应收账款：在碎片化格局中破解回款难题.docxVIP

Tradereceivablesina

fragmentedworld:Navigating

CollectionComplexity

2

Content

5

ExecutiveSummary

9

Globaloverviewbycountryandregion

9

Globaloverviewbysourceofcomplexity

27January2026

Executive

Summary

PascalPersonne

HeadofGroupClaimsandCollections

pascal.personne@

MaximeLemerle

LeadanalystforInsolvencyResearch

maxime.lemerle@

PierreLebard

PublicAffairsManager

pierre.lebard@

VéroniqueWacogne

GroupCreditClaimsandCollectionsBusinessManager

veronique.wacogne@

VianneyCrété

GroupCreditClaimsandCollectionsBusinessAnalyst

vianney.crete@

UlugbekDjuraev

GroupCreditClaimsandCollectionsBusinessAnalyst

Ulugbek.djuraev@allianz-trade.dom

?Recoveringcommercialdebtcouldbecomeevenmoreofachallenge

asbusinessinsolvenciesremainhighinmostcountries1whileglobal

fragmentationrisesamidareconfigurationofthetradingsystem,

volatileprotectionism,geopoliticaluncertaintiesandhigherdigitalrisk.InthefourtheditionoftheAllianzTradeCollectionComplexityScoreandRating,weprovideasimpleassessmentofhoweasyitisforcompaniestorecovertheirduesin52economies2thatrepresent90%ofbothglobalGDPandglobaltrade.Thisyear’seditionincludessixneweconomies:Egypt,

Peru,Serbia,SouthKorea,TaiwanandVietnam.

?Consideringlocalpaymentpractices,courtproceedingsandinsolvencyframeworks,wefindthatGermany,theNetherlandsandPortugal

arethethreebestcountriestorecoverinternationaldebt,whileSaudiArabia,MexicoandtheUnitedArabEmiratesarelaggingbehind.

InternationaldebtcollectionisalmostthreetimesmorecomplexinSaudiArabiathaninGermany,butthelatterisnotwithoutcomplexitiesintermsofinternationalcollection.Globally,collectioncomplexitystandsat‘High’levelof47.2onour0-100scale.

?Inthepastfouryears,threeoutoffivecountriesinoursamplehave

seenachangeintheircollectioncomplexityscore,withanalmost

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