Study on the status of insolvencies in Romania for the first half of 2014
Coface’s analysis, based on the data provided by the National Trade Register Office, indicates that during the first semester of this year 12.453 new insolvencies were registered, down by 10% compared to the same period of 2013 when 13.855 new insolvencies were opened.
From the sector distribution point of view, Constructions, which consistently occupied a place within Top 10 for the last 5 years is now ranking the first place. Textiles, mining and quarrying industry, metallurgy and HORECA are still within Top 5 ranks by considering the number of insolvencies reported at 1,000 active companies. The top 10 sectors that registered the highest value for this indicator are listed in the chart below.
The geographical distribution of the insolvent enterprises has undergone several changes vs. the same period of last year. The number of insolvencies has increased though only in Bucharest and the Western region (+8%), while the rest of the regions have registered a decrease of this indicator with the most significant contractions registered in the South-Eastern (-23%) and the North-Eastern sides (-22%).
The improvement of the payment discipline, registered within the first trimester can also be seen in the first half of 2014, the figures indicating in terms of both value and number, a reduction of 30% of defaulted payment instruments. In the same time, the number of insolvent companies with a turnover above 1 MEUR dropped by 30%, signaling a rebound of a negative contagious effect over large companies.
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