Bulgaria posts EU's sharpest drop in business registrations in Q3 - Eurostat

Bulgaria posts EU's sharpest drop in business registrations in Q3 - Eurostat

Bulgaria's business registrations fell by 18.3% year-on-year in the third quarter of last year, marking the steepest decline among EU member states for which data is available, the EU's statistical office Eurostat said.

In the second quarter of 2020, Bulgaria's business registrations fell by 38.5% year-on-year - the fourth-sharpest drop among EU member states for which data for the April-June period is available, according to Eurostat's revised data for the second quarter of 2020.

The number of bankruptcy declarations in Bulgaria also fell on an annual comparison basis in the third quarter of 2020 - by 9.3%, after falling by 33.6% in the second quarter, Eurostat said in a statement earlier this week.

The other EU member state in Southeast Europe for which data is available for the third quarter is Romania. The country's business registrations fell 6.6% on the year in July-September period of 2020, after decreasing by 35.1% in the second quarter. Thenumber of bankruptcy declarations in Romania edged up by an annual 0.5% following a 19.6% decline in the previous quarter.

The number of registrations of new businesses rose 2.2% on the year in the EU in the third quarter, and by 45.3% compared to the second quarter. Bankruptcies decreased by an annual 17.7% but added 25.7% quarter-on-quarter, Eurostat said.

Currently, around twenty countries have contributed to the statistics, thus the EU coverage is not complete due to the voluntary nature of the data collection, Eurostat noted.

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