The number of foreign-controlled businesses in Türkiye edged higher in 2024, climbing modestly from 10,673 in 2023 to 11,086, according to fresh data released by the Turkish Statistical Institute (TÜİK) on March 6.
Yet despite the increase in company numbers, their share in total turnover edged down from 12.9 percent in 2023 to 12.6 percent in 2024. Their share in overall employment also declined from 5.2 percent to 5.1 percent.
Sectoral data shows that tobacco manufacturing remained the most foreign-dominated activity, with overseas firms accounting for 94.6 percent of turnover in 2024. The manufacture of motor vehicles, trailers and semi-trailers followed, where foreign-controlled companies represented 40.6 percent of revenues. This was 39.2 percent in the insurance, reinsurance and pension funds and 36.2 percent in postal and courier services. In the financial services sector, it was 34.7 percent.
German enterprises held the strongest footprint, operating 1,309 companies and generating 13.1 percent of total turnover among foreign-controlled firms, TÜİK data showed. U.S.-based companies ranked next, with 1,010 firms contributing 12.3 percent, while British businesses accounted for 737 firms and 8.3 percent of turnover.
