Of the 454,000 companies with revenue above zero (which this analysis took into account), around 55% are in the black, while the others are loss-making.

On the over 100,000 insolvencies, the funding crunch and the ever fiercer competition, losses were almost as high as gains in 2011 and 2012. However, 2013 figures show local companies have learnt how to make a profit again.

Still, while companies’ profit margin went beyond 1% after two extremely challenging years, it is still far from the almost 5% level reached in 2007.

(English version by Catalina Apostoiu)