RO
The Romanian Factoring Association (ARF) announces the results of the factoring market for 2024, highlighting an 8% increase compared to the previous year, with total transaction volumes reaching approximately €9.4 billion. This growth reaffirms the essential role of factoring in supporting Romanian companies in an economic environment marked by challenges and volatility.
In 2024, Romania’s factoring market continued its significant growth, with its key segments maintaining a positive trajectory. Domestic factoring remains the dominant market segment, accounting for 88% of all factored receivables, with a 7.6% increase, reaching over €8.2 billion. Within this segment, non-recourse domestic factoring led the market, representing 90% of the total, with a volume of €7.43 billion—a 7.3% rise compared to 2023. Additionally, reverse factoring maintained its upward trend of recent years, reaching €3.37 billion.
Regarding international factoring, export and import transactions exceeded €1.13 billion, registering an increase of over 11%. Export factoring totaled €976 million (+10% vs. 2023), while import factoring amounted to €158 million (+16% vs. 2023), with significant volatility in this sector, mainly due to the high share of the Metals, Chemicals, Water, and Recycling industries. Debt collection services, both domestic and international, performed exceptionally well, reaching €190 million—a 35% increase from 2023.
Key Economic Sectors and Regional Developments
The Romanian factoring market continued to be driven by key industries. The FMCG (Fast-Moving Consumer Goods) sector remained the most significant, accounting for 16.3% of the total factoring market, with a volume of €1.43 billion—an increase of 1.5% from 2023. Other services, including advertising, security, and architecture, represented 16% of the total market, experiencing a substantial 40% growth compared to the previous year. The Metals, Chemicals, Water, and Recycling sector remained dominant in export factoring, accounting for 58% (€562 million) of factored export receivables and 61% (€97 million) of factored import receivables, driven by increased demand for raw materials and sustainability initiatives.
The Automotive, Machinery, and Equipment sector recorded a total factoring volume of €1.2 billion, representing 12.7% of the market, with a significant share in exports (20%). The Forestry, Wood Processing, and Construction sector benefited from infrastructure investments, reaching €952 million, marking a 25% increase from 2023.
Regional Growth Trends
From a regional perspective, Bucharest-Ilfov remained the strongest economic area, with €4.56 billion, accounting for 50% of the total market and growing by 7.6% compared to 2023. The South-Muntenia region (AG, CL, DB, GR, IL, PH, TR) ranked second, registering €992 million, a 12% increase, driven by the expansion of the automotive and logistics industries. The North-West region (BH, BN, CJ, MM, SM, SJ) ranked third in total volumes, achieving €988 million, a remarkable 24% increase, due to accelerated economic development in the area.
These developments highlight the dynamism of Romania’s factoring market, which continues to support expanding economic sectors and adapt to international market demands.
Economic Outlook for 2025
“In an economic climate characterized by moderate growth (+0.9% GDP in 2024, amid a global slowdown and reduced external demand), high inflation (impacting financing costs and prompting companies to seek flexible working capital solutions), and external market volatility, the growth of Romania’s factoring market in 2024 demonstrates the industry’s resilience and adaptability. Factoring continues to play a crucial role in supporting Romanian businesses, providing them with quick access to liquidity and effective risk management solutions,” stated Bogdan Roșu, President of ARF.
“For 2025, the Romanian Factoring Association anticipates continued market growth, supported by a stabilizing economy and increasing demand for flexible financing solutions among SMEs and corporations. However, fiscal policies, geopolitical conflicts in the region, the positioning of the new U.S. administration on these issues, and Germany’s economic performance—Romania’s main trading partner—could pose challenges to economic stability. Despite these uncertainties, we remain optimistic, knowing that historically, factoring has proven to be an essential solution in times of uncertainty and instability,” concluded Bogdan Roșu.
About the Romanian Factoring Association (ARF)
The ARF is Romania’s leading organization promoting factoring as a financing solution for businesses. Through collaboration with its members, ARF supports the development of the factoring market and the implementation of best industry practices.
The 2024 Factoring Market Study was conducted by IPSOS Romania in compliance with the ICC/ESOMAR International Code of Market and Social Research. Participants included ARF members such as Access Financial Services IFN, Banca Comercială Română S.A., BRD – Groupe Société Générale S.A., Banca Transilvania S.A., Eximbank, IFN Next Capital Finance S.A., ING Bank Romania S.A., Intesa Sanpaolo Bank, OTP Bank, Patria Bank, Raiffeisen Bank S.A., UniCredit Bank S.A., as well as other non-member financial institutions.