For the first time, Statistics Iceland is publishing data on the age distribution of insolvent public and private legal units, from 1998 onwards. For the period 1998-2014, 49.6% of insolvent legal units are less than 7 years old, and 34.3% are 7-12 years old. Only 16% of legal units are 13 years or older when they are declared insolvent. For the year 2014, 9.1% legal units that were declared insolvent were 1-3 years old, 23.7% were 4-6 years old and 30.6% were 7-9 years old.

Corporate insolvencies decreased by 20% over the last 12 months, from May 2014 to April 2015, compared to the prior 12 months. There were 769 corporate insolvencies in that period. The greatest decrease of insolvencies was in Financial and insurance activities, 22% over a 12 months period.

New registrations of private limited companies increased by 8% over the last 12 months, from May 2014 to April 2015, compared to the prior 12 months. There were 2,107 new registrations in that period. The highest increase of new registrations was in Professional, scientific and technical activities, 44% increase over a 12 months period.

New registration and insolvencies
  April   May- April  
  2015 2014 % 2014-2015 2013-2014 %
New registration            
Total 185 180 3 2,107 1,956 8
A Agriculture, forestry and fishing 13 7 86 98 86 14
C Manufacturing 10 7 43 83 82 1
F Construction 20 14 43 248 184 35
G Wholesale and retail trade; repair of motor vehicles and motorcycles 22 23 -4 279 276 1
H Transportation and storage 3 5 -40 44 43 2
I Accommodation and food service activities 13 11 18 140 118 19
J Information and communication 17 19 -11 174 170 2
K Financial and insurance activities 16 36 -56 312 312 0
L Real estate activities 33 9 267 248 256 -3
M Professional, scientific and technical activities 21 21 0 212 147 44
N Administrative and support service activities 6 16 -63 140 157 -11
             
Insolvencies            
Total 66 83 -20 769 881 -13
A Agriculture, forestry and fishing - 3 - 23 28 -18
C Manufacturing 5 5 0 53 57 -7
F Construction 11 11 0 145 167 -13
G Wholesale and retail trade; repair of motor vehicles and motorcycles 14 15 -7 140 166 -16
H Transportation and storage 3 2 50 22 28 -21
I Accommodation and food service activities 5 7 -29 64 61 5
J Information and communication 1 4 -75 35 40 -13
K Financial and insurance activities 3 8 -63 51 65 -22
L Real estate activities 14 12 17 96 116 -17
M Professional, scientific and technical activities 5 8 -38 68 66 3
N Adminstrative and support service activities 1 2 -50 33 32 3

Statistics