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#Economic publications
Late Payments in France Reach Record High as 89% of Businesses Affected
Coface has released the 4th edition of its Payment Behaviour Survey of French Businesses, conducted in June among 690 companies. The findings highlight a further deterioration in payment practices across France: 89% of businesses experienced late payments over the past 12 months, while the average payment delay has increased to 41.2 days. Micro-enterprises remain the most vulnerable, facing both longer payment delays and greater pressure on cash flow.
29 / 09 / 2026
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#Economic publications
Is Spain Emerging as Europe’s Next Manufacturing Powerhouse?
While much of Europe’s industrial sector continues to face challenges from energy market volatility and geopolitical uncertainty, Spain is outperforming many of its peers. Spanish manufacturing production has already exceeded pre-war levels, supported by a diversified industrial base, competitive labour costs, and rapid growth in renewable energy capacity. Although these strengths position Spain as an attractive manufacturing hub, long-term success will depend on addressing structural issues such as productivity growth and electricity infrastructure investment.
24 / 09 / 2026
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#Economic publications
2026 United Kingdom Payment Survey: UK firms stuck in survival mode as payment delays hold back growth ambitions
Coface, a leading expert in trade credit insurance, debt collection and information services, has published the second edition of its survey (1) on UK companies’ payment behaviour, revealing that businesses are increasingly focused on preserving cash flow and are struggling to make ends meet. As companies extend payment terms to carefully manage cash flow pressures, many are caught in a stagnant cycle of supply chain disruption, leaving profitability finely balanced and investment confidence weakened.
15 / 09 / 2026
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#Economic publications
Copper, Nickel and Aluminum: Energy Transition Set to Drive Strong Metal Demand Growth by 2035
The global energy transition and rapid electrification are expected to reshape metal markets over the coming decade. As demand accelerates and supply struggles to keep pace, copper, nickel, and aluminum are likely to face structural shortages by 2035, creating favorable conditions for a new bull market in industrial metals.
08 / 09 / 2026
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#Economic publications
Low Water Levels Create Challenges for European Transport and Industry
Unusually low water levels on the Rhine and Danube are affecting freight transport, creating operational challenges for parts of the energy sector, and adding pressure on several European industries. Although river conditions may gradually improve, the effects are likely to be felt across supply chains and industrial activity in the months ahead.
01 / 09 / 2026
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#Economic publications
AI: The Gulf Region Enters a New Era of Strategic Dependence
Gulf nations are accelerating investments in artificial intelligence and data center infrastructure as they prepare for a future beyond oil. Yet this next phase of economic transformation brings a new set of challenges, including reliance on critical infrastructure, foreign technology, scarce specialised talent and growing pressure on natural resources.
07 / 08 / 2026
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To celebrate ICISA’s centenary, Coface presents its perspective on the future of credit insurance in the era of artificial intelligence
During ICISA’s landmark 100th Annual General Meeting in Vienna, Deepesh Patel, Editor of Trade Treasury Payments (TTP), sat down with Xavier Durand, Group CEO of Coface, to explore how the industry can respond to today’s evolving challenges. Read the highlights of the interview and watch the accompanying video below.
06 / 08 / 2026
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#Economic publications
United States Tightens Tariff Measures and Prepares Additional Trade Actions
The United States has replaced its temporary tariff regime with new duties ranging from 10% to 12.5%, targeting 60 countries that account for 99% of US goods imports. This move highlights Washington’s commitment to maintaining a robust tariff strategy while laying the groundwork for potential future trade measures.
31 / 07 / 2026
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#Economic publications
The United States, Canada, and Mexico: Renegotiating the USMCA Will Be Challenging, but North American Trade Is Here to Stay
As the United States, Canada, and Mexico begin the formal review of the United States-Mexico-Canada Agreement (USMCA), negotiations are expected to be highly contentious. Despite growing policy differences among the three trading partners, a long-term reversal of North American economic integration remains unlikely due to deeply established industrial and supply chain dependencies across the region.
07 / 07 / 2026
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#Economic publications
June 2026 Risk Review: A Breather in the Persian Gulf
As the Middle East enters a fragile period of reduced hostilities, the economic shock triggered by the conflict – supply chain disruptions, inflationary pressures, and market uncertainty – is already spreading across the global economy. Against this backdrop, Coface has implemented 8 country downgrades and 45 sector rating changes (41 downgrades versus only 4 upgrades).
23 / 06 / 2026
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#Economic publications
Latin America: businesses tighten credit policies amid rising late payments
In a challenging and uncertain economic environment, companies across Latin America are tightening their credit policies to safeguard their financial stability. However, these stricter terms are not enough to slow the increase in late payments. Today, nearly 8 out of 10 businesses report payment delays, a growing trend despite shorter payment terms. This combined dynamic highlights intensifying cash flow pressures across the region, driven by high financing costs and strong competitive pressures.
16 / 06 / 2026
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#Economic publications
Global insolvencies surge amid worsening economic conditions
Business insolvencies are rising sharply once again as the global economic outlook continues to deteriorate. In early 2026, worldwide insolvencies increased by 12%, largely driven by a significant surge in North America (+22%). Amid persistent geopolitical tensions and escalating cost pressures, Coface now projects a 6% global increase in insolvencies for 2026, highlighting a rapidly weakening business environment and a deterioration occurring faster than previously anticipated.
