Press release: The number of companies with payment defaults is decreasing
A statistical analysis, conducted by Krediidiinfo, of Estonian companies’ payment behaviour in the year 2008 and the second half of 2009 revealed that the number of companies with payment defaults among actively operating companies has decreased by 23%, amounting to 2,613 companies. At the same time, the number of companies with unpaid taxes has increased by 30%, amounting to 9,569 companies.
Based on the statistics of the Credit Register, the overall amount of payment defaults of Estonian companies (approximately 50,000) was 1.5 billion kroons in the second half of the year 2009, and the overall amount of unpaid taxes was 2.3 billion kroons in the same period, being divided between 2,613 and 9,569 companies respectively.
The number of companies with payment defaults has decreased during the year in all economic sectors – most notably in the sectors of agriculture (-48%) and information and communication (-43%). The number of companies with unpaid taxes has continuously grown in all sectors of the economy. The growth in the number of companies with unpaid taxes has been the biggest in the sectors of finance and insurance, and electricity (67% in both sectors) and the smallest in the sector of water supply (6,5%).
Decrease in the number of companies with payment defaults has been most notable in Hiiumaa (53%), Läänemaa (47%) and Viljandimaa (41%) counties. The growth percentage of the number of companies with unpaid taxes has been the greatest in Valgamaa (53%), Läänemaa (50%) and Jõgevamaa (45%) counties. Growth in the number of companies with unpaid taxes has been the smallest in Võrumaa (20%) and Harjumaa (25%) counties.
Based on the statistics, it can be said that the economic recession has had its effect on companies with all sizes – the number of companies with unpaid taxes has grown evenly during the year.
30 per cent of actively operating companies have a high credit risk. In certain sectors – construction, accommodation and catering – the share of companies with a high credit risk exceeds 40 per cent.
Regardless of difficult times, approximately 95 per cent of actively operating Estonian companies had no debts to business partners during the half-year, and 80 per cent have no unpaid taxes.
Krediidiinfo AS is the market leader in the Baltic states in the field of financial information gathering, processing and intermediation, whereas the main objective of the company is to decrease the financial risks of companies. Krediidiinfo is part of Experian Group, the biggest provider of information services in the world. Experian operates in more than 38 countries all around the globe, employing 15,500 persons.