The number of bankruptcy declarations by EU businesses fell by 0.8% in the first quarter of 2024, compared with the previous period (Q4 2023), data from Eurostat has found.
On a sector basis, in the first quarter of the year, bankruptcies decreased in two sectors, trade (-3.3%) and construction (-1.2%), however increases were observed in sectors such as the transportation and storage sector (+15.2%), and industry (+9.1%).
High rate of bankruptcies
According to Eurostat estimates, Hungary reported the highest number of bankruptcy declarations in the first quarter of the year, of 426.2, ahead of France (232.8), the Netherlands (202.6) and Austria (186.3).
In Germany, some 133.4 bankruptcy declarations were announced in the quarter, in Spain the number was 110.9 and in Italy, 92.6 bankruptcy declarations were announced. Data for Ireland was not available.
Business registrations
Elsewhere, business registrations rose by 1.6% on a quarter-on-quarter basis, Eurostat’s data showed.
The highest increase in business registrations in the quarter (compared to Q3 2023) were seen in education, health and social activities (+5.2%), transportation and construction (+4.1%) and accommodation and food services (+3.7%), according to Eurostat.
Bankruptcy declarations by EU country, Q1 2024 (estimated figures)
| Country | Bankruptcy Declarations |
|---|---|
| Hungary | 426.2 |
| France | 232.8 |
| Netherlands | 202.6 |
| Austria | 186.3 |
| Belgium | 162.7 |
| Finland | 147.7 |
| Sweden | 143.7 |
| Estonia | 133.5 |
| Germany | 133.4 |
| Greece | 133.3 |
| Lithuania | 124.6 |
| Spain | 110.9 |
| Portugal | 104.6 |
| Croatia | 103.0 |
| Poland | 102.9 |
| Czechia | 99.7 |
| Slovakia | 94.7 |
| Italy | 92.6 |
| Bulgaria | 92.3 |
| Denmark | 87.9 |
| Luxembourg | 82.1 |
| Slovenia | 80.8 |
| Latvia | 76.0 |
| Malta | 75.0 |
| Romania | 33.1 |
| Cyprus | 13.3 |
| Ireland | Data Not Available |
