Corporate insolvencies in Portugal decreased by 19% in 2022 – Notícias de Coimbra
Company insolvencies in Portugal decreased by 19% in 2022 compared to 2021, to the lowest value in the last three years, while the formation of new companies increased by more than 15%, Iberinform announced today.
In a statement, the Crédito y Caución branch says that, compared to the previous year, 901 less companies were declared insolvent, corresponding to 3,869 insolvencies registered at a monthly average of 352, “the lowest figure in the last three years”.
Insolvency declarations that could be from third parties decreased by around 23% compared to 2021, while submissions to insolvency by companies themselves decreased by more than 22% and closures with an insolvency plan dropped from 51 in 2021 to 46 in 2022 (-9. 8%).
The analysis by Iberinform also points out that the districts of Lisbon and Porto led the way in insolvencies, with totals of 1,035 and 875, respectively, which translates into a decrease of 6.8% in the capital and around 27% in Porto.
“However, the biggest decreases are registered in the districts of Portalegre (-38%), in Angra do Heroísmo (-35%), in Madeira (-32%) and in Viana do Castelo (-30%)”, he highlights, detailing that, “of the 20 districts that present decreases, 80% have values greater than two digits”.
In 2022, only two districts showed increases in insolvencies compared to 2021: Horta (+100%) and Braga (+44%).
By sectors, it appears that only two did not see a decrease in insolvencies compared to 2021: ‘Electricity, gas and water’ (increase of 5.9%) and ‘telecommunications’ (zero variation).
The biggest decreases were registered in ‘extractive industry’ (-25%), in ‘hotels and restaurants’ (-22%), in ‘manufacturing industry’ (-22%) and in ‘other services’ (-22% ), with the ‘construction and public works’ sector showing a drop of around 19% and the ‘sale of vehicles’ by 15%.
Analyzing company formations, last year there was an increase of more than 15%, with a total of 47,930 new companies created, 6,423 more than in 2021 (41,507).
“The most significant number of constitutions is registered in Lisbon, with 16,734 new companies (+25%), followed by Porto, with 7,989 companies (+9.9%)”, notes Iberinform.
By region, more than 77% of the districts have increased their constitutions, with increases varying between 2.4% (Braga) and 27% (Faro).
With double-digit increases, the highlights were the districts of Ponta Delgada (+25%), Setúbal (+25%), Horta (+21%), Portalegre (+19%) and Coimbra (+17%), with in Madeira the increase was over 16% and in Angra do Heroísmo it stood at 9.4%.
On the contrary, only four districts had a negative change: Bragança (-10%), Évora (-5.9%), Viseu (-4%) and Viana do Castelo (-0.6%). Castelo Branco has zero variation compared to 2021, with a total of 499 new companies created each year.
In an analysis by sectors, last year ‘transport’ (+114%), ‘telecommunications’ (+32%), ‘hotels and restaurants’ (+21%), ‘other services’ recorded a positive variation in the creation of new companies (+17%), ‘vehicle trade’ (+13%), ‘electricity, gas and water’ (+8.5%), ‘construction and public works’ (+7%), ‘wholesale trade’ ( +9.2%) and ‘agriculture, hunting and fishing’ (+0.7%).
The ‘extractive industry’ (-33%), the ‘flank trade’ (-14%) and the ‘manufacturing industry’ (-2.6%) had a negative variation compared to 2021 in the creation of new companies.