Credit conditions in Australia deteriorated last year, a study by global credit insurer Coface says.

About 83% of companies in the country reported overdue payments, according to the Asia-Pacific Payment Survey, conducted in the fourth quarter.

Across the Asia-Pacific region 67% of businesses saw overdue payment rise 2% from 2011.

Among the companies reporting late payments, 43% say amounts were higher than in the previous year, up from 29% that saw an increase in 2011.

This trend is “quite alarming”, Coface says. “In our experience, companies with more than 2% of long-overdue accounts against turnover could have liquidity problems and have a high risk of non-payment to their suppliers.”

In Australia the high dollar has made goods more expensive to sell at home and abroad, while some large business failures have had a “wide domino effect” on non-payment.

Coface also saw more payment incidents in Australia last year, Asia-Pacific CEO Richard Burton says.

China and India recorded a rise in non-payments, with high-risk sectors including building and construction; IT; internet service provision and data processing; textiles, clothing and shoes; and household electric and electronic appliances.

Companies in Asia-Pacific are also less optimistic about the recovery of the global economy this year, the survey reveals.