MEDIUM RISK for enterprise
Economic risk
Business environment risk
Political risk
Commercial risk
Financing risk
Economic risk
Business environment risk
Political risk
Commercial risk
Financing risk
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GDP | USD2825.21 bn (World ranking 5, World Bank 2018) |
Population | 66.49mn (World ranking 22, World Bank 2018) |
Form of state | Constitutional Monarchy |
Head of government | Boris Johnson (Conservative Party) |
Next elections | 2024, legislative |
(% of total)
Exports | Rank | Imports |
---|---|---|
United States
14%
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1 |
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Germany
10%
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2 |
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France
6%
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3 |
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Netherlands
6%
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4 |
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Ireland
5%
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5 |
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(% of total)
Exports | Rank | Imports |
---|---|---|
Cars
12%
|
1 |
9%
Non-Monetary Gold
|
Pharmaceutical
7%
|
2 |
9%
Cars
|
Aeronautics
7%
|
3 |
5%
Pharmaceutical
|
Engines
4%
|
4 |
3%
Aeronautics
|
Non-Monetary Gold
4%
|
5 |
3%
Telecommunications Equipment
|
Low
Medium
Sensitive
High
Payments
Court proceedings
Insolvency proceedings
Payments
Court proceedings
Insolvency proceedings
UK courts are efficient in delivering timely decisions, but recent changes in charges mean it can be expensive for large value debts. Timely escalation from credit control to skilled external debt collection agencies remains effective.
The insolvency framework is oriented towards the protection of creditors’ rights, although an emphasis has been made on the need to rescue viable businesses. Such proceedings would not guarantee that the debt would be recovered as in practice there are no limitations as to how much of the debt may be written off during renegotiations. Furthermore, liquidation proceedings would rarely yield any proceeds to unsecured creditors.
Contact Euler Hermes
Economic Research Team
research@eulerhermes.com
Contact Ana Boata
Senior Economist for Europe
ana.boata@eulerhermes.com