Newly established companies across Turkey decrease in February

Newly established companies across Turkey decrease in February

ANKARA – Anadolu Agency
Newly established companies across Turkey decrease in February

Turkey saw 6,694 new company launches in February this year, the Turkish Union of Chambers and Commodity Exchanges (TOBB) announced on March 22.

Last month, the number of newly established companies fell by 5.64 percent year-on-year.

According to the TOBB report, the top three fields of operation among new companies were wholesale and retail trade, manufacturing, and construction.

"In February, 1,035 companies with foreign partners were established," the report said. "Of these companies, 556 had Turkish partners, 96 had Iranian partners and 71 had Syrian partners."

Business figures also revealed that 625 companies were closed in February.

In 2018, more than 85,000 new companies were established - up 17 percent from 2017 - while some 12,500 companies went out of business.

On April 19, TOBB will release related figures for the third month of this year.

Turkish companies, February, 2019, Turkish economy