The time it takes to resolve business insolvencies has been gradually decreasing over the last two decades, with the global average time to resolution sitting at 2.47 years in 2019. This compares to an average of 2.77 years in 2003.
Average time to resolve business insolvencies worldwide from 2003 to 2019 (in years)
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World Bank. (April 9, 2020). Average time to resolve business insolvencies worldwide from 2003 to 2019 (in years) [Graph]. In Statista. Retrieved May 23, 2022, from https://www.statista.com/statistics/1116458/business-insolvencies-time-resolve-worldwide/
World Bank. "Average time to resolve business insolvencies worldwide from 2003 to 2019 (in years)." Chart. April 9, 2020. Statista. Accessed May 23, 2022. https://www.statista.com/statistics/1116458/business-insolvencies-time-resolve-worldwide/
World Bank. (2020). Average time to resolve business insolvencies worldwide from 2003 to 2019 (in years). Statista. Statista Inc.. Accessed: May 23, 2022. https://www.statista.com/statistics/1116458/business-insolvencies-time-resolve-worldwide/
World Bank. "Average Time to Resolve Business Insolvencies Worldwide from 2003 to 2019 (in Years)." Statista, Statista Inc., 9 Apr 2020, https://www.statista.com/statistics/1116458/business-insolvencies-time-resolve-worldwide/
World Bank, Average time to resolve business insolvencies worldwide from 2003 to 2019 (in years) Statista, https://www.statista.com/statistics/1116458/business-insolvencies-time-resolve-worldwide/ (last visited May 23, 2022)