The risk in India, South Korea, Hong Kong, Pakistan, Indonesia, United Arab Emirates, Malaysia, Sri Lanka, and Thailand all increased significantly year-on-year.

Among them, Sri Lanka, Pakistan, India, United Arab Emirates, South Korea, Indonesia, and other countries (regions) have particularly significant risk levels.

India

India’s reported losses have surged, both in terms of the amount of reported losses or the number of losses reported, which are the highest in Asia.

India’s current main economic and trade direction is to develop domestic industries, engaging in “Make in India”, so constantly set up various trade barriers.

In the past two years, the Indian government has imposed tariffs on more than 400 products, ranging from agricultural products to mobile phone components to industrial products such as solar panels.

Bangladesh

Not long ago, the Economic and Commercial Counsellor’s Office in Bangladesh issued a number of major risk warnings for credit letter. The Farmers Bank Limited (now renamed Padma Bank) has occurred frequent letters of credit default since last year. The vicious incident has caused huge losses to Chinese companies in the international trade of Bangladesh.

Indonesia

Last year, the Indonesian rupiah fell and depreciated sharply at the beginning of this year. Buyers experienced a habitual default in the case of currency depreciation. In addition, the Indonesian election has also added external uncertainty.

The number of cases and the amount of damages in countries such as Nigeria, Morocco, Tunisia, South Africa, and Ethiopia increased significantly year-on-year.

Among them, Ethiopia, Kenya, Tunisia, and Morocco have particularly significant risk levels.

Nigeria

As a foreign exchange control country, Nigeria has always had the situation that importers can’t buy dollars. Often there are Nigerian guests who say they have to delay payment because they cannot purchase foreign exchange, or the agency operation fee is particularly high.

What’s more, the Central Bank of Nigeria announced a ban on textile import settlement on March 5, with the intention of revitalizing the Nigerian textile industry, cotton and garment industry, thereby increasing the number of employment opportunities in Nigeria and solving the social and economic problems in Nigeria.

The number of cases and the amount of reported losses in Turkey, Russia, the United Kingdom, Spain, the Netherlands, Romania, and other countries (regions) increased significantly year-on-year.

Among them, Sweden, Turkey, and Russia have particularly significant risk levels.

From the number of cases and the amount of damage reported, Argentina, Colombia, Mexico, Brazil and Peru are among the top five in Latin America. Among them, the number of cases and the amount of damages in countries such as Argentina, Colombia, Peru, and Chile showed a large increase compared with the same period of last year.

Among them, Argentina, Colombia, and Paraguay have particularly significant risk levels.

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Ref: 船务资讯