Swiss companies show impressive payment discipline despite crises
The payment behavior of companies remains stable in many countries despite the challenging geopolitical situation - and is even improving in some cases compared to the same period last year.
Swiss companies occupy a leading position in Northern Europe with 68.8% punctual payments. German companies follow with 64%, also positioning themselves in the upper segment of the European market. These are the findings of the Payment Study 2024 by Dun & Bradstreet (D&B) and CRIBIS, which examines the payment behavior of companies in over 30 countries. Data up to December 31, 2023 was taken into account for the study.
In a European comparison, companies in Denmark (94.2 percent), Poland (82.7 percent) and the Netherlands (76.1 percent) pay more punctually than in Switzerland. By contrast, companies in southern European countries such as Spain (46.7%), Italy (41.1%) and Portugal (19.2%) rank behind Switzerland.
A comparison of sectors in Switzerland shows a varied picture: companies in the construction industry (75.2%) and finance (73.5%) continue to pay very reliably. Wholesale (63.3%) and retail (62.9%) show average payment behavior. The significant decline in punctual payments in the forwarding and logistics, communication services and local and long-distance transport sectors is particularly striking.
Asian companies have lower payment practices on average. Companies in China (56.3%) and Singapore (41.1%) stand out with a positive development. In North America, companies in the USA (59.5 percent), Mexico (44.9 percent) and Canada (33.8 percent) are less likely to pay on time than in Switzerland. There is a continuing trend worldwide: smaller companies often pay more punctually than large corporations.
"Overall, it is clear that many economies have been able to cushion the impact of the coronavirus pandemic and the war in Ukraine," says Arun Singh, Global Chief Economist at Dun & Bradstreet. "Nevertheless, political uncertainties will continue to influence payment behavior in the future."
Source: www.dnb.com
