Business insolvencies: annual growth by region 2023

Following a sharp increase with the 2008-09 financial crash, the number of business insolvencies in North America declined each year from 2010 to 2019, when they increased by three percent. This trend contrasts with the Asia Pacific region, where countries such as Australia and China did not enter a recession in 2009. Perhaps somewhat surprisingly, except for Eastern and Central Europe, the number of insolvencies fell in all regions in 2020, despite the COVID-19 pandemic. However, it is expected to increase in 2022 and 2023 in most regions as the rising inflation starts to have an impact on the financial situation of several businesses.

Year-on-year growth in global business insolvencies from 2008 to 2021, by region (with predictions for 2022 and 2023)

Characteristic	North America	Latin America	Western Europe	Central and Eastern Europe	Africa	Asia Pacific	Globally
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Release date

May 2022

More information

Region

Worldwide

Survey time period

2008 to 2022

Supplementary notes

* Values are forecast.
The source has calculated the values using on annual changes to their regional insolvency indexes, which uses a base year of 2000.

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