Turkey sees 6,670 new company launches in May

Country's top trade union says 1,055 new companies with foreign partners established last month

By Muhammed Ali Gurtas

ANKARA (AA) - Turkey saw 6,670 new company launches in May, the country’s top trade union announced on Friday.

The Turkish Union of Chambers and Commodity Exchanges (TOBB) said the figure last month fell 18.56% on a yearly basis.

Official data revealed that 1,055 companies with overseas capital were established in May.

"563 of these companies had Turkish partners, 75 had Iranian partners and 67 had Syrian partners," TOBB said.

The trade union noted that 878 companies were closed in May, rising 49.07% year-on-year.

In the January-May period, the country saw 35,392 new company launches while 4,796 companies shut down.

Last year, more than 85,000 new companies were established -- up 17% from 2017 -- while some 12,500 companies went out of business.

On July 19, TOBB will release related figures for June.

Kaynak:

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