GITNUX MARKETDATA REPORT 2024

Must-Know Insolvency Statistics [Recent Analysis]

With sources from: insolvencynewsonline.com.au, graydon.be, cbs.nl, serasaexperian.com.br and many more

In this post, we will examine the latest insolvency statistics from around the world, highlighting significant trends and changes that have occurred in different countries. From the substantial decrease in insolvencies globally in 2020 to the specific percentage drops in various regions, these statistics provide valuable insights into the economic impact of the COVID-19 pandemic and government interventions on insolvency trends.

Statistic 1

"In 2020, insolvencies globally decreased by 14%, largely due to government support measures during the COVID-19 pandemic."

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Statistic 2

"In the US, total bankruptcy filings in 2020 were down by 29.7% compared to 2019."

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Statistic 3

"In the UK, 11,769 insolvency applications were made in 2020, a 34% decrease from 2019."

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Statistic 4

"In Germany, insolvencies fell by 15.5% in 2020 compared to the previous year."

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Statistic 5

"In Australia, corporate insolvencies dropped by roughly 60% in 2020 compared to the previous year."

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Statistic 6

"In Canada, business insolvencies decreased by 27.8% in 2020 compared to 2019."

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Statistic 7

"In Spain, there was a 17.2% decrease in the number of declared insolvencies in 2020 compared to the previous year."

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Statistic 8

"In Brazil, corporate insolvencies declined by about 1.1% in 2020 from the previous year."

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Statistic 9

"In India, 77% of corporate insolvency resolution processes (CIRPs) initiated during the period 2016-2020 remained pending."

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Statistic 10

"In South Africa, the number of insolvencies in November 2020 increased by 1.3% compared to the previous year."

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Statistic 11

"In Russia, the number of legal entities declared bankrupt in 2020 decreased by 24.6% compared to the previous year."

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Statistic 12

"In the Netherlands, 2,758 companies filed for bankruptcy in 2020, which is 16% fewer than in 2019."

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Statistic 13

"In Japan, the number of corporate bankruptcies dropped by 23% in 2020 as compared to the previous year."

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Statistic 14

"In Belgium, there were 5,812 insolvent companies in 2020, a decrease of 30.6% compared to 2019."

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Statistic 15

"In Ireland, there were 573 recorded company insolvencies in 2020, which is a 29% decrease compared to the previous year."

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Interpretation

The data from various countries around the world present a consistent trend of decreased insolvency rates in 2020 compared to the previous year, largely attributed to government support measures implemented in response to the COVID-19 pandemic. These statistics highlight the significant impact of external factors on financial stability and the effectiveness of intervention strategies in mitigating insolvency risks. While there are variations in the magnitudes of decline across different countries, the overall pattern suggests a general resilience in business solvency amidst challenging economic conditions.

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