Turkish enterprises’ overseas affiliates post $89.8 billion turnover in 2024

ANKARA

Enterprises based in Türkiye controlled 2,567 affiliates abroad in 2023 and 2,706 in 2024, according to data from the statistics authority on Feb. 19.

These affiliates reported a turnover of $84.63 billion in 2023, rising to $89.84 billion in 2024, said the Turkish Statistical Institute (TÜİK).

In 2024, industry accounted for the largest share of turnover with $35.01 billion, followed by trade at $33.24 billion, services at $12.22 billion, and construction at $9.37 billion. By activity, 967 affiliates operated in services, 943 in trade, 506 in industry and 290 in construction.

European countries (The EU27 and EFTA) ranked first both in the number of affiliates and turnover, representing 39.2 percent of affiliates and 37.1 percent of turnover.

“Other European” countries followed with 19.3 percent of affiliates and 23.9 percent of turnover. Other Asian countries ranked third, accounting for 13.3 percent of affiliates and 13.2 percent of turnover.

Germany hosted the highest number of affiliates, with 254 in 2024, generating $4.06 billion in turnover. The United Kingdom, however, led in turnover, with $ 9.24 billion produced by 143 affiliates.

Romania ranked second in turnover with $6.86 billion from 96 affiliates, while Russia placed third with $6.51 billion generated by 135 affiliates.