More than 7,000 new businesses started in March

ANKARA

Some 7,057 companies were launched in Turkey last month, the Turkish Union of Chambers and Commodity Exchanges (TOBB) revealed on Friday.

The number of newly established companies fell 5.5% year-on-year in March, according to the union.

However, the March figure was up 5.4% from the previous month.

TOBB said a total of 640 companies went out of business last month, an annual decline of 12.6%.

The figures showed 1,082 foreign-partnered or foreign-funded fresh companies were formed during the month.

"Of these companies, 563 had Turkish partners, 80 had Iranian partners and 73 had Syrian partners," it said.