2023-05-11 16:23:17
Vienna. The Austrian Statistical Institute reported that company bankruptcies increased by a quarter compared to the first quarter of 2022, with 1,320 corporate bankruptcies in the first quarter of 2023. According to the latest data, this also represents an increase of around 18 percent compared to the pre-pandemic January-March 2020 period.
On the other hand, it was noted that the service, trade and construction sectors were most affected by bankruptcies, while a significant decrease was experienced in new business registrations. Tobias Thomas, Managing Director of Statistik Austria, “The number of bankruptcies in Austria rose again at the beginning of 2023, after returning to pre-crisis levels during the previous year” said.
According to data published by Statistik Austria, the highest number of bankruptcies in the first three months occurred in financial services and other services (310), trade (240), construction (236), and accommodation and food services (181). Relatively few bankruptcies occurred in the information and communications (47) and manufacturing (80) sectors. At the same time, 16,374 new company registrations were recorded in the first quarter. It was recorded that this is about 6 percent less than in the first quarter of 2022 and about 7 percent less than in the same quarter before the pandemic began.
The highest number of registrations occurred in financial services and other services (4,595), personal services (3,937) and commerce (3,084) sectors, with very few registrations in transportation (619), information and communication (890) and accommodation and food services (948). reported. (yenivatan.at)
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