“The Romanian economy appears to be heading toward the end of the post-crisis growth cycle. From a high of 29.600 insolvencies reached in 2013, these dropped by 78% in 2019 and we estimate the number will stabilize around 6,000 insolvencies in 2020,” said Roxana Popescu, managing director of KeysFin, which provides business information solutions.
Romania registered 134,200 new companies in 2019 and 135,700 companies were dissolved. In the past decade, the number of new companies grew 16%, while the number of closed businesses grew 117.5%.
Out of the total number of active businesses, 9.9% were closed and nearly as many new ones opened, which analysts see as a sign that post-crisis growth is nearing its end.
In the past decade, Ilfov was the most dynamic county, with 138% growth in active businesses ,to approximately 50,000 businesses in 2019. The lowest growth was registered in Harghita, just 2.1% in the last ten years, as well as Botosani with 4.8% and Bacau with 5%.
Capital Bucharest remains in the lead with over 247,000 new businesses registered (18% of the total), followed by Cluj with 73,000 (5.3% of the total), Timis with 58.500 (4.3% of the total), Constanta with 50,300 and Bihor with 50,200.