Eurostat: Business bankruptcies in EU in Q4 2022 highest since 2015
The number of bankruptcy declarations among businesses in the European Union increased substantially in the fourth quarter of 2022, at 26.8 per cent compared with the previous quarter, and reached the highest levels since the start of the data collection in 2015, EU statistics agency Eurostat said on February 17.
The number of bankruptcy declarations increased during all four quarters of 2022, Eurostat said.
When it comes to registrations of new businesses, these decreased slightly by 0.2 per cent in the fourth quarter of 2022 compared with the previous quarter.
Generally, in all four quarters of 2022, business registrations levels were higher than during the pre-Covid pandemic period 2015-2019.
This information comes from data on business registrations and bankruptcies published by Eurostat.
Since February 2023, for countries that transmit monthly information on voluntary basis, the Eurostat database also includes monthly data on business registrations and bankruptcies, the statistics agency said.
Looking specifically at bankruptcies by activity, all sectors registered increases in the number of bankruptcies in the fourth quarter of 2022 compared with the previous quarter, Eurostat said.
Transportation and storage ( an increase of 72.2 per cent), accommodation and food services (39.4 per cent), and education, health and social activities (29.5 per cent) were the activities with the highest increases in the number of bankruptcies in the fourth quarter of 2022 compared with the previous quarter, the agency said.
Compared with the pre-pandemic fourth quarter of 2019, the number of declarations of bankruptcies in the fourth quarter of 2022 was higher in the majority of sectors of the economy.
The largest increases in the number of bankruptcies, compared with the fourth quarter of 2019, were recorded in accommodation and food services (97.7 per cent) and transportation and storage (85.7 per cent).
The number of declarations of bankruptcies in the fourth quarter of 2022 compared with the pre-pandemic fourth quarter of 2019 was lower in only three sectors of the economy: industry (-17.6 per cent), construction (-9.2 per cent) and information and communication (-4 per cent), Eurostat said.
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