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 were estimated to increase 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. Accordingly, business insolvencies actually decreased during the financial crash, however they began to trend upwards in the second half of the 2010s, reaching a peak year-on-year growth rate of 41 percent in 2018.
Year-on-year growth in global business insolvencies from 2008 to 2019, by region
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Euler Hermes. (January 9, 2020). Year-on-year growth in global business insolvencies from 2008 to 2019, by region [Graph]. In Statista. Retrieved January 20, 2021, from https://www.statista.com/statistics/1116418/annual-growth-business-insolvencies-region/
Euler Hermes. "Year-on-year growth in global business insolvencies from 2008 to 2019, by region." Chart. January 9, 2020. Statista. Accessed January 20, 2021. https://www.statista.com/statistics/1116418/annual-growth-business-insolvencies-region/
Euler Hermes. (2020). Year-on-year growth in global business insolvencies from 2008 to 2019, by region. Statista. Statista Inc.. Accessed: January 20, 2021. https://www.statista.com/statistics/1116418/annual-growth-business-insolvencies-region/
Euler Hermes. "Year-on-year Growth in Global Business Insolvencies from 2008 to 2019, by Region." Statista, Statista Inc., 9 Jan 2020, https://www.statista.com/statistics/1116418/annual-growth-business-insolvencies-region/
Euler Hermes, Year-on-year growth in global business insolvencies from 2008 to 2019, by region Statista, https://www.statista.com/statistics/1116418/annual-growth-business-insolvencies-region/ (last visited January 20, 2021)