Business dissolutions in Romania, down 8.6pct in Q1 2020

The number of business dissolutions decreased by 8.63% in the first three months of 2020, y-o-y, to 7,773 from 8,507 companies in Q1 2019, according to data with the National Companies Registry Office (ONRC).

Most dissolutions were reported in Bucharest City - 1,368 companies (down 5.33% from Q1 2019) and in the counties of Constanta (436, + 3.07%), Timis (403, - 4.73%) and Brasov (391, + 72.25%).

Against Q1 2019, the largest increases in dissolutions were recorded in the counties of Brasov (plus 72.25%), Covasna (plus 45.83%) and Hunedoara (plus 19.77%), while the most significant decreases were recorded in the counties of Caras- Severin (minus 55.49%), Vaslui (minus 51.89%) and Bistrita-Nasaud (minus 50%).

The business field most affected by dissolutions January - March 2020 were wholesale and retail trade; repair of motor vehicles and motorcycles, where 2,172 dissolutions were reported nationwide. Compared with the same period of 2019, the dissolutions in this sector decreased by 16.37%.

Construction and professional, scientific and technical activities are two other business fields where a large number of business dissolutions were reported - 797 and 716, respectively.

In March 2020, 2,068 dissolutions were recorded, most of them in Bucharest (347) and the counties of Constanta (138) and Timis (124).