site.btaNational Statistical Institute: New Business Registrations Up 4.8%, Bankruptcies Surge 19.2% in Q4 2024

In the fourth quarter of 2024, the newly registered legal entities in the country are 11,143, and those declared bankrupt are 1,165. Compared to the same quarter of 2023, the total number of newly registered legal entities increased by 4.8%, and that of bankruptcies by 19.2%, the National Statistical Institute (NSI) said here on Friday.

During the same period in 2023, the newly registered legal entities numbered 10,633, while the number of those that declared bankruptcy was 977. Compared to the same quarter of 2022, the total number of newly registered legal entities decreased by 2.4 percent, and the number of those that declared bankruptcy decreased by 14.9 percent, the NSI report shows.

Compared to the third quarter of 2024, the number of newly registered legal entities increased by 4.7%, and the number of those that declared bankruptcy increased by 31.9%.

The NSI report also says that in the fourth quarter of 2024, compared to the fourth quarter of 2023, newly registered legal entities increased by 8.2%, while those that declared bankruptcy increased by 17.8%. 

The distribution by economic sectors shows that the relative share of newly registered legal entities is the largest in sector G ‘Trade; car and motorcycle repair’ - 86.3% and 89.2% of all newly registered units in the fourth quarter of 2024.

The situation in the fourth quarter of 2023 was similar, but the shares were 88,4% and 76.7% respectively, the NSI report shows.