The 24thWorld Factoring Yearbook edition has been released, confirming once again its position as an important and authoritative reference document for global factoring.
This 2020 edition of the World Factoring Yearbook contains 46 articles of which 39 are country market reviews and seven are specialist articles.
The Yearbook 2020 shows the key developments in the factoring industry including strong growth across Europe, Asia and South America, plus inciting articles on risk mitigation, frauds preventing, new technology, sustainable finance, blockchain, SCF in times of crisis and factoring for African SMEs.
Factoring markets proved highly resilient in 2019 and often exceeded expectations, especially in Europe. Of the 39 countries profiled in the 2020 World Factoring Yearbook, 64% reported growth in their factoring market, and it was in Europe, Asia and South America where the growth was most widespread. In Europe for example, 70% of the 20 countries profiled reported a growth in factoring turnover.
In Europe what is striking is that the growth has mostly been in double digits. Of the 20 European countries profiled 11 recorded growth of 10% or more, and in five countries the growth rate was more than 15%. Only six countries in Europe reported nil or reduced growth: the UK, Switzerland, Romania, Croatia, Denmark and Turkey. The strongest market growth was in Russia, Poland and Serbia.
Reports from Asia were mixed but most countries recorded sound growth. Factoring volume in India rose by 12%, in Taiwan the volume of factoring increased by 14.7% while in Vietnam factoring volume rose by 36%, largely as a result of a substantial increase in export factoring.
In South America Columbia and Peru reported strong growth in their factoring markets. In Columbia factoring volume rose by 12.9% while in Peru the factoring market recorded its fifth year of growth increasing by 12.1%. Chile and Brazil, with a much larger factoring markets, saw factoring volume rise by 6.5%, respective 0.4%.
What lay behind this growth tended to be an increase in client numbers, especially from small and mid-cap companies, and higher lending requirements by larger corporates.
A detailed analysis per country, plus specialist articles on topics mentioned above are exclusively presented in the new edition of World Factoring Yearbook. To order your copy, click here.