The Chilean factoring industry moved US$5.5bn in 2004, a 20% increase compared to the previous year.
Growth of similar rates due to new product development is expected this year, due in part to international factoring focused on export companies, the vice-president of Chile's factoring association (Achef) German Acevedo said.
In fact this type of factoring was 6% of local operations during 2004.
In the last three years, the domestic factoring market grew 20% due to a combination of elements such as the maturing of this type of services, economic reactivation and the exploding of a series of myths related to those instruments, Achef's president Alan Lolic told at the end of last year.
Source: Business News Americas
