“Between 2022 and 2023, 59.2% of invoices were paid on time, showing a slight increase to 61.8% last year. Only 0.4% of invoices are paid 90 or more days after the due date, a trend that has remained consistent over the past three years,” noted Kateřina Klosová, Chairwoman of the Board at the local Dun & Bradstreet branch. The comprehensive analysis evaluated over 500 million payment transactions between companies across five continents, including 26 European nations.Denmark leads the European rankings with an exceptional 94.2% of companies paying on time, followed by Poland at 87.5% and Russia at 81.3%.

Czech Republic’s payment performance closely mirrors that of neighboring Germany, where 61.6% of businesses honor their payment deadlines. However, Slovakia lags behind with only 55.6% of companies paying their invoices on time.

For businesses engaged in international trade, understanding payment behaviors across different countries is crucial. “Exporters should always factor in payment risk when dealing with foreign markets,” Klosová advised.With Czech companies maintaining strong payment discipline, the country continues to position itself as a reliable business partner in the European economic landscape.of companies paying on time, followed by Poland at 87.5% and Russia at 81.3%.

Created by the team of CzechTrade Shanghai

Source: CZECHDAILY.CZ