoltaics

Despite competition from China and the end of subsidies, the revival of the European photovoltaic industry seems likely.
Although photovoltaics only accounts for 5.3% of total electricity consumption in Europe, this sector has benefited from worldwide momentum in favour of "greener" energy consumption. Between 2004 and 2012 European electricity from photovoltaics increased sharply, from 0.7 to 62.4 billion KWh. This growth was driven by Germany, Spain and Italy, where 80% of Europe's photovoltaic facilities were located. The sudden expansion of photovoltaics was made possible by favourable government policies (a system of renewable purchase obligations and subsidies), plus the sharp and continued drop in the price of installations, intensified by Chinese competition. Europe led the field at that time, accounting for 75% of worldwide production in 2012.

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10/15/2015
Country risk and economic studies

Infographics: The temperature of 14 sectors activity in the world

Infographics: The temperature of 14 sectors activity in the world

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09/18/2015
Country risk and economic studies

Is a Chinese shadow cast over Asia?

China is trying to find a way to achieve healthier, more sustainable growth, but this is not completely painless for its economy – or for those of its neighbours. According to Coface estimates, growth is unlikely to exceed 6.7% in 2015 and 6.2% in 2016, compared with 13.4% over the period 2006-2007. This is mainly a result of the technological and capital catch-up process running out of steam: several industries are suffering from overcapacity and corporate indebtedness is high, thus impacting investment. We are witnessing a shift in the Chinese economic model. Which Asian countries will be the first victims if there is a hard landing? And which will enjoy the greatest immunity?

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09/18/2015
Country risk and economic studies

Country risk assessment map - 3rd quarter 2015

160 COUNTRIES UNDER THE MAGNIFYING GLASS

Macroeconomic expertise in assessing country risk
Comprehension of the Business environment
Microeconomic data collected over 70 years of payment experience.

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09/18/2015
Country risk and economic studies

Quarterly update of the Coface country risk assessments

Large and small emerging countries are experiencing strong turbulence.
Although worldwide growth continues to recover,its rate will not exceed 3% for the fourth year in a row. The advanced economies are doing much better: Activity in the USA rose significantly in the 2nd quarter (2.5% forecast for 2015), thanks to both consumer spending and investment, and in the Eurozone (1.5%) the gradual upturn in activity continues

The emerging countries (forecast growth of 3.5% in 2015, 4.2% in 2016) are overshadowed by the weakness of raw material prices and the fall in exchange rates against the dollar. In a number of the larger emerging countries, activity slowed down (China, Turkey, South Africa) or went into recession (Russia and now Brazil). The recent Chinese stock market collapse and its consequences on raw material prices have only intensified these weaknesses. According to Coface, the country risk in the emerging countries will remain a major point of vigilance this year.

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09/16/2015
Country risk and economic studies

How Gulf Cooperation Council countries (GCC) are dealing with falling oil prices

As oil continues to be a major contributor to economic performance in the GCC, economic diversification is vital for the Gulf countries to ensure continued healthy growth. This has been showcased in Saudi Arabia and the UAE, which are driving sustained GDP growth through significant government investment in non-oil sectors. In the UAE, the food and beverage sector is forecasted to grow by 36% between 2014 and 2019, while KSA’s automotive industry is slated to rise by 5.2% in 2015.

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09/09/2015
Country risk and economic studies

Latin America: what life after the commodity burst?

Growth in Latin America has been slowing down since 2011. This lacklustre situation, caused by weak domestic fundamentals, has been exacerbated by cyclical factors experienced since the second half of 2014. In 2015 we have ob-served a further deterioration of this downwards trend, with regional GDP ex-pected to contract by 0.2%. It will be the first recession since 2009, when activi-ty shrunk by 1.4% due to the subprime crisis.

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09/08/2015
Country risk and economic studies

Company insolvencies in Westerne Europe : a drop of 7% expected in 2015 but situation is contrasted

Company insolvencies in Western Europe have experienced two successive storms. The subprime crisis, which made insolvencies jump by an average of +11% in the twelve countries studied was, unsurprisingly, followed by (...)

