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ECONOMY

Birth Rate Of Enterprises In Cyprus Saw An Increase Between 2015-2016

Birth Rate Of Enterprises In Cyprus Saw An Increase Between 2015-2016

In 2017, according to data released by Eurostat, the number of new enterprise births in the European Union (EU) as a proportion of the total number of active EU enterprises stood at 9.3 %. This rate remained stable compared with 2016 (9.3%), but it was slightly higher than the rate recorded in 2012 (9.0%).

The employment generated by these newly created enterprises stood at 2.4% of total employment in the EU in 2017, ranging from 5.2% in Portugal to 1.2% in Germany and the Netherlands.

 

Enterprise birth rates highest in Lithuania, lowest in Greece

The enterprise birth rates varied across EU Member States in 2017. The highest rates were observed in Lithuania (19.7%), Portugal (15.8%), Slovakia (13.7%), Hungary (12.9%) and Latvia (12.4%), while the lowest rates were recorded in Greece (4.5%), Belgium (6.4%), Sweden (6.6%), Germany and Austria (both 6.8%). For Cyprus, there are no available data for 2017. However, for 2016 the number of enterprise births stood at 10,2%.

 

Enterprise birth rates post largest gain in Finland, greatest decline in Malta

Compared with 2016, the largest increases in the enterprise birth rates were recorded in Finland (2.9 pp), followed by Slovakia (2.7 pp), Hungary (2.1 pp), Estonia (1.2 pp) and Lithuania (0.9 pp), while the highest decreases were observed in Malta (-6.1 pp), Latvia (-3.8 pp), Spain (-0.9 pp), Bulgaria and Italy (both -0.5 pp) as well as Austria and Sweden (-0.4 pp). For Cyprus, in the period of 2015-2016 for which data are available the increase stood at 1.3pp.

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