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FCI has published their preliminary world factoring statistics for 2023, revealing that the Factoring and Receivables Finance Industry volume saw a rise of +3.3% in 2023, following an 18.3% increase in 2022. Compared with the previous year’s €3,659 billion, the 2023 estimated volume of €3,781 billion represents a more modest rise than in the last two years, which were affected by geopolitical events that impacted global trade.
Over the past 20 years, the compounded annual growth rate reached 8.3%, impressing many across the industry Both domestic and international factoring have grown substantially during this period.
In the face of global changes experienced over the past three years, it is encouraging to see how factoring and receivables finance have supported SMEs and corporations in enhancing liquidity, safeguarding against customer insolvencies, and providing collection support worldwide.
Europe remains the largest contributor to the industry, accounting for about 68% of global volume with €2,555 billion and noting an overall growth of 2.3%.
The Asia Pacific region, representing approximately 24% of global volume with €936 billion, saw a growth of +6.2% over 2022. South and Central America, holding a 3% share of the total world factoring volume with €129 billion, experienced a growth of +4.3%.
North America, with nearly a 3% share of the total world factoring volume at €104 billion, remained stable. Africa holds a 1% share of the total world factoring volume. The total market, accumulating to €47 billion, also showed a growth rate of 13.5% compared to 2022. The Middle East, representing 0.3% of the global factoring volume, maintained stability.
FCI anticipates releasing the comprehensive global factoring figures, including details by country, at the end of May. Considering the limitation of anti-competition rules, the release of the final is delayed compared to previous years to adhere to the various regional rules.