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07/22/2015
Corporate news

The CEE automotive sector is highly dependent on foreign investments – but there are positive dynamics in domestic demand

The CEE region has become an attractive destination for investments by global car manufacturers. In 2014, 3.6 million vehicles were produced in Eastern Europe, equating to 21% of total EU production. In the CEE countries covered by Coface´s analysis there are 33 car factories, most of which were created by foreign direct investment (FDI) inflows. The analysis shows that despite high dynamics of car sales generated by local clients recently, CEE factories remain highly dependent on foreign demand.

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07/17/2015
Country risk and economic studies

Country risk map - 2nd quarter 2015

This map gives you a global overview of country risk assessments. Coface's methodology in assessing country risk uses macroeconomic expertise, comprehension of the business environment and microeconomic data collected over 70 years of payment experience.

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06/19/2015
Country risk and economic studies

Sub-Saharan Africa: three East African economies are sheltered from the economic storm

Although growth was accelerated by the high prices of commodities on which sub-Saharan Africa is highly dependent, the region must now deal with the effects of falling oil prices. The 45 countries screened by Coface are affected to different degrees. Three of these countries have all the ingredients needed for dynamic growth in the short and the long term. They have been relatively spared by the decline in world commodity prices and their economies are diversifying.

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06/19/2015
Country risk and economic studies

Quarterly updated country risk assessments

Downgrade for China. Economies affected by the fall in oil prices placed on negative watch.
Many countries are facing the full brunt of the decline in oil prices, especially emerging countries for which Coface has revised growth forecasts to 4% for 2015 (compared to 4.2% in March 2015). Meanwhile, developed economies (2% growth forecast for 2015 and 2016) are benefiting from the slight recovery taking shape in the eurozone (1.5% in 2015).

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06/17/2015
Country risk and economic studies

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.
Over the period ahead, the high volatility of the Turkish lira, the recovering but still-fragile growth in Europe and geopolitical risks weighing on the top export markets, are considered as the main challenges for the Turkish economy.
The textile and clothing sectors are among the most affected by the recent developments in the global economy and regional tensions.
The pharmaceutical sector remains solid, despite heavy regulations and lower profit margins.

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06/17/2015
Country risk and economic studies

Is India’s economic revival thanks to the Modi government?

In May 2015, the IMF highlighted India as “one of the bright spots in the global economy”, mainly due to more effective policies and the end of political uncertainty. Coface expects the country’s GDP growth to reach 7.5%. But to what extent have Modi’s reforms contributed to the recent pickup in growth? Are the improvements in the economy without risks?

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06/15/2015
Product news

Launch of TradeLiner: Coface revamps its credit insurance offer for mid-market companies

Aimed at the evolving credit insurance needs of mid-market companies, Coface has modernised its flagship policy, renamed TradeLiner. The move follows on from the experience Coface gained through its first global non-payment protection offer introduced fifteen years ago and is based on its desire to work harder to help protect mid-sized companies operating in the real economy.

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06/01/2015
Country risk and economic studies

Coface Insolvency Monitor for Central and Eastern Europe: Economic perspectives improved but corporate challenges remain

CEE’s improved economic activity in 2014 resulted in the stabilisation of company insolvencies, with a minor drop of -0.5% in the regional average
Multifaceted CEE region: Insolvencies rose in Slovenia and Hungary, while Serbia and Romania enjoyed a marked decrease
Positive Outlook: Coface forecasts that insolvencies will fall by - 6% in 2015

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05/26/2015
Country risk and economic studies

The end of milk quotas: New rules

April 1st 2015 marked the end of milk quotas in Europe, a regulatory tool imposed in 1984 in response to overproduction, leading to the so-called “butter mountain” and the “milk lake”. For the first time in 30 years, the market alone will determine the quantities of milk produced. Are French dairy farmers ready for this? Is the abolition of milk quotas going to make it possible for milk producers to supply the rapidly growing markets in Asia? Or to develop to meet the high level of demand for organic products?

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05/26/2015
Country risk and economic studies

Business insolvencies in France at the end of April 2015: The numbers continue to slowly improve, at -2.7% on a year

The favourable swing first seen in 2014 continues. The immediate rise in business insolvencies in the first four months was partly due to a catching up after the artificially low year-end data, because of the industrial action within the court system, which has however resurfaced in May.

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04/29/2015
Country risk and economic studies

70% of companies in the Asia-Pacific Region experienced overdue payments in 2014

Coface’s annual survey on Asia-Pacific region questioned 2,695 companies in 8 economies. 70% of the companies surveyed experienced overdue in 2014 - the highest level in 3 years. In addition, 37% of the respondents reported that overdue amounts increased in 2014, up by 2% compared with the previous year. Companies in China, India, Hong Kong and Thailand are particularly affected.

