Confirmed growth in the global factoring volume in 2019
The growth of the factoring industry in 2019 continued its upward trend and the reported figures indicate an increase of over 5% to reach 2,917 bn euro.
When looking at the individual markets, we must remember that the local currency fluctuation against the euro played an extremely important role, similar to past years.
Europe further increased its share of the total (68%) and showed a growth rate of 8% reaching a volume of over 1,976 bn.
France with a figure just short of 350 bn (+9.1%) maintains the lead, still followed by the UK 329 bn (+2.7%), Germany (estimated 275 bn, +12.8%) and, close behind, is Italy with 263 bn (+6.4%).
These four countries represent 62% of the European market. On the opposite side we still find Turkey with a minus sign: an 18.7% drop to 22 bn euro, however, in local currency the reported figure is -10%.
Next largest continent is Asia Pacific where the trend has dramatically changed negatively down (-1%) to a figure just short of 688 bn. We find the same trend when looking at the Greater China figure of just over 500 bn (Mainland China -2%, Hong Kong -10% with Taiwan’s great support up +17%) representing over 73% of the continent’s total volume. Singapore also dropped to just short of 40 bn (-10%) whilst India grew by 12% to exceed 5 bn.
South America, representing just under 5% of the world volume, shows a figure of 132 bb representing a growth of 8.9% over the previous year. The three best performers include Argentina (+35% to 4 bn), Chile (+27% to 34 bn) and Peru (+16% to 17 bn), followed by Mexico also with a positive sign (+3%). Brazil, accounting for 35% of the region’s volume, still shows a slightly negative figure (-1.2%)
North America follows with a negative trend (-3.7%) to reach less than 87 bn: Canada rebounded by +1% reaching almost 3 bn. In the US the figure relating to the small group of the larger players always reported in past surveys dropped to under 84 bn (-4.6%).
Africa’s efforts are beginning to show an upward trend (+11%) to almost 25 bn: South Africa leads the way with a +12% growth (21 bn) with Egypt (+14%) and Tunisia (+7%) demonstrating strong performance.
The Middle East also grew by 12%, to reach a figure close to 10 bn mainly thanks to United Arab Emirates, which experienced a 17% growth and Israel’s rebound (+2.6% increase).
