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Factors Chain International released today the much awaited industry turnover figures for 2005


Fresh statistics indicate that the total volume for factoring increased in 2005 by more than 18%. The world total stands now at €1,016,547 million.



FCI - Press Release April 2006.
Although the above figures indicate that the factoring industry continues to enjoy a double-digit yearly growth, even more impressive are the growth figures for international factoring, nearly 27% last year, a consistent pattern for the past years. It illustrates that exporters and importers, around the world, are becoming more and more familiar with the advantages to be derived from a factoring arrangement: working capital, credit risk protection and collection service for the exporter, while the importer benefits from buying on open account terms without the need to open letters of credit or other payment terms which have a restrictive character.

FCI itself grew to a membership of 206 members (59 countries) and was responsible for 56% of domestic factoring volumes and for almost 64% of all international factoring volumes. As global market leader, FCI is the only organisation which has the reach and depth to produce these world factoring statistics on a yearly basis.

Strong regional growth was seen in Asia, in particular again for Hong Kong (+60%), Taiwan (+57%), China (+35%) and India (+22%). A remarkable turnaround has come for South Korea, where international factoring has been reintroduced, this time with a solid emphasis on export factoring services. The introduction of factoring in Vietnam is in full swing and this promising market will be of great interest, reflecting Vietnam’s competitive position vis-à-vis China in particular.

In the Americas, Chile (+126%) was the strongest growing market, followed by Argentina, Mexico and Brazil, although in Brazil this growth is primarily related to domestic factoring only. In Europe numerous countries experienced excellent results with perhaps a notable exception for Italy where the factoring industry further contracted after its peak in 2002.

Other mature factoring markets like Australia and Turkey enjoyed a strong growth as well.

When Mr. Jeroen Kohnstamm, Secretary General of FCI, was asked to explain the reasons for these primarily positive figures, he listed three elements:

1. a general improvement in world economic conditions, despite high energy prices and high prices for other raw materials.
2. greater familiarisation in individual markets with the flexible and service oriented character of factoring, leading to a healthy increase in demand.
3. introduction of factoring in more and more countries, whether it is Peru, Egypt, Ukraine, the United Arab Emirates or an especially promising market like Vietnam.

The FCI website has been updated to reflect the new 2005 factoring statistics.

http://www.factors-chain.com/ppu/64



Lundi 1 Mai 2006
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