Business insolvencies in selected developing economies 2022

The trend in business insolvencies in major developing economies differs greatly from country to country. For example, Russia has seen a significant reduction in their annual number of insolvencies, which declined from almost 36,000 in 2007 to 10,000 in 2021. On the other end of the spectrum, business insolvencies in Turkey increased over this period from just under 10,000 in 2007 to more than 17,000 in 2021. Moreover, China saw a sharp increase in insolvencies in 2020 during the COVID-19 pandemic.

Total number of business insolvencies in selected major developing economies from 2007 to 2022 (with forecasts until 2024)

Characteristic	Brazil	Russia	South Africa	Turkey**	China	India***
2024*	2,650	13,000	2,140	-	8,200	1,750
2023*	2,400	9,500	2,050	-	7,800	1,650
2022	1,857	9,055	1,907	-	7,528	1,212
2021	1,962	10,319	1,932	17,184	8,689	808
2020	2,078	9,930	2,035	15,946	11,997	736
2019	2,887	12,401	2,042	14,050	6,257	959
2018	2,751	10,282	1,845	13,593	3,602	800
2017	2,737	11,513	1,868	14,701	6,257	-
2016	2,705	10,467	1,934	12,328	3,602	-
2015	2,164	10,086	1,962	13,701	3,237	-
2014	1,734	9,407	2,064	15,822	2,613	-
2013	1,680	8,983	2,374	17,400	2,555	-
2012	1,495	10,325	2,716	16,063	2,650	-
2011	1,189	10,235	3,559	14,991	3,037	-
2010	1,308	11,194	3,992	13,442	3,715	-
2009	1,551	13,465	4,133	10,395	4,448	-
2008	1,240	17,754	3,300	9,578	4,555	-
2007	1,694	35,787	3,151	9,954	4,358	-

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Release date

April 2023

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Region

Worldwide

Survey time period

2007 to 2022

Supplementary notes

* Value is estimated.

**Numbers for Turkey don't match those of previous reports, hence 2022-2024 were not included.

***Numbers only available from 2018.

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