Since 2012, economic growth has been high, driven by private consumption which accounts for about 70% of the economy. Growth has also been sustained by rising demand for exports.
Natural gas prices have fallen significantly in Asia and Europe on the back of the sliding oil price. As more LNG comes on the market regional prices are set to remain low.
Atradius survey shows an uptick in late payment of B2B invoices in China, which can have a knock-on effect on the liquidity of some businesses in several countries in Asia Pacific.
Nearly half of the respondents in Australia said that the risk of payment delay and default from B2B buyers has increased over the past six months. One in five respondents rated it as “significant”.
62.0% of the businesses surveyed in China (compared to 46.3% in Asia Pacific) reported that domestic B2B customers have slowed invoice payment due to liquidity problems over the past year.
92.1% of respondents in Hong Kong (compared to 90.2% of respondents in Asia Pacific) reported having experienced invoice late payment from their B2B customers over the past year.
38.8% of respondents in India (29.6% in Asia Pacific) said domestic B2B customers pay invoices late intentionally, to use trade credit as a way of alternatively financing their business operations.
30% of survey respondents in Indonesia reported that payment on domestic B2B invoices is received late due to the formal insolvency of the buyer (respondents in Asia Pacific: 21.4%).
