Number of insolvencies increases by 12% y/y in Romania in Jan-May

The number of insolvencies in Romania increased by 12% y/y to 3,686 in Jan-May, according to the National Trade Registry (ONRC). Most of the insolvencies were in retail (1,130), followed by constructions (585) and manufacturing (284). Still, the most significant increase in number of insolvencies was in real estate (up by nearly 96% y/y). The number of insolvencies dropped significantly in mining (45%) and financial intermediation and insurance (24%). Meanwhile, the number of newly registered companies in Romania dropped by 3.7% y/y to 61,017 in Jan-May. The highest number of startups was in agriculture (21% of the total), followed closely by retail (19%). The number of newly set-up firms decreased in almost all fields except for agriculture, mining, transport and real estate. However, the latter two reported some insignificant rises. editor@romania-insider.com