The number of bankruptcies fell to 464 in June, the lowest level in three years, the national statistics office CBS said on Friday.

In May 552 companies and private individuals were declared bankrupt. In June 2013, the total was 712.

The CBS said the drop in June was due to fewer specialist service providers and building firms going bust. However, companies involved in trade and financial services continue to have a tough time and dominate the statistics, the CBS said.

ING economists said earlier on Friday they expect the full year total to be down 15% on 2013 at around 8,000.