World Factoring Yearbook reports global volumes continue to rise
Global factoring volumes continued to see an upward trend according to figures just released in the newly published World Factoring Yearbook 2013* which is produced n association with Factors Chain International.
The Yearbook reports upward movement in most of the global factoring markets during 2012 with particularly significant increases in China and Russia.
Russia bounced back after three years of sluggish growth with a remarkable surge in demand during 2012 of 63% by volume – more than any other financial sector reaching EUR36 billion. Russia also saw a slackening of price competition which had been fierce in recent years. China experienced an increase in volume of 27.6% to EUR341.3 billion with much of this hike due to an increased demand for export factoring.
Other major markets saw increases in volume too: UK 6.3%; USA 6.9%; France 7.6%; South Africa 26%; Australia 3.1%; Spain 0.49%; Germany 0.1%. However, there were also decreases in volume in 2012, notably Taiwan -10.7% and Brazil -2.7%.
Michael Bickers, Editor of the World Factoring Yearbook, commented: ‘the overall increase in volumes show a continued demand for factoring despite the difficult economic conditions in so many markets. This reflects the underlying strength of the receivable as an asset class and we expect even more dramatic rises when levels of economic growth improve and the demand for working capital finance among SMEs will become more pressing.’
*The World Factoring Yearbook 2013 is available from BCR Publishing, £140.00
Read more at www.bcrpub.co.uk/order-form