Singapore tops Asia's trade credit league, Atradius says

More suppliers are dealing with late customer payments across the region.

Singapore recorded the highest share of credit-based business-to-business (B2B) sales in Asia, even as companies across the region face more late payments and rising bad debts, insurance firm Atradius said.

In its 2026 Asia Payment Practices Barometer report, the firm found that 51% of B2B sales in Singapore are made on credit, above the regional average of 43%, reflecting Singapore's role as a regional and global trade centre.

Across Asia, the remaining 57% of B2B sales are paid upfront, the report noted.

More than 80% of suppliers surveyed said they experienced late payments from B2B customers.

Overdue invoices made up nearly one-third of all B2B receivables, whilst customer cash flow problems were the most common reason for delays, cited by 46% of respondents.

Atradius also said bad debts have increased across the region, with credit losses typically accounting for between 1% and 5% of B2B receivables.

The report said this has reduced cash available for day-to-day operations, made cash flow harder to manage and limited investment.

To reduce payment risk, most businesses said they rely on internal credit checks, payment monitoring and debt collection.

Many also ask for upfront payment, whilst nearly one-third use credit insurance.

Looking ahead, the report found businesses are divided on the outlook for customer payments over the next 12 months, with similar shares expecting conditions to improve or worsen.

Singapore companies were also split on the outlook for insolvencies, reflecting the regional picture.

Across Asia, inflation and cost pressures, economic slowdown and geopolitical instability were identified as the top risks likely to affect B2B payments over the coming year.

The survey was conducted during the second half of the second quarter of 2026 amongst 2,145 businesses across China, Hong Kong, India, Indonesia, Japan, Singapore, Taiwan, and Vietnam.

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