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Middle East

The Middle East with its estimated 339.6 million inhabitants divided among 15 countries is fraught with many clichés and myths. Before you do business in the Middle East, you must make inquiries about areas such as corporate culture, business etiquette, conference protocol and negotiation techniques. This can reduce stereotypes and barriers in communication.
Business in the Middle East is characterized by the great variety in the region. However, the great majority of the population is unified with one religion, language and culture.

Countries in the region:

  • Iran
  • Iraq
  • Israel
  • Yemen
  • Jordan
  • Kuwait
  • Lebanon
  • Oman
  • Qatar
  • Saudi Arabia
  • Syria
  • United Arab Emirates
  • North Africa

Economic output

Currently: www.tradingeconomics.com

Algeria, Libya, Djibouti, Morocco, Egypt, Arab Rep., Syrian Arab Republic, Iran, Islamic Rep., Tunisia, Iraq, West Bank and Gaza, Jordan, Yemen Rep., Lebanon
(Source: The World Bank 2012)

GDP: 1.54 trillion USD
GNI per capita: approx. 3,453 USD
Main import partners: China, European Union, USA, Russia
Main export partners: European Union, USA, China, Russia

"B2B" bankruptcy distribution

Average rate: 33%
Average process duration: 3.4 years
Average costs of insolvency proceedings: 14% of the insolvency value.

News

China's Credit Growth

China’s broadest gauge of new credit trailed projections amid renewed government pledges to tackle financial risk.
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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).
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Late payment Europe

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

1 € (EUR):
AUD 1.59830
CAD 1.55570
CNY 7.74490
GBP 0.87608
HKD 9.65680
INR 81.39000
JPY 132.41000
MYR 4.79240
MXN 22.74240
KRW 1316.26001
CHF 1.19700
THB 38.55200
USD 1.23090
22.04.2018 © EZB

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