We are pleased to release the preliminary world factoring statistics for 2023, indicating that the Factoring and Receivables Finance Industry volume witnessed an increase of +3.3% in 2023, following a double-digit increase of 18.3% in 2022. Compared with the previous year’s €3,659 billion, the 2023 estimated volume of €3,781 billion represents lower increase than the last 2 years that had been challenged by the geopolitical situation in some parts of the world that impact the global trade world.

Looking at the past 20 years, the compounded annual growth rate increased to 8.3%, just an incredible feat. Both domestic and international factoring grew substantially over this 20-year period. In a changing world, as we experienced these past three years, it is reassuring to see how factoring and receivables finance can support SMEs and corporates to raise liquidity, protect their businesses against customer bankruptcies, and provide collection support around the world. 

Europe, the largest contributor to the industry, representing around 68% of global volume with €2,555 billion, has shown an overall increase of 2.3%. The Asia Pacific region represents approximately 24% of global volume with €936 billion, which experienced an increase of +6.2% over 2022. South and Central America, with 3% share of the total world factoring volume with €129 billion witnessed an increase of +4.3%. North America, with close to a 3% share of the total world factoring volume with €104 billion, remains stable. Africa represents a 1% share of the total world factoring volume. The total market adds up to a total of €47 billion indicating also a growth rate of 13.5% compared to 2022. The Middle East, representing 0.3% of the global factoring volume, remains stable.

FCI expects to release the final global factoring figures with details per country at the end of May. Considering the limitation of anti-competition rules, the release of the final is delayed compared to previous years to adhere to the various regional rules. FCI wants to thank all its members and partners for helping to report the best accurate figures of the factoring industry that allow FCI to be able to show the outside world the impact of the factoring and receivables finance industry on financing the real trade economy.