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04/15/2015
Country risk and economic studies

Two sectorial assessments updated due to impact of lower oil prices

The recent drop in the price of oil has had knock-on effects for company credit risk around the world. Among the 14 sectors analysed, Coface has identified one big winner and one big loser, with the corresponding assessments revised upwards or downwards.

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04/15/2015
Country risk and economic studies

Has the US automotive sector shifted safely into top gear?

The bail-out for the US automotive industry, at a cost of 80 billion dollars and large-scale layoffs, traumatised the United States. Its automobile manufacturers are now rebuilding their competitiveness and benefiting from the upturn in US economic growth (forecast at 2.9% in 2015). The industry has picked up and demand is being driven partly by easier access to credit, but at what price? In 2015, Coface’s model predicts an increase in sales of 3.8% a sustained level of growth, but well below the level recorded in recent years.
The automotive sector needs to continue to look towards the future and the changes required to meet the new challenges ahead.

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03/26/2015
Country risk and economic studies

Quarterly updated country risk and business environment assessments

Coface upgrades country risk assessments of two European economies and places Brazil under negative watch Business environment in Russia downgraded to C

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03/26/2015
Country risk and economic studies

Five advanced economies will avoid the risk of "secular stagnation" within the next decade

More than three years after the official recovery, advanced economies are struggling to return to a path of sustained growth. Some are even forecasting stagnant growth, a situation sometimes seen as irreversible. But not all advanced economies are in the same position when it comes to this risk of long-term stagnation and some exceptions stand out in what is a fragile global landscape. Which of the OECD’s advanced economies have what it takes to accelerate their growth over the next decade?

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03/19/2015
Corporate news

Holding a leading position in business information, Coface starts credit-insurance in Israel

Local companies to benefit from Coface’s expertise in prevention and credit risk protection in addition to collection and information services.

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03/09/2015
Country risk and economic studies

Corporate overdue payments in China at high levels: 80% of corporates affected in 2014

Slower growth and increase in non-performing loans expected in 2015

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03/06/2015
Country risk and economic studies

Impact of lower international oil prices on Latin America

Latin America is a major producer of commodities and the recent drop in oil prices is impacting the region’s countries in different ways. Which countries could benefit from lower international quotations - and why are others negatively impacted?

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02/17/2015
Corporate news

Coface posts 2014 results in line with objectives and proposes distribution of €0,48 pers share (1)

We are pleased to publish full-year results in line with our expectations. Our innovative product offering, appropriate distribution channels, extensive international presence and prudent risk management have all contributed to the significant improvement in our results.

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02/02/2015
Corporate news

Julien Marcilly appointed Coface Chief Economist

Julien Marcilly is appointed Chief Economist of Coface, with effect from 2 March 2015, reporting to Jean-Marc Pillu, CEO.

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01/26/2015
Country risk and economic studies

2015 Country Risk Conference: In 2015, the global recovery will be laborious and subject to multiple risks

The global economy is on the path of gradual recovery. Less vigorous than before the 2008 crisis, global growth continues to follow a moderately accelerating trend: +3.1% in 2015, after +2.8% in 2014 and +2.7 in 2013. Slight improvements are expected both in advanced countries (from +1.7% in 2014 to +2.1% in 2015) and in emerging countries (from +4.2% to +4.3%).

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01/20/2015
Country risk and economic studies

Turkey: Depreciation in exchange rates and sluggish domestic demand affect corporate payment performance

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. Turkey entered this period with a high current accounts deficit, a production sector substantially dependent on imports and three successive elections.

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01/19/2015
Country risk and economic studies

Middle East and North Africa region: What progress after the “Arab Spring”?

Economic activity is gaining strength in Middle East and North Africa region - Strong growth momentum in GCC countries continue, economic recovery in oil importers is on track - Oil exporters successfully diversified their economies, but they are still heavily dependent on hydrocarbon sector in terms of budget and export revenues - Oil importers face higher risks of geopolitical tensions - Morocco and Tunisia seen benefitting from European recovery, higher political stability

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01/14/2015
Country risk and economic studies

Latin America - Growth picking up for Pacific countries

Three decades ago, Latin America was associated with negative terms such as ‘dictatorship’, ‘debt crises’ and ‘high inflation’. Over the years, the region has begun to be associated with economic growth, the new middle class, poverty reduction and controlled inflation.In this edition of Panorama, we have decided to focus on two countries of the Pacific Alliance: Mexico and Peru. Mexico appears to have a medium term positive outlook. Peru’s case is also interesting and the country’s medium-term prospects are very favourable. Peru was identified as one of the 10 ‘new emerging markets’ by Coface earlier this year.

