Annual Factoring Data
Factoring turnover in Europe
The total turnover for the factoring and commercial finance industry across the Europe in 2023 reached 2 trillion 44 billion euro. EUF Members represented 94.7% of the turnover in the Europe with the top five countries making up nearly 71.3% of the total market. The factoring industry turnover represented 12% of Europe GDP in 2023.
Total Factoring Volume in Europe in 2023
NB The year on year growth for non Euro countries may be affected by changes in exchange rates.
Source: EU National Associations and FCI statistics.
Factoring evolution 2007-2023 (in Millions of €)
Turnover volumes by country in 2023 (Millions of €)
| 31 December 2023 | Notes | Total Turnover | pct var. on the previous year (Total) | GDP Penetration | European Market Share | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Austria* | 36,463 | 1.6% | 7% | 1,5% | ||||||
| Belgium* | 135,734 | 9.3% | 23.2% | 5.6% | ||||||
| Bulgaria | (1)/(2) | 6,885 | 5.9% | 7,7% | 0.3% | |||||
| Croatia* | (1) | 1,401 | 2.6% | 1.8% | 0.1% | |||||
| Cyprus | (2) | 4,775 | 32.6% | 16.0% | 0.2% | |||||
| Czech Rep* | (1) | 11,668 | 0.9% | 3.9% | 0.5% | |||||
| Denmark* | (1) | 19,494 | -23.6% | 5.2% | 0.8% | |||||
| Estonia | (3) | 3,900 | 0.0% | 10.3% | 0.2% | |||||
| Finland | (3) | 28,000 | 0.0% | 10.1% | 1.1% | |||||
| France* | 426,588 | 1.2% | 15.2% | 17.5% | ||||||
| Germany* | 384,444 | 3.1% | 9.3% | 15.7% | ||||||
| Greece* | 24,690 | 5.0% | 12.7% | 1.0% | ||||||
| Hungary | (1)/(2) | 13,824 | 14.8% | 7.0% | 0.6% | |||||
| Ireland | (3) | 28,617 | 0.0% | 5.7% | 1.2% | |||||
| Italy* | 298,678 | 0.9% | 14.3% | 12.2% | ||||||
| Latvia | (2) | 802 | -12.8% | 2.0% | 0.0% | |||||
| Lithuania | (2) | 5,100 | -7.3% | 7.1% | 0.2% | |||||
| Luxemburg | (3) | 339 | 0.0% | 0.4% | 0.0% | |||||
| Malta | (3) | 696 | 0.0% | 3.6% | 0.0% | |||||
| Netherlands* | 168,528 | 3.0% | 16.3% | 6.9% | ||||||
| Poland* | (1) | 103,489 | -2.3% | 13.8% | 4.2% | |||||
| Portugal* | 44,193 | 5.0% | 16.6% | 1.8% | ||||||
| Romania | (1)/(2) | 8,660 | 10.4% | 2.7% | 0.4% | |||||
| Slovakia | (3) | 2,914 | 0.0% | 2.4% | 0.1% | |||||
| Slovenia | (2) | 2,500 | 14.2% | 4.0% | 0.1% | |||||
| Spain* | 270,393 | 6.0% | 18.5% | 11.1% | ||||||
| Sweden | (3) | 21,473 | 0.0% | 3.9% | 0.9% | |||||
| EU Total Turnover | (1)/(2)/(3) | 2,054,248 | 2.4% | 12,6% | 83,8% | |||||
| EUF Members (*) | (1) | 1,925,763 | 2.3% | 13.3% | 78.8% | |||||
| Norway * | (1) | 26,173 | -3.5% | 5.8% | 1.1% | |||||
| Switzerland | (3) | 593 | 0.0% | 0.1% | 0.0% | |||||
| United Kingdom* | (1) | 363,182 | 0.7% | 11.7% | 14.9% | |||||
| European Countries | (1)/(2)/(3) | 2,444,195 | 2.1% | 12,3% | 100,0% | |||||
| EUF Members or Partners (*) | (1) | 2,315,117 | 2.0% | 13,9% | 94.7% | |||||
** on the basis of data provided by members and/or Eurostat
Notes:
- Pct variation has been corrected in order to avoid biases due to exchange rates fluctuation.
- Estimates on the basis of available information
- Estimates of the turnover - the previous year's turnover implemented
Source: EUF Members, FCI, Eurostat, ONS (GDP values in current market prices)