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European Region (East)

Eastern Europe

Eastern Europe is used as a general term for the eastern part of Europe. There is no standard definition of the term "Eastern Europe". It depends whether it is to be designated in a geographic, political, historical or economic sense.

The United Nations classifies the following countries to Eastern Europe:

  • Bulgaria
  • Moldova
  • Poland
  • Romania
  • Russia
  • Slovakia
  • Czech Republic
  • Ukraine
  • Hungary
  • Belarus

Russia is the biggest country in this region both with respect to population and economy.

Economic output of Russia

Currently: www.tradingeconomics.com
(Source: The World Bank 2012)

GDP: 2.015 trillion USD
GNI per capita: 12,700 USD
Main import partners: Germany, China, Ukraine, Italy, Belarus
Main export partners: Germany, Netherlands, USA, China, Turkey

"B2B" bankruptcy distribution

Average rate: 35%
Average process duration: 2,7 years
Average costs of insolvency proceedings: 13% of the insolvency value.



White Paper on the requirements of the GDPR

How will the GDPR influence debt collection? Will collection companies still be allowed to collect and process personal data? - Yes! That is the conclusion of a new White Paper, recently published by the German Association of Debt Collection Companies (BDIU).

Late payment Europe

Under EU law, whenever business' clients pay their invoices late, late payment interest can be claimed.

Collection Practice per Country

How complex is collecting debt around the world? Euler Hermes collection practices map

Exchange Rates

1 € (EUR):
AUD 1.53020
CAD 1.52460
CNY 7.84810
GBP 0.88365
HKD 9.58140
INR 78.23900
JPY 135.53999
MYR 4.82600
MXN 22.81570
KRW 1306.92004
CHF 1.17580
THB 39.06900
USD 1.22550
20.01.2018 © EZB

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