11 / 06 / 2026
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#Economic publications
EU–US trade deal: a strategic compromise to prevent tariff escalation under tight scrutiny
The compromise reached on 20 May between the Council of the European Union and the European Parliament on the ratification of the Turnberry Agreement signals a new phase in EU–US trade relations. While it suggests a transatlantic easing of tensions, the agreement is fundamentally built on a risk management strategy: limiting the threat of renewed US trade protectionism while preserving the EU’s ability to respond if commitments are not honored.
04 / 06 / 2026
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- #Economic publications
- #Expert advice
Export with confidence: how to reduce customer uncertainty internationally?
Exporting is no longer just an option: for many small and medium-sized businesses, it has become a key driver for unlocking new growth opportunities. Sometimes faced with a declining domestic market, more and more companies are looking beyond their borders. However, in a context marked by geopolitical tensions, a volatile economy, and strained global trade, expanding export sales also brings greater uncertainty: foreign customers that are difficult to assess, longer payment terms, and the risk of unpaid invoices.
22 / 05 / 2026
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#Economic publications
Middle East: A Cost Shock for China, Not Yet a Supply Shock
China is currently facing a cost-driven energy shock rather than a supply disruption amid rising geopolitical tensions in the Middle East. Thanks to strong energy resilience and strategic planning, the country has so far avoided major supply chain interruptions. However, higher input costs, especially in energy and chemicals, combined with slowing global demand are putting pressure on already tight corporate profit margins.
11 / 05 / 2026
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#Economic publications
US Tariffs: One Year Later – Current Impact and Outlook
The trade war dominated global economic headlines in 2025, and current trends indicate it is far from over. This analysis explores key evidence showing that the cost of tariffs is largely being absorbed by US companies, while also evaluating the resilience of global trade flows.
29 / 04 / 2026
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#Economic publications
CEE Insolvencies: Stability on the surface, underlying fragility and rising risk outlook
While overall insolvency levels across Central and Eastern Europe stabilised in 2025, Coface’s latest CEE Insolvency Study points to a far more complex and fragmented picture, with significant disparities between countries and sectors driven by diverging macroeconomic conditions.
21 / 04 / 2026
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#Economic publications
Can Arctic shipping routes truly transform global trade flows?
Geopolitical tensions in the Middle East and disruptions in the Strait of Hormuz have underscored the vulnerability of the global maritime transport network. Against this backdrop, Arctic shipping routes are gaining renewed strategic and economic interest, as climate change gradually improves navigability in the region. Coface’s analysis suggests, however, that over the next five years their direct commercial impact will remain modest, even though they may deliver meaningful advantages for specific commodity and bulk trade flows.
16 / 04 / 2026
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#Economic publications
From Safe to Exposed: How AI Is Redefining the Future of Work
More than three years after the launch of ChatGPT, the influence of artificial intelligence (AI) on the job market is still difficult to detect in broad employment statistics. Yet early signs of disruption are beginning to appear, especially in entry‑level positions within sectors most vulnerable to automation. A new joint study from Coface and the Observatory of Threatened and Emerging Jobs (OEM) provides a detailed mapping of how AI‑driven automation affects specific tasks across different occupations, revealing a clear shift in the boundaries of what can be automated.
01 / 04 / 2026
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#Economic publications
The conflict in the Middle East is causing commodity prices to soar
25 days after the launch of the Israeli American offensive against Iran, disruptions to the supply of raw materials via the Strait of Hormuz continue to fuel prices volatility. For the time being, oil & gas, fertilizers, petrochemical derivatives and aluminum are particularly affected.
26 / 03 / 2026
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#Economic publications
Poland Payment Survey 2026: strong economic growth amid deteriorating payment discipline
Coface’s 10th Poland Payment Survey, conducted among 326 companies, shows a marked decline in payment discipline, with average payment delays reaching 53 days, their highest level since 2021.
24 / 03 / 2026
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#Economic publications
Petrochemicals: Asian producers are the most vulnerable to unrest in the Middle East
The geopolitical turmoil in the Middle East is putting growing pressure on a key but often overlooked pillar of the global economy: the petrochemical industry. Asia, which relies heavily on supplies of liquefied petroleum gas (LPG), naphtha and methanol from the Gulf region, is already experiencing the first shockwaves of the crisis. Limited inventories are colliding with rapidly rising feedstock prices, increasing cost pressures and exposing the structural vulnerability of Asian petrochemical producers to disruption in the Middle East.
19 / 03 / 2026
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#Economic publications
US: ‘reciprocal tariffs’ go away, uncertainty stays
On 20 February, the US Supreme Court invalidated the ‘reciprocal tariffs’ imposed by the Trump administration. This is a major legal setback, but it does not change the overall trade policy landscape. The United States continues to maintain historically high tariffs, and the environment remains unstable for businesses.
05 / 03 / 2026
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#Economic publications
Middle East escalation: Energy at the center, risks far beyond
The military escalation between the United States, Israel and Iran is putting extreme pressure on energy markets. Although no major supply disruptions have been reported yet, the risks surrounding the Strait of Hormuz pose a threat to the global economy if the conflict continues.
03 / 03 / 2026
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