Publications

The total value of B2B sales on credit in Japan increased this year to 53.7%. Of the Asia Pacific countries surveyed, Japan was the most credit-friendly.

Late payments from domestic and foreign B2B customers were reported more frequently by respondents in Singapore than by their peers in Asia Pacific.

GDP is forecast to increase by more than 3% in 2017 and 2018, as household spending is spurred by low interest rates and an improving labour market.

Private consumption is driven by wage growth while export growth is driven by Eurozone demand and the country´s improved international competitiveness.

Hungary´s economic growth is expected to rebound in 2017 and 2018 after a slowdown in 2016, but the high level of external debt remains a major weakness.

Despite further growth, Poland is susceptible to a potential end of the Eurozone recovery. Adverse economic policies could dampen investor sentiment.

GDP is expected to grow 4.2% in 2017 and 3.7% in 2018, driven strong private consumption and rising investments including structural funds from the EU.

Despite the current rebound the long-term prospect for higher growth rates is subdued due to structural weaknesses and the negative impact of sanctions.

Growth is expected to remain above 3% in 2017 and 2018, but the economy remains vulnerable to adverse developments in the automotive sector.

GDP growth is robust, but risks in the banking and corporate sectors have increased while high dependence on capital inflow remains a major vulnerability.

In 2017, 92.7% of respondents in Brazil reported late payments from their domestic B2B customers and 86.5% in respect to their foreign B2B customers.

After a minor increase from 47.6% in 2015 to 48.4% in 2016, the percentage of overdue B2B invoices appears to be flattening out, rising to 48.8% in 2017.

The short-term outlook remains satisfying, but Brexit will surely have a major impact on domestic car sales and British car exports in the mid-term.

Besides the risk of a sales downturn, the economic policies of the Trump administration could pose a potential challenge for the US car industry.

As more and more carmakers rush to enter into the electric and hybrid car segment, annual capacity in China is about to exceed 7 million units by 2020.

Automotive suppliers´ margins remain structurally under pressure, as the powerful car manufacturers demand greater productivity, coupled with lower prices.

The level of insolvencies in the automotive sector is low compared to other Italian industries, and business failures are expected not to increase in 2017.

A large number of small supplier businesses could face higher business and credit risks in the future as margins have declined and challenges increase.

The automotive sector faces decreasing domestic sales due to a decrease in population and a growing share of elderly citizens as well as tax hikes.

The Spanish automotive industry continues to benefit from the on-going economic rebound of the domestic economy as well as from increasing car exports.

The increasing importance of Big Data and embedded technology/electronics is expected to lead to increased M&A activities in the supplier segment.

Robust sales have kept profit margins of car producers and suppliers stable, and these are expected to maintain their current level in the coming months.

Due to the robust economic performance thus far in 2017 the outlook for the automotive sector remains favourable for the rest of the year and in 2018.

Most businesses in the automotive sector should be financially resilient enough to cope with some minor volatility in demand or exchange rate fluctuations.

Atradius forecasts insolvencies across advanced markets to fall by 3.0% this year and 2.0% next year, particularly led by an increasingly robust recovery in the eurozone.

Trump’s threats to revise NAFTA and build a wall at the Mexican border could offer new trade opportunities for businesses in relations with Mexico.

China is rebalancing its economy away from exports and investments towards consumption. This is weighing on GDP growth of its trading partners.

GDP growth is expected to slow down to about 1.5% in 2017 and 2018, as lower revenues from oil and gas exports negatively impact government investments.

GDP growth will decrease in 2017 as sharp inflation increase restrains consumer demand, but in the medium-term the economy should benefit from reforms.

Reforms have been made to diversify the economy by developing manufacturing and providing a favourable investment environment. But stumbling blocks remain.

With the oil price well below its fiscal break-even level of around USD 78, the government still faces the challenge of keeping a tight grip on spending.

La lotta alla burocrazia e la riforma dei sistemi fiscali e di sovvenzione sono necessari per migliorare le condizioni economiche e ridurre l'alto tasso di disoccupazione.

Tackling bureaucracy and reforming the tax and subsidy systems are necessary to improve the economic conditions and to reduce the high unemployment rate.

So far the UAE has weathered the global oil price slump relatively well, supported by its increasingly diversified economy and ample foreign assets.

The Chinese chemicals industry has entered a phase of lower but still solid growth, with chemicals demand growth rates still above global average.

Producers are looking to take further advantage of low natural gas prices in the US, which enables the significant expansion of methane-based projects.

Profit margins of British chemicals businesses could be negatively affected by domestic economic uncertainty over the outcome of the Brexit negotiations.

Despite a rebound agrichemicals remains susceptible to sudden changes of exogenous factors like climate, market prices and exchange rate fluctuations.

The Italian chemicals industry continues to benefit from a rebound in domestic demand, however fiscal crimes plague the fuel wholesalers segment.

The sector records solid growth rates, but caution is advised with smaller fuel wholesalers and stations due to a grey economy in fuel trade in the past.

The robust economic growth has led to rising demand for petrochemical products, while the rubber and plastics are benefitting from automotive demand.

Indonesian chemicals sector growth is driven by demand from the construction and automotive industries and an increasing population with rising incomes.

The industry remains affected by the slowdown in the country´s economic performance, which has led to lower investments and decreased public spending.

Chemicals production growth is expected to increase about 2.5% in 2017 and 2018 while payment delays and insolvencies will remain at very low level.

Il sentimento del mercato è una vulnerabilità per il Sudafrica a causa del suo deficit di conto corrente e della dipendenza dagli investimenti di portafoglio per il suo finanziamento.

Despite the ongoing fragility a GDP rebound is forecast in 2017, and while some industries are expected to benefit from it, others remain subdued.

Questo rapporto Atradius su Brexit offre un aggiornamento sulla situazione economica attuale e la prospettiva di insolvenza un anno dopo che il Regno Unito ha deciso di lasciare l'UE.

ICT sales growth is slowing down, and in some segments requests to prolong payment terms and overdue payments have increased since the end of 2015.

Despite robust growth rates, pricing pressure and cheap imports are key challenges in the domestic ICT market, especially for smaller IT distributors.

ICT growth is expected to slow down in 2017 as increased economic uncertainty is affecting household consumption growth and business investments.