8% More Insolvencies, 21% More Suspensions and 15% More Company Deletions or Dissolutions Compared to 2021

Constantin Macri 03/02/2023 | 10:13

The number of insolvencies increased by 8%, there were 21% more suspensions, and 15% more company deletions or dissolutions in 2022 when compared to the previous year. However, the number of start-ups reached a record high in 2022.


The inflation, the slowdown of European economies and a possible non-compliance with the National Recovery and Resilience Plan (PNRR) represent the main macroeconomic risks in 2023, according to the latest edition of the KeysFin Macro Update report.

In the baseline scenario, our estimate is that the economy will grow by around 3% in 2023, with the main macroeconomic risks this year being: the way the second-round inflationary effects of rising commodity prices and increasing borrowing costs will be managed (both from a fiscal and a monetary point of view), the slowdown of the European economies, but also a possible non-compliance with the PNRR milestones, on which the avoidance of recession and the correction of the twin deficits depends“, said Diana Florescu KeysFin economic analyst, one of the most important providers of business information solutions in Romania.


Entity registrations exceeded 150 thousand for the first time in history, at 152,809 start-ups in 2022, 3% more than in 2021 and 13.8% above the pre-pandemic level of 134,220 reached in 2019 , according to the latest data, published today by the Trade Register.


If in 2021 Agriculture, Energy&gas and IT&C registered the highest percentage increases in the number of newly established entities, in 2022 we had the Mining&Quarrying in first place, the Energy&gas sector remained in second place and Education climbed to third place, with increases of 551%, 170% and respectively 47% to 722 companies, 1,601 and 5,531 start-ups in 2022“, said Diana Florescu, KeysFin economic analyst.

On the other hand, Hotels&Restaurants, Real Estate, Constructions, Trade and Agriculture registered annual percentage decreases ranging from 1.1% to 73% in 2022.

From a geographical point of view, the most entities established in 2022 were registered in Bucharest (29,068, meaning 19% of the total), Cluj (9,199, meaning 6% of the total) and Ilfov (7,933 companies, with 5% of the total in 2022) ). At the other end, Covasna, Ialomita and Tulcea had the fewest new registered entities, between 954 and 1,111 entities in 2022.

The number of companies that entered insolvency increased by 8.2% to 6,649 companies in 2022, 16.8% above the historical minimum reached in 2020, of 5,694 companies, according to data from the Trade Register.

The number of suspended companies increased by 20.6% compared to 2021, to 15,700 companies. Deletions and dissolutions increased by 14.6% in 2022 compared to 2021, at 112,959 companies, but remained 17% below the pre-pandemic level reached in 2019.


The number of active entities (PFA=registered sole traders and legal entities) continued the growth trend started in 2011 and reached the highest level in history, at 1,606,310 as of December 31st, 2022.

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