Aruanded

Despite still high growth rates the sector is facing a challenging economic environment, with fiercer competition and oversupplies in some segments.

A deterioration of trade relations with China could negatively affect the ICT component supply side and confront US end-consumers with higher sales prices.

Despite increasing challenges a recovery of the exchange rate and a rather stable economic outlook for 2018 should help the ICT industry in the short-term.

While many Japanese ICT businesses are highly indebted, companies obtain finance easily as banks are very willing to lend and interest rates are low.

Despite continued sales growth, most German ICT businesses operate on very tight margins due to fierce competition and price erosion in most subsectors.

Payment experience over the past two years has been good in the ICT sector and the level of insolvencies is low, with no major change expected in 2018.

Despite overall growth, many French ICT companies face structurally low margins, price pressure and an on-going consolidation process in the market.

While Dutch ICT distributors are becoming larger, many smaller companies are changing their business model to have a more service-oriented approach.

Despite robust growth rates, pricing pressure and cheap imports are key challenges in the domestic ICT market, especially for smaller IT distributors.

Due to limited organic growth opportunities and the on-going economic uncertainty, market players strive to expand through acquisitions and specialisation.

Despite signs of stabilisation since H2 of 2017 the ICT sector remains fragile, with businesses’ profit margins expected to shrink further in 2018.

Payment behaviour in the ICT sector has been good over the past two years, and the number of payment delays and insolvencies is expected to remain low.

In 2018, economic growth is expected to remain above 2%, sustained by domestic and international demand. The momentum is forecast to slow down in 2019.

In 2018 the number of Belgian business insolvencies will still be higher than the levels seen before the start of the global credit crisis in 2008.

The Danish economy has regained some of its international competitiveness due to structural reforms that addressed the issue of high labour costs.

Economic expansion remains broad-based, driven by private consumption and business investments, while export growth is sustained by the eurozone demand.

With about 55,000 business failures recorded in 2017 the number of insolvencies was still as high as during the start of the credit crisis in 2008.

The Irish economy is expected to grow by about 4% in 2018, but remains exposed to ongoing economic uncertainties stemming from the Brexit decision.

Despite a forecast 10% year-on-year decrease in 2018 the number of business insolvencies will still be much higher than the levels registered in 2008.

In 2018 and 2019 economic growth is expected to moderate somewhat but to remain robust, with private consumption and investment remaining the key drivers.

A potential downside risk would be another deterioration in house prices, given high levels of mortgage debt and banks’ exposure to the housing market.

A potential downside risk to the economic performance could be the high household debt in case of sharp house price decreases and interest rate increases.

With the rebound of economic growth, business failures are expected to decrease year-on-year in 2018, but nevertheless to remain on an elevated level.

British business insolvencies are expected to rise again in 2018, mainly affecting businesses active in the construction, retail and hospitality sectors.

The number of brick-and-mortar stores has significantly decreased - despite the fact that high street also benefits from the current sales increase.

The best way for smaller retailers to survive is to join a large purchasing association and to compete with e-commerce by providing outstanding service.

The business environment is highly competitive among the different distribution networks, reinforced by the increasing market share of online retailers.

The growing insecurity over US trade policy pushes the European Union and trading partners to speed up the completion of free trade agreement negotiations

By raising tariffs on steel and aluminium the US president has proudly delivered on a campaign promise. US steel and aluminium producers gain, but it comes at the expense of US metal consuming firms.

The global economy is in a sweet spot of broad-based economic growth and low interest rates, but we expect this to be bottoming out in 2018.

Despite higher prices, debt levels continue to rise in many energy exporters. Now is no time for complacency.

The economic recovery in emerging market economies is expected to continue strengthening in 2018 and these markets could present opportunities for business.

Global economic momentum, which began picking up in H2 of 2016, has solidified through the year. However, now is not a time for complacency.

GDP growth is expected to slow down to about 1.5% in 2017 and 2018, as lower revenues from oil and gas exports negatively impact government investments.

Despite the ongoing fragility a GDP rebound is forecast in 2017, and while some industries are expected to benefit from it, others remain subdued.

De nieuwste uitgave van de (Engelstalige) Economische Update, met daarin een beeld van de huidige wereldwijde economische omgeving en de vooruitzichten door Atradius Economic Research.

Lower GDP growth of 2.5% in 2016 and government budget hit by lower oil price. Public spending is curbed in order to trim the high budget deficit.

Weak economic situation and uncertain outlook as the security situation remains tense. Inflation is high and the business sentiment remains subdued.

A modest economic rebound expected in 2016, but fiscal consolidation remains difficult. Jordan remains heavily dependent on foreign donors support.

In 2016 economic growth will decrease to 3% due to less agriculture output and decreasing exports. In 2017 GDP is expected to rebound again, growing 4.5%.

The economy still has room to absorb the oil price slump, but a long-term period of low oil prices would hurt. Economic diversification is on the agenda.

A moderate economic rebound is expected in 2016 and 2017, given that the domestic security situation will not again hurt tourism and business sentiment.

As the oil price decrease has a negative impact on government revenues and lending conditions, many businesses face liquidity issues and payment delays.

The turbulent waters that the global economy faced at the beginning of the year have calmed but the underlying issues persist.

Survey findings point to Great Britain as the country in Western Europe that is the most impacted by late payment from export customers.

Insolvencies are forecast to fall only 3% across advanced markets in 2016, the worst performance since 2012.

Business insolvencies expected to increase 6% in 2016 as the slump in the mining sector continues.

Economic growth forecast to slow down to 6.3% in 2016, but no hard landing expected for the time being.

External indebtedness poses a risk to Indonesian businesses, and economic growth is slowing down further.

Slow pace of economic recovery, with GDP expected to grow 1% in 2016, and inflation remaining stubbornly low.