New company launches in Turkey up over 33 percent in April

ANKARA - Anadolu Agency

The number of newly established companies in Turkey rose 33.1 percent last month compared with April 2017, the Turkish Union of Chambers and Commodity Exchanges (TOBB) announced on May 18.

Some 8,456 new companies were established in April, compared to 6,353 businesses starting in the same month last year, the TOBB stated in a report.

According to the TOBB figures, the top three fields of operation among new companies were wholesale and retail trade, as well as construction and manufacturing.

The report showed that 578 companies went out of business in April, down 21 percent from the same month a year earlier.

In April, 938 companies with foreign partners were established.

In the first four months of the year, 32,554 new companies were launched - an annual increase of almost 35 percent, according to the TOBB.