Additionally, 21,221 companies halted operations last year, compared with 66,420 companies in 2010.

In December alone, the number of companies that defaulted on their debt fell to 1,822, from 2,062 companies in November.

Most of the companies that closed their doors in 2011 operated in the retail sector, followed by construction and manufacturing companies, the data showed.

On the other hand, around 130,162 new companies were enrolled with the Trade Registry in 2011, up from 119,048 companies in the previous year. End-December, the Registry included 951,800 companies.