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12/15/2014
Corporate news, Product news

Coface obtains credit insurance license in Morocco and strengthens its leading position in Africa

Present in Morocco since 2007, Coface has now obtained its license for insurance and reinsurance activities from the regulatory authorities.

This means that Coface can directly offer its credit insurance solutions to Moroccan companies. In addition to collection and information services, Moroccan companies will benefit from Coface's expertise in prevention and credit risk protection for their commercial transactions, supported by the largest international credit insurance network.

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11/20/2014
Country risk and economic studies

After the economic crisis, what does the future hold for pharmaceutical companies in Europe?

The pharmaceutical sector’s dependence on the economic situation of European countries proved to be crippling for the industry during the 2008-09 crisis, and once again during the sovereign debt crisis of 2011-12. Particularly weakened by reduced health expenditure in Europe, pharmaceutical companies are now looking to revive, expand into new markets and invest in niche markets to break the deadlock.
The economic crisis, an accelerator of change in the pharmaceutical sector

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11/06/2014
Country risk and economic studies

Polish insolvencies stop rising - but for how long?

The insolvency statistics for Polish companies reflect an improvement during the first half of 2014. In total 402 companies declared bankruptcy, representing a decrease of 11.5% compared to the same period in 2013.

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10/24/2014
Country risk and economic studies

Global trade: a return to pre-crisis levels is unlikely, but the potential for growth exists

Following thirty years of unprecedented expansion, global trade is experiencing a period of radical change. Is the slowdown a cyclical phenomenon or long-lasting and structural?

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10/24/2014
Country risk and economic studies

Updated country risk assessments

A slow recovery but a recovery nonetheless in the Eurozone, political and financial instability in large emerging countries

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09/29/2014
Country risk and economic studies

United Arab Emirates grows stronger thanks to effective diversitication policy

• 5% growth projected for 2014 on the back of successful diversification policy
• Favourable business environment, supported by new company law to improve transparency
• Debt profile improves. Financing needs of government-related entities (GRE) continues to be a question

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09/24/2014
Country risk and economic studies

Carrot-and-stick: Challenges ahead for the Chinese economy

Since the beginning of the year, the Chinese government has continued its efforts to implement various items on the reform agenda, particularly those concerning...

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09/17/2014
Product news

European airlines are among the least profitable in the world: what is the adaptation scenario?

At a time when it appears vital to capture the growth potential in Asia, European airlines are stumbling due to aggressive competition from low cost operators and airlines from the Gulf. Currently, they are among the least profitable in the world. Faced with these new constraints, what changes are conceivable?

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09/11/2014
Product news

Launch of CofaMove application: CofaNet goes mobile

Coface now offers customers a mobile application providing access anywhere and at any time to the essential features of Cofanet, its online platform for managing credit insurance contracts. The application will be available for download at the Apple App Store and Google Play Store.

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09/08/2014
Country risk and economic studies

Company insolvencies in Brazil: what to expect in the near future?

Restructuring and bankruptcy remain increasingly used procedures.

Activity in Brazil remains lacklustre, inflation above targets and interest rates are amongst the highest in the world. Various indexes show that confidence in Brazil remains down, while the low investment ratio continues to deteriorate.

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09/04/2014
Country risk and economic studies

Romania at the front line of economic growth in 2013 – but will it catch up after the contraction in 2014?

Romania’s economic performance has made it one of the leaders in Europe’s recovery. Its growth has exceeded expectations, with GDP rising by 3.5% in 2013. Significant contributions came from the agricultural and industrial sectors, in particular from car production supplying mainly foreign customers. Although Romania will not continue this pace of growth in 2014, the outlook remains positive.

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07/25/2014
Corporate news

Serbia becomes 98th market for Coface’s credit insurance offer

Coface, a world-leading credit insurer, is enriching its offer in Serbia through a local partnership with Axa. From now on, in addition to debt collection and business information services, Serbian companies can benefit from Coface’s longstanding expertise in credit insurance and its international footprint.

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07/10/2014
Product news

Coface launches an innovative offering for SMEs in Belgium

Recognising that a quarter of bankruptcies are linked to unpaid invoices, Coface is introducing an innovative solution 100% on-line targeted at SMEs, key drivers of economic growth worldwide.

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06/12/2014
Country risk and economic studies

Coface notes an improvement in risks in Western Europe and in "new" emerging economies

The first quarter of 2014 confirmed the acceleration in global growth: according to Coface's forecasts, after 2.6% in 2013, growth will be close to 3% in 2014 and 3.3% in 2015. The eurozone (1.1% expected in 2014) is slowly but surely recovering from a serious double-dip. The US is showing dynamic and balanced growth (2.7% forecast in 2014), in spite of bad weather in January. A rebalancing of growth is therefore underway: advanced economies will contribute around a third of this (compared to only a quarter in 2013) and emerging countries two thirds.
It is in the context of this confirmed recovery that Coface has upgraded its assessments of several European and emerging economies.

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06/12/2014
Country risk and economic studies

The UK upgraded to A2 due to the strength of its recovery

Affected in 2009 by a recession more intense than other European countries under the effect of a sharp drop in household consumption and investment, the British economy is currently distinguished by the strength of renewed growth (1.8% in 2013). Forecast at +2.7% in 2014 by Coface, it could be as dynamic as that of the United States and exceed Germany (2%).
While the change from a service economy towards a diversified economy is gradual, the industrial renewal is underway. Despite several persistent weaknesses, Coface puts the country risk assessment of the UK at A2.

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05/23/2014
Country risk and economic studies

Coface forecasts a 13% drop in SME insolvencies in Spain and stabilisation in France in 2014

With comparable profiles in terms of entrepreneurial activity, Spain and France are following a worrying trend in terms of company insolvencies. However, SMEs in the two countries have evolved differently since the 2008-2009 crisis, and insolvency forecasts for 2014 further underline this divergence.

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04/29/2014
Country risk and economic studies

Insolvencies in Central and Eastern Europe 2013: New peak with 70,000 companies affected

• 2013 topped the record year of 2012: +5% more insolvencies in CEE due to the Eurozone slowdown and budget restrictions
• Top-performing sectors: IT, education and Healthcare
• Sectors lagging behind: construction, wholesale and retail trade
• Outlook for 2014 and 2015: insolvency rate finally stabilized?

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04/25/2014
Country risk and economic studies

New paradigm for the electronics industry in Asia: clear dynamism, increased risks

Emerging Asia is the new epicentre of electronics innovation. Local companies are now counting on the internalisation of production and research. However, the dynamism of the sector faces new risks, as the gradual rise in unpaid invoices. In 2013, close to 3 out of 4 companies in the electronics & IT sector in Asia-Pacific experienced overdue payments.

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04/25/2014
Country risk and economic studies

Coface quarterly credit risks survey: 14 sectors in three major regions of the world

Sector risk stabilising in North America and Europe but becoming a source of concern in emerging Asia.

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03/25/2014
Country risk and economic studies

Coface identifies 10 emerging countries hot on the heels of the BRICS

After 10 years of frenetic growth, the BRICS are slowing down sharply: for 2014, Coface forecasts growth of on average 3.2 points lower than the average growth these countries registered over the previous decade. At the same time, other emerging countries are accelerating their development.

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03/24/2014
Country risk and economic studies

Country risk assessments: United States one of best risks whilst major emerging economies struggle

The upturn in the advanced economies (1.9% forecast for 2014, after 1.2% in 2013) is reflected in the upwards revision of the country risk assessments for the United Kingdom and the United States, which join the best risk category.

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03/06/2014
Country risk and economic studies

China sees highest level of corporate overdue payments since 2010

Coface’s survey of corporate credit risk management in China, carried out in the fourth quarter of 2013, revealed that 8 out of 10 companies in China experienced overdue payments in 2013. The chemical, industrial machinery and household electric & electronic appliances sectors are at higher risk. Since credit facilities will remain tight in 2014, a deterioration in corporate payments could lead to a significant ripple effect in China’s shadow banking market.

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03/04/2014
Corporate news

2013 annual results

Good commercial dynamics and improvement in the loss ratio

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02/10/2014
Corporate news

Coface launches a direct offering in Colombia

As a leading credit insurer in Latin America, the Group now operates directly in 9 of the region’s countries.

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01/28/2014
Country risk and economic studies

China in 2014: stable growth with risks of financing and overcapacities. Risks remain in several sectors

2014 is a year of divergence for the Chinese economy, representing the diverging trends of macro and micro environments. Focus of 2014: rising cost of funds.

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01/21/2014
Country risk and economic studies

In 2014, favourable risk trend in advanced economies but persistent tensions in large emerging countries

After a post-crisis readjustment between advanced and emerging countries, in 2014 global country risks are set to change in line with a more classic model.

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12/27/2013
Country risk and economic studies

Coface Quarterly ‘Panorama Sectors’ - Textiles

Positive changes in North America and Asia
Risks stabilise in Europe as the textile industry invests in innovation

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10/16/2013
Corporate news

Appointments at Coface

Cyrille Charbonnel, the former Group Chief Operating Officer, has been appointed Western Europe Region Manager

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10/14/2013
Country risk and economic studies

Coface is optimistic about business risks in the United States and concerned about those of emerging countries such as Brazil and Thailand

Revised Country Risk assessments. Overall, advanced economies are doing better. The concerns come from the emerging countries, which are facing a structural decline in growth.

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10/14/2013
Country risk and economic studies

Emerging Asia : Coface warns of growing risks linked to household debt

The growth potential in Asia remains high, driven by the middle class. Malaysia, South Korea, Singapore and Thailand: household debt similar to that of the United States at the time of the subprime crisis.

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09/26/2013
Country risk and economic studies

Coface Quartely "Panorama Sectors"

Coface downgrades its credit risk assessment in three business sectors: chemicals, pharmaceuticals and automotive.

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09/19/2013
Corporate news

Coface is expanding with a global network of economists

The Group's economic research team is taking on a new international dimension by appointing economists in major regions around the world.

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09/18/2013
Product news

How Coface credit insurance can help you to prevent non-payment of invoices

A straightforward and didactic video to present, in less than three minutes, how Coface credit insurance can help you to prevent non-payment of invoices.

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07/17/2013
Corporate news

Cyrille Charbonnel is appointed Chief Operating Officer of the Coface Group

In this role, he will manage the operational functions of the Group together with Jean-Marc Pillu, Chief Executive Officer.

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07/16/2013
Country risk and economic studies

Brazil's economic woes: any chance of a kick start?

The archetypal emerging country, Brazil passed the test of the great crisis of 2009 with flying colours. Four years on, social protests have begun to highlight the failure of its growth model.

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07/02/2013
Corporate news

Coface wins the Le Fonti International Award, another major acknowledgment for Coface Italy

On 27 June, Coface was awarded the 2013 Le Fonti International Award in the special categories ‘Excellence in Credit Insurance’ and ‘Excellence in Services to Companies’.

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07/01/2013
Corporate news

Coface is expanding further in central europe to offer credit insurance in croatia

As of 1 July 2013, the first day of Croatia’s membership of the European Union, Coface simultaneously launches its credit insurance services in this country, to meet growing demand from companies.

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06/28/2013
Country risk and economic studies

World growth forecasts updated - June 2013

Last updated of growth forecasts.

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06/24/2013
Country risk and economic studies

A glimmer of hope for some advanced economies: Japan, Iceland and Ireland

Coface has noted an improvement in a number of advanced economies : Japan, Iceland, and Ireland. On the other hand, the contraction in activity, financial problems and above all growing political and social pressures are increasing risk in South Africa and Tunisia

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06/24/2013
Country risk and economic studies

Italy: Company payment practices worsen, reflecting the severity of the recession

The preponderance of fragile small companies and the sheer scale of late payment within the public sector.

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06/24/2013
Corporate news

Coface moves to Bois-Colombes, a new milestone in its history

The Coface Group, a global market leader for credit insurance, is leaving La Défense to set up its headquarters in Bois-Colombes (a northwestern suburb of Paris).

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06/04/2013
Country risk and economic studies

Victims of sluggish growth, businesses in Central Europe will not emerge from the crisis in 2013

Compared to Western Europe, defaults in Eastern Europe are accelerating at a very high rate.

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05/30/2013
Corporate news

Coface launches its new corporate website, a tool to help companies prevent commercial risks and protect their transactions

Following the rollout of its new visual identity, Coface has redesigned its Group website.

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04/29/2013
Country risk and economic studies

World growth forecasts updated - April 2013

World growth forecasts updated - April 2013

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04/18/2013
Country risk and economic studies

The gap between Europe and the rest of the world is widening

Credit risks still high in Europe but the outlook is favourable in Emerging Asia and in North America.

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03/28/2013
Corporate news

Nominations at Coface

Antonio Marchitelli has been appointed Mediterranean and African Region Manager of Coface, effective from March 1st 2013.

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03/20/2013
Country risk and economic studies

Risks are back on the radar in emerging countries

"Political instability, increasing protectionism, credit bubbles" : emerging country risks have not disappeared altogether, but have changed form.

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02/28/2013
Corporate news

In 2012, Coface improved its results despite the crisis

In an economic downturn, particularly in the euro area, Coface continues to grow its turnover.

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01/22/2013
Country risk and economic studies

The crisis in Europe is far from over for corporates

Based on its day-to-day contact with companies worldwide, Coface has issued a cautious scenario for the global economy in 2013.

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01/21/2013
Corporate news

A new identity and a new tagline for Coface

A new brand positioning, symbol of a strong commitment to clients.

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01/17/2013
Country risk and economic studies

First Coface "Panorama Sectors": Two-thirds of business sectors to carry risks

A new quarterly publication of Coface, focuses on the sector risks in the world. The world economy is analysed by means of 14 business sectors in three large regions: emerging Asia, North America and the European Union. The analysis uses three original indicators – strength of turnover, financial robustness and credit risk – developed by Coface economists and drawn from the payment experience of companies observed and analysed by Coface underwriters.

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12/04/2012
Product news

Worldwide launch of TopLiner

A supplemental cover beyond standard credit insurance.

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11/13/2012
Country risk and economic studies

World growth forecasts updated - November 2012

Last updated of growth forecasts.

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11/06/2012
Product news

Coface Global Solutions: A new service for multinational companies in 66 countries

A new service for multinational companies in 66 countries

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10/11/2012
Country risk and economic studies

France-Germany: comparative analysis of company insolvencies

The disturbing trend, observed during autumn 2012 about French company insolvencies, urged Coface economists to question themselves about the reasons which explain German companies’ resistance to the crisis.

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10/03/2012
Corporate news

Cécile Fourmann is appointed Human Resouces Director of the Coface Group

Cécile Fourmann brings the Group her broad experience in change management in multicultural environments.

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09/10/2012
Corporate news

Coface continues global expansion, strengthening its presence in Africa

Coface guarantees are now available in 97 countries.

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09/06/2012
Corporate news

Coface's results for the first half of 2012

Sustained growth in turnover and in net profit.

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07/10/2012
Country risk and economic studies

Country Risk Assessments review

The crisis worsens in Southern Europe and the Indian model begins to show signs of struggle.

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06/07/2012
Corporate news

Richard Burton is appointed Manager of the Asia Pacific Platform

He held the position of Deputy Manager up until he took over from Jean-Claude Speitel who retired at the end of May.

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05/31/2012
Country risk and economic studies

Companies' payment behaviour in China

Stabilized overall financial situation for Chinese companies, despite difficulties in accessing credit.

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05/15/2012
Corporate news

Laurent Mignon appointed Chairman of the Board of Directors of Coface

Laurent Mignon is the Chief Executive Officer of Natixis, shareholder of Coface. He takes over from François David, whose mandate has ended.

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04/23/2012
Country risk and economic studies

Country risk assessments review

Improvement in Japan and the United States,but euro zone risk on the rise.

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03/06/2012
Country risk and economic studies

Coface accelerates its profitable growth in 2011

The strategic refocusing on credit insurance has borne fruit.

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02/13/2012
Corporate news

Coface has finalised the grouping of its 21 European credit insurance branches into one company

Coface has simplified and streamlined the structure of its European credit insurance activities.

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01/24/2012
Country risk and economic studies

The construction sector

A persistent credit risk in most countries.

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01/16/2012
Country risk and economic studies

Coface Country Risk

Companies’ solidity already impacted by the systemic crisis in Europe and political risks in emerging countries

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03/03/2011
Country risk and economic studies

The food industry in the world

A companies under pressure faced with price volatility.

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