Romania’s factoring market increased by 12 percent in the first half of this year, compared to the same period in 2016, reaching EUR 2 billion, according to data collected by the Romanian Factoring Association (ARF), a press release informs.
“Overall, the growth is a consistent one, but the figures could have even been 5 to 6 percentage points higher if the economy would have also benefited from an increased investment level and not just in consumption terms. Capital expenditures (CAPEX) are still at minimum levels; there is still insufficient funding for key projects in infrastructure or energy and the EU absorption funds is at a very low level, these greatly affecting the economic development in the coming years,” ARF chairman Bogdan Rosu stated.
Import factoring registered an increase of over 14 percent. As regards the accessed products, the most significant percentage increase was due to the 58 percent reversing factoring, helping to maintain the import factoring on the first position without regress, with a volume of over EUR 1.25 billion.
According to ARF, the reverse factoring is an increasingly sought product in recent years, especially for the large companies.
In terms of import factoring, the IT & C had the best evolution compared to 2016, rising from EUR 106 million to nearly EUR 290 million, Rosu said.
Export factoring was up 3.5 percent in H1 2017 year-on-year.