Business insolvencies: annual growth by region 2023

Following the rising global inflation, business insolvencies are forecast to increase in all world regions in 2023, increasing by almost 50 percent in North America. Following a sharp increase with the 2008-09 financial crash, the number of business insolvencies in North America declined each year from 2010 to 2019. Perhaps somewhat surprisingly, except for Eastern and Central Europe and Latin America, the number of insolvencies fell in all regions in 2020, despite the COVID-19 pandemic.

Year-on-year growth in global business insolvencies from 2008 to 2023, by region (with predictions for 2024)

Characteristic	North America	Latin America	Western Europe	Central and Eastern Europe	Africa	Asia Pacific	Globally
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Release date

April 2023

More information

Region

Worldwide

Survey time period

2008 to 2023

Supplementary notes

* Values are forecast.
The source has calculated the values using on annual changes to their regional insolvency indexes, which uses a base year of 2000.

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