Turkey: New company launches up in January

ANKARA

Turkey saw an 8.1% annual rise in the number of newly established companies in January, the country’s top trade body said on Friday.

A total of 11,329 companies were formed last month, up from 10,477 in January 2020, the Turkish Union of Chambers and Commodity Exchanges (TOBB) said in a report.

Some 952 companies went out of business, down 55.5% from last January 2020.

The number of new foreign-partnered or foreign-funded companies reached 935 in January, down from some 1,100 in the same month last year. Some 499 of those companies had Turkish partners, 60 had Iranian, while 33 had Syrian partners.