Debt collection in France
Exports in France increased to 39.913 Eur million in March from 39.757 Eur million in February of 2018 (156 millions of euro).
As a matter of fact, France’s economy is the sixth-largest in the world after the United States, Japan, Germany, China and the United Kingdom. It has the second largest economy in the European Union and it represents around one fifth of the Euro area Gross Domestic Product (GDP).
Much of France’s exports include a number of valuable commodities including machinery and transportation equipment, plastics, chemicals, pharmaceuticals, agro-food industry products, iron, steel, etc.
Particularly, France’s top ten exports are:
1. Machinery including computers: $60.7 billion (11.6% of total exports)
2. Aircraft, spacecraft: $51.6 billion (9.9%)
3. Vehicles: $50.8 billion (9.7%)
4. Electrical machinery, equipment: $41.8 billion (8%)
5. Pharmaceuticals: $31.4 billion (6%)
6. Plastics, plastic articles: $21.4 billion (4.1%)
7. Beverages, spirits, vinegar: $18.2 billion (3.5%)
8. Perfumes, cosmetics: $17.8 billion (3.4%)
9. Optical, technical, medical equipments: $15.9 billion (3%)
10. Iron, steel: $14.9 billion (2.8%)
Among the 10 largest product categories, iron and steel was the fastest-growing via its 28.9% in the last two years. In second place, was the perfumes and cosmetics category up by 14.2% year over year. On the other hand, aircraft and spacecraft was the sole top French export category to decline thanks to its – 3.3% in the same period.
As regards the Countries of destination of the export, 64.4% of French exports by value are delivered to other European countries while 18.2% are sold to Asian importers. France ships another 8.8% to North America with another 5.4% worth of French goods arriving in Africa.
Therefore, France exports the largest amount of goods and services to Germany (15% of total exports) followed by Italy, Spain (8% each) Belgium and the United Kingdom (7%). Outside of the European Union, the United States is the largest destination for French exports.
Insolvency is a record in Europe. However, as is widely known, the trend is European and also global.
Therefore, the insolvent ones are also many in France. In fact, 14.302 judgments opening insolvency proceedings were registered for the first quarter 2018 including:
- 9.965 liquidation proceedings;
- 4.055 reorganisation proceedings;
- 282 safeguard proceedings.
For this reason more and more often Companies choose the extra-judicial procedure – which is faster and less expensive compare to the legal approach – to recover credits.
Invenium, since the late ‘90s, is one of the largest Italian company specialized in International Debt Recovery. Nowadays, it operates in more than 100 Countries and has a Network of 117 Law Firms and Local Associates.
With more than 3,000 customers in Europe, 10.000 cases and 73 million receivables managed in the last two years, Invenium is the right choice for any company seeking effective results.
Invenium, for several years, supports in the recovery of credits only the out-of-courtapproach. Especially, the amicable settlement allows to resolve, in short times, conflict situations between debtors and clients and also facilitate their business relationships.
For further information contact us.