For the first time since factoring data has been compiled, the global factoring industry exceeded $3 Trillion in worldwide volume in a single year. For 2013, total global factoring volume was $3 Trillion or an increase of 10%.
The strong global performance in the factoring industry is impressive when you consider many if not all of the other providers of capital, traditional banks, fared nowhere near as strong a performance as the factoring industry overall.
If analyzing the factoring volume data over a longer period of just 5 years coinciding with the onset of the global financial crisis the results are even more impressive. Global factoring volume has actually doubled in the 5 year period. The increase of 1 Trillion EURO’s represents a 15% CAGR (compound annual growth rate).
This is part of the news from the largest International Conference for Factoring firms organized by FCI in Warsaw, Poland, March 18, 2018. This international event attracted key sponsors, incl. CODIX.
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