Turkey Payment Survey 2019: better picture in payment terms but companies are still cautious regarding economic prospects

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Turkey Payment Survey 2019: better picture in payment terms but companies are still cautious regarding economic prospects

This is the second edition of Coface’s payment survey in Turkey, with 586 participating companies located in the country. This time, the survey reflects the private sector’s perception of payment risks and their economic expectations, right after the recession that the economy went into during the second half of 2018. On the payment side, it seems that the deterioration of cash flows has slowed down and fewer companies expressed tougher conditions while making their payments. In 2019, the average payment term offered by Turkish companies to their clients stood nearly at 85 days on the domestic market and at 69 days on export markets. In 2017, companies reported that the average payment term was 108 days (without mentioning domestic or export markets). The main reason for this shortening seems to be the preference for short-term payments instead of taking the risk of non-payment in the longer term, after the currency shock of August 2018. Still, the average payment period remains long on an international scale. In Turkey, only 40.5% of surveyed companies request their export clients that payments be made within 60 days. On the domestic market, this ratio falls even lower at 33%. The ratio stands at 87% in Germany, 65% in Poland and 44% in China, regardless of domestic or export markets.

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