Greece: companies cautious on credit but upbeat in 2021

Baromètre des Pratiques de Paiement

  • Greece
  • Agriculture,
  • Chemicals/Pharma,
  • Consumer Durables,
  • Food,
  • Services

25 nov. 2020

COVID-19 and the following recession have had a significant impact on economies throughout the world. Greece was not the exception.

Introduction

Over the past few years Greece has been enjoying a relatively strong economic recovery and an overall decrease in insolvencies. At the time of this year’s Payment Practices Barometer survey, although many businesses were experiencing cash flow problems, on  the whole the country had not experienced such hard lockdown rules as some of its peers  in Western Europe.

Respondents to the survey reported greater confidence in their customers’  creditworthiness for 2021 than many other counties in Europe, and also shared a similarly positive outlook towards the domestic economy. Comparing the results of this survey to previous years and also other countries in Europe provides an interesting insight.

Key takeaways from the report

  • A greater percentage of businesses in Greece than anywhere else in Western Europe turned down requests for trade credit following the onset of the COVID-19 pandemic
  • Businesses offer longer payment terms to encourage domestic sales
  • Overdue invoices increase rapidly following onset of pandemic
  • Late payments in Greece increased 71% year-on-year.
  • More than half of businesses report cash flow difficulties
  • Businesses express optimism over improvement of customer creditworthiness in 2021

Interested in getting to know more?

For a complete overview of the corporate payment behaviour in Greece during the COVID-19 pandemic and global recession, please download the complete report. The report gives also insight into the impact of the pandemic-induced economic crisis on the following industries in the country:

  • Agri-food
  • Chemicals
  • Consumer durables
  • Food
  • Services

Download the full report
All content on this page is subject to our Disclaimer, available here.

 

 

Avertissement

Les informations figurant sur ce site sont uniquement fournies à titre indicatif et ne doivent pas être utilisées à d’autres fins que celles mentionnées. Nous vous remercions de bien vouloir vous reporter aux réglementations et accords en vigueur. Aucunes informations ne peuvent être considérées comme créant un droit, une obligation ou engageant la responsabilité d’Atradius y compris pour juger de la moralité d’un ou de plusieurs acheteurs. Si Atradius juge de la moralité d’un acheteur, elle le fait pour le compte de son arbitrage et en aucun cas au bénéfice de ses assurés ou toute autre personne. En aucun cas, Atradius, ses partenaires ou sociétés apparentées, agents ou employés, ne pourront être tenus responsables envers les lecteurs ou toute autre personne pour toute décision ou mesure prise sur la foi des informations contenues dans cette carte, ou pour tous dommages indirects, particuliers ou similaires, même si ces personnes ont été avisées de l’éventualité de tels préjudices.