Q4 2023: Bankruptcies slightly up, registrations stable

In the fourth quarter of 2023, the number of bankruptcy declarations of EU businesses increased slightly by 0.6% compared with the previous quarter. The number of bankruptcy declarations at the end of 2023 were above the pre-pandemic period levels recorded between 2016 and 2019.

For a fourth quarter in a row, business registrations were up, albeit slightly (0.1% increase in the last quarter of 2023). Generally, the number of business registrations in the last three quarters of 2023 was higher than in the 2015-2022 period. 

This article presents a handful of findings from the more detailed Statistics Explained article. 

Source dataset: sts_rb_q

Business registrations remain stable

Although the overall number of registrations remains stable, there are differences (increases or decreases) across the sectors of the economy. Looking specifically at registrations of businesses by activity, when compared with the previous quarter, in the fourth quarter of 2023, registrations saw the highest increases in the sectors: transport and storage (+5.6%), construction (+3.6%), and accommodation and food services (+3.5%).

The largest decreases were in information and communication (-2.1%), financial, insurance and real estate activities (-1.5%), and trade (-0.9%).

Bankruptcies increased slightly

The overall number of bankruptcy declarations increased, while there are differences (increases and decreases) observed across the sectors of the economy. Looking specifically at bankruptcies by activity, when compared with the previous quarter, in the fourth quarter of 2023, bankruptcies increased the most in the transportation and storage sector (+9.3%), followed by trade (+7.7%) and accommodation and food services (+1.1%).

Source dataset: sts_rb_q

The largest decreases were in information and communication (-15.0%), industry (-7.4%), and education, health, and social activities (-5.4%).

Source dataset: sts_rb_q