This data refers to the “2017 European Payment Report” prepared by Swedish collection agency Intrum Justitia AB (the largest debtor in Europe). Help You Get More Trust & Opportunities in EU Chemical Market
The report pointed out that the solvency of Greece, Portugal, Spain, Italy, and Ireland can be said to be the worst in Europe. The average number of days of payment between Greek companies exceeds 2 months, reaching 63 days, and the general contract requires 49 days. This is also one of the longest paid records in European countries. Among the 29 member states of the European Union, only Portugal exceeds Greece for 68 days. REACH Search
The following is a list of the European Union's contractual B2B contract reimbursement period and how long it takes for the recipient to actually receive the money.
Greece
The average number of payment days for B2B transactions was 63 days. In addition, the number of days that Greek government agencies paid suppliers was even more on average 103 days. In 2016, the “champion” was Italy, 131 days.
Portugal
The average number of payment days for B2B transactions is 66 days.
Spain
The average number of payment days for B2B transactions is 55 days.
Italy
The average number of payment days for B2B transactions is 52 days.
Ireland
The average number of payment days for B2B transactions is 50 days.
France
The average number of payment days for B2B transactions is 46 days.
Netherlands
The average number of payment days for B2B transactions is 32 days.
United Kingdom
The average number of payment days for B2B transactions is 26 days.
Germany
The average number of payment days for B2B transactions is 19 days.
In terms of repayment risk, Portugal, Greece, Italy, and Iceland have the highest risk, and the Czech Republic, the United Kingdom, and Croatia are also on the list.
In addition, Justinia’s CEO Eriksson pointed out that the most disturbing finding was that low interest rates have lost their usefulness. Only 13% of respondents said that low borrowing costs prompted them to increase their investment while 81% of respondents The company said no effect.
This means that the cash flow of European companies is rapidly declining, which leads to a sudden increase in accounts receivable and overdue payments. In addition, although low interest rates no longer have an impetus for companies, interest rate increases will certainly have an adverse effect on them, further exacerbating this disturbing trend. Unless problems are repaired immediately, a large number of companies will default. Echemi.com
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