Worldwide factoring industry experiences healthy growth despite difficult market conditions
Fresh statistics for 2002 show a 4% growth for worldwide factoring, according to the latest euro denominated figures for the industry, just released by Factors Chain International (FCI), the world’s largest network of factoring companies with a presence in nearly 60 countries. In U.S. dollar terms, the growth was a quite impressive 21%.
Although 2002 will be remembered as a year with very difficult market conditions and recessional trends in many countries, total factoring volumes continued to grow and outperformed most other sectors of the banking and financial services industry.