Economy

Turnover of Szeklerland companies falls below Transylvania average

The Ministry of Finance has more than half a million active companies in its registry with a positive balance at the end of fiscal 2018, according to ErdélyStat, which means that the concentration of active firms per 1,000 citizens is 26.1. There is a noticeable discrepancy between the capital of Romania and surrounding areas as well as other regions in the country: While in Bucharest the number of companies per 1,000 capita is 56, in Ilfov it is 60, and in Transylvania it is 27; whereas in Wallachia or Țara Românească, the number falls to 20. Moldavia has 18 companies per 1,000 capita.

During the fiscal year 2018, 525,184 companies recorded a turnover of RON 1.5 trillion, with Bucharest-based firms accounting for 42 percent of the total, Transylvanian companies 28 percent, Wallachia 21 percent, and Moldavian 8.5 percent.

Active companies in Transylvania in fiscal 2018. Image source: EdélyStat

In Transylvania, the Ministry of Finance registered 186,173 active companies, totaling a turnover of RON 427.7 trillion, which means RON 63,000 per capita. When looking at Szeklerland, we find that companies registered in this region account for 4.1 percent of the total turnover of the Transylvanian region, which puts them below the region’s average of RON 33,724. An interesting addition to the above is that of the 515 companies with turnover above RON 100 million, only 20 are based in Szeklerland (3.9 percent). Harghita and Covasna counties are predominantly populated by small and medium-sized companies, with a turnover between RON 1 and 10 million.

This is due to the concentration of big companies in bigger cities such as Kolozsvár/Cluj-Napoca, Nagyvárad/Oradea and Brassó/Brasov, the data crunched by ErdélyStat reveals. When looking at the turnover of firms based in Southern Transylvania and Bánság/Banat, we find that the RON 70,000 annual turnover per capita is way above the region’s average.

 Companies grouped by activity domains in Transylvania. Image source: ErdélyStat

Kolozsvár and Central Transylvania in general are bright spots in this report because these are the regions where the turnover per capita is the highest of all: RON 76,536.

When analyzing cities with 100,000 or more inhabitants in terms of company concentration per capita, ErdélyStat has found that the Transylvanian cities of Kolozsvár, Nagyvárad and Brassó lead the list. The city with the smallest company concentration is Szatmárnémeti/Satu Mare, but it still ranks higher than Craiova and Galati.

Székelyudvarhely/Odorheiu Secuiesc and Csíkszereda/Miercurea-Ciuc also secured a good ranking on the list of company concentration in smaller cities (with inhabitants between 20,000 and 100,000).

Author: István Fekete