Bankruptcies, Q1 2001

The weak performance in the Norwegian and the international market for the ICT-industry securities has led to an increase in bankruptcies. The number of bankruptcies in the ICT-industry has been fairly stable the last years. In the first quarter 1996 the number of bankruptcies in this industry was 42. At the the same time in 1998 the number was 40, and in the first quarter of 2000 the number was 37. 58 bankruptcy proceedings till now in the ICT-industry implies an increase of 57 per cent from last year.

The total number of bankruptcy proceedings in Norway has increased by 10 per cent from 954 in the first quarter of 2000 to 1045 in the first quarter of 2001.

Of the 19 counties in Norway, 11 have had an increase in the number of bankruptcy proceedings. Most bankruptcies, altogether 208, were in Oslo and accounted for 20 per cent on a national basis. The largest percentile increase in the number was reported in Finnmark and Oppland. In Finnmark the number of filings jumped from 12 to 23, a 92 per cent increase, and in Oppland the number of filings jumped from 28 to 51, a 82 per cent increase.

Seven counties saw a reduction in the number of bankruptcy proceedings, with Rogaland reporting the strongest decline. In the first quarter of 2000, Rogaland had 80 bankruptcy proceedings while at the same time this year there were 53 filings, a 34 per cent decline. Sogn og Fjordane was next with a decline of 20 per cent.

The number of personal bankruptcies covering self-employed persons and wage earners has had a fairly strong increase. In the first quarter of 2001 the number was 474, an increase of 19 per cent compared with the same time last year when there were 399. The share of personal bankruptcies has also increased. In the first quarter of 2000 this share was 42 per cent, while the same share the fist quarter of this year is 45 per cent.

Tables

• Table 3 Bankruptcy proceedings by industry. 1. quarter 2000 and 2001