Current insolvency statistics in Germany 2024

as of October 2024

Increasing corporate insolvencies

In the first quarter of 2024, 5,209 corporate insolvencies were registered in Germany, an increase of 26.5% compared to the previous year. This is the highest level in almost ten years:

Consumer bankruptcies on the rise

Consumer bankruptcies have also increased. In the first quarter of 2024, 17,478 consumer bankruptcies were recorded, an increase of 4.8% compared to the previous year.

Industry-specific developments

The transport and storage sector has the highest insolvency frequency, followed by the construction industry and the service sector.

influence of inflation and interest rates

Persistent inflation and rising interest rates have severely affected the financial stability of many companies and consumers, which contributes significantly to the rising number of bankruptcies.

Long-term forecast

A further increase in insolvencies of around 10% is expected for 2024, which underlines the challenges in the economy.

Conclusion

Current trends show that many companies and consumers in Germany are increasingly facing financial difficulties, which is reflected in the rising number of insolvencies. These developments can have serious consequences for the economy and the employment situation.

Sources:

• Creditreform – Insolvency statistics : Creditreform reports contain detailed information on corporate and consumer insolvencies and their developments. Creditreform insolvency statistics

• Federal Statistical Office : This source provides comprehensive data on the economic situation in Germany, including insolvency statistics. Federal Statistical Office

• Federal Financial Supervisory Authority (BaFin) : BaFin has published information on financial stability and insolvency avoidance. BaFin

• IWH – Halle Institute for Economic Research : They publish analyses of bankruptcies and their causes. IWH – Halle Institute for Economic Research