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Eurostat: Romania, one of the high-growth enterprises country in the EU

By Edwig Ban
In 2016 compared to 2015, the number of high-growth enterprises increased by 14% in the European Union (EU). According to the preliminary data for 2016, the number of high-growth enterprises in the EU was 180 000 compared to 158 000 in 2015, according to data published by Eurostat on Thursday.
Between 2015 and 2016, the number of high-growth enterprises increased in 23 EU Member States. The increase was highest in Cyprus (104%), however, the absolute number of high-growth enterprises in Cyprus is relatively low (48 in 2015 and 98 in 2016). The increase exceeded 34% in Romania, also in Slovenia (29%), Spain (27%), Italy and France (both 26%).
These enterprises provided employment for around 15 million employees: an increase of 13%.
In the case of Romania, the number of high-growth companies climbed from 1,170 firms in 2015 to 1,568 firms in 2016. Most fast-growing companies operating in Romania (406) were in wholesale and retail and repair of motor vehicles, followed by 365 manufacturing companies.
At EU level, 23 Member States have seen an increase in the number of high-growth firms.
Under the EU average have signed up United Kingdom, Slovakia, Austria, Belgium Czech Rep.
On the other hand, four Member States had a decrease in the number of high-growth companies: Latvia (-38%), Estonia (-30%), Malta (-18%) and Finland (-4%).
In absolute figures, the largest number of high-growth companies (approximately 40,000) operate in Germany, followed by the UK (26,000), Spain and France (17,000 each) and Italy (15,000).
The number of high-growth firms improved in all sectors of the economy, but the largest growth was recorded in 'Accommodation and food services' (21%), followed by' Information and Communication '(15.4%) and' Transport and Storage "(14.7%).
According to Eurostat, a company is considered a high-growth firm if the average growth rate of the number of employees exceeds 10% over a three-year period, only companies with at least 10 employees at the beginning of this period being considered.
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