number of companies declared bankruptcy inside European Union (EU) increased 8.4% It is accumulating in the second quarter of 2023, up by six consecutive quarters from the previous three months, to reach the highest in the entire historical series stretching back to the first quarter of 2015, as reported by Eurostat.
“The number of bankruptcies increased by 8.4 percent compared to the previous quarter and therefore It reached its highest level since data collection began in 2015.confirmed by the community statistics office.
The number of companies that declared bankruptcy among Eurozone countries also increased in the second quarter compared to the previous three months. It finished seventh in a row, up 9%.
“Looking specifically at bankruptcies by activity, The number of bankruptcies increased in all sectors of the economy. Eurostat said in the second quarter of 2023 compared to the previous quarter.
Thus, sectors with a higher proportional increase in the number of bankruptcies accommodation and food services (23.9%), transportation and storage (+15.2%) and education, health and social activities (+10.1%).
Compared to the fourth quarter of 2019 before the pandemic, the number of bankruptcy filings in the second quarter of 2023 was higher in most sectors of the economy, with the most significant increases observed. accommodation and food services (82.5%) and transportation and storage (+56.7%).
By contrast, in the second quarter of 2023, there were only two sectors of the economy where the number of bankruptcy filings was lower than in the pre-pandemic fourth quarter of 2019: industry (-11.5%) and construction (-2.7%).
Among the EU countries, the number of companies that declared bankruptcy between April and June increased the most every three months. Hungary (+40.8%); Latvia (+24.8%) and Estonia (+24.6%), the biggest decreases corresponded to Cyprus (-48.5%); Croatia (-23.6%) and Denmark (-15.9%).
In the case of Spain, the number of bankruptcies increased by 19.9% in the second quarter Compared to the previous three months, it fell 2.1%. This is the largest quarterly increase since the first quarter of 2022.
On the other hand, Eurostat also reported the number of companies registered in the EU in the second quarter of 2023. decreased by 0.6% compared to the previous three months, when it increases by 2%. As for the euro area, data grew by 1.1% between April and June, compared to a 2.1% increase in the previous quarter.
According to Eurostat records, Ireland is the fastest growing country for registered companies (+50.9%) was ahead of Slovenia (+30.2%) and Germany (+9.6%), with the largest decreases observed in Poland (-11.3%); Bulgaria (-9.1%) and Denmark (-9%).
In the case of Spain, the number of companies registered in the second quarter decreased by 1.4%After increasing 7.9% in the first three months of 2023.