Chinese and Southern European companies pay late


Mihas 2021 Banner lang - Chinese and Southern European companies pay late
Foto: Austin Distel / Unsplash

Chinese and Southern European companies spend a lot of time paying their bills. The quick payers come from New Zealand, South Africa and Austria.

The red lantern goes again to China. Companies in China have to wait an average of three months for their money, says credit insurer Euler Hermes. However, five Mediterranean countries, including numerous Europeans, follow only just behind.

After China (92 days), Greece (90), Italy (86), Morocco (84), Turkey (79) and Spain (78) are also among the worst payers. After Saudi Arabia (77) and Taiwan (74), France and Portugal (73 each) are two more European countries in the “negative top 10”.

At 54 days (unchanged from the previous year), Germany is 11 days below the global average. This means 12th place: it was not enough for the “Top 10” of the fast movers. The most exemplary numbers are in New Zealand (47), South Africa (48) and the German neighbours Austria (49) and Switzerland (50).

Worldwide, companies in the electronics sector (89 days), mechanical engineering (86) and construction (82) have to wait a particularly long time for their money.