Amsterdam, The Netherlands; 19 May 2025 – In 2024, the global factoring industry maintained a stable performance, with results revealing a total turnover of €3,894 billion, compared to €3,791 billion in 2023. This represents an increase of 2.7%, indicating consolidation after three years of strong post-pandemic recovery. At a 2.7% increase, factoring continues to outpace global product sales volumes that saw a 1% increase in 2024.
The modest increase in the factoring market underscores its stability amid a year marked by significant global challenges, including geopolitical conflicts, high interest rates, and persistent inflation. While many sectors faced volatility, factoring continued to provide essential liquidity and risk mitigation for businesses worldwide, particularly SMEs navigating uncertain economic conditions.
Over the past two decades, factoring has demonstrated consistent growth, with a compounded annual growth rate of 7.8%. Its role in supporting open account trade and providing working capital solutions has become increasingly vital, especially during periods of economic uncertainty.
Europe
Europe retained its position as the dominant market, accounting for approximately €2,600 billion in 2024, or 66.7% of global turnover. The region experienced modest growth of 1.8% over 2023. Some markets experienced robust growth, such as Moldova (+122%), North Macedonia (+63%), Georgia (+51%), Türkiye (+36%), and Latvia (+25%), reflecting increased adoption of receivables finance and a rebound in economic activity. Conversely, others, such as Ukraine and the Netherlands, saw minor contractions, indicating ongoing post-pandemic market settling or ongoing conflicts.
Asia Pacific
Asia-Pacific accounted for €964 billion, representing 24.8% of the global total. The region grew by 2.4%, reinforcing its position as the second-largest market after Europe. China remains the global leader by individual country, recording €679 billion in turnover. Other key markets include Japan, India, Singapore, and Hong Kong, with mixed results reflecting regional economic variation.
Americas
The Americas collectively contributed €271 billion, marking a significant 14,5% year-on-year increase. South and Central America saw continued expansion with an increase of 5.8%, supported by growing demand in countries like Brazil, Chile, and Mexico. North America rebounded strongly after previous declines, seeing a 28% increase, with the US and Canada posting improved performances.
Africa
Africa’s market reached €50 billion, showing a healthy growth rate of 5.9% over 2023. South Africa continues to lead the continent, alongside emerging activity in Nigeria, Egypt, and Morocco.
Middle East
The Middle East recorded €8 billion, representing a -13.9% decline from 2023. This contraction is partly attributed to ongoing geopolitical tensions in the region, with some countries seeing a significant drop in factoring volume. Broader economic uncertainty also contributed to the subdued performance.
Neal Harm, Secretary General of FCI, remarked: “The 2024 statistics reinforce factoring’s role as a resilient and indispensable financial tool for companies worldwide. Even amidst a year of uncertainty, factoring’s growth compared to the industries that it finances shows a clear sign of its critical function in facilitating open account trade. FCI remains committed to innovation, education, and advocacy to further empower the global trade finance ecosystem.”
FCI thanks all members and partners who contributed to this year’s data and continue to support the transparent growth of the global receivables finance industry.