Sea Eurostat Portugal led the European Union with a 7.6% increase in business creation compared to the first quarter, followed by Latvia with an increase of 5.6% and Romania with an increase of 2.2%.
Despite this positive development, the number of bankruptcies in the country rose again between April and June, exceeding the European average, confirming that there are still many companies struggling.
The number of bankruptcy filings in the European Union rose by 3.1% in the second quarter of the year compared to the first three months of 2024, according to the European statistics office. At the same time as the increase in bankruptcies, the number of newly registered companies fell by 2.1%.
“While the number of bankruptcies increased, the economic sectors behaved differently,” explains Eurostat, adding that bankruptcies increased in construction (3.8%), the financial sector (2.6%), trade (2.4%) and industry (1.6%). The information and communication (-4.8%), transport (-1.6%) and accommodation and food services (-1.1%) sectors recorded a decrease in bankruptcies.
In the European context, Greece led the way with a 133.4% increase in bankruptcies, followed by Lithuania and Slovakia with increases of 16.7% and 7.6% respectively. The largest decreases in bankruptcy filings were seen in Latvia (-21.4%), Sweden (-14.7%) and Luxembourg (-8.2%).
