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Press release: During the last year the sum of the payment defaults has reached the record low

4. Sep 2013

The statistics gathered by Krediidiinfo AS with regard to payment discipline of enterprises in the first half of 2013 demonstrates that the total amount of arrears of active Estonian companies has decreased over the year by 55 percent. The successful last year allowed businesses to settle their debts. 

The amount of debt companies have before one another has dropped from 105 million to 47 million euros. It is important to note that the contribution to these figures was made by virtually all sectors of the economy. To the greatest extent the amount of debt was reduced in the sector of finance and insurance (-87.9%), services (-86.1%) and water supply, drainage and waste management (-85.8%). 

Tax arrears – that is the amounts that businesses owe to the state – has reduced from 65 million to 49 million euros (i.e. by 25%). The most significant reduction of debts before the state was registered in the agricultural sector (-57.5%), the accommodation and catering sector (-50.5%) and the real estate sector (-48.6%). 

The number of enterprises with debts before other companies and enterprises with tax arrears has decreased over the year by (-12.1%) and (-10.7%) respectively. The total number of companies with debts before other companies was 3,381, while there were 4,754 businesses with tax arrears. 

About the half of the entire amount of debt fell on the real estate sector, where the average size of the debt per single company was 532 euros. Almost one-third of the total debt fell on the wholesale and retail trade sector, where the average amount of debt was 2,648 euros. 

The field of activity with the highest credit risk is the accommodation and catering sector, where approximately a quarter of businesses (24.6%) are companies with high credit risk. It is followed by the construction sector (17.5%) and water supply, drainage and waste management sector (16%). 

The statistics is prepared on the basis of data on 63 616 active Estonian businesses. 

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