15 thousand new firms opened in the first quarter in Istanbul, 7 thousand firms closed

In the first quarter of Istanbul, a thousand new firms opened, a thousand firms closed
In the first quarter of Istanbul, a thousand new firms opened, a thousand firms closed

Held in Istanbul, where 43 percent of Turkey's exports, exports decreased 36,9 percent in April compared to the previous year. While exports decreased in the ready-to-wear and apparel industry, it increased in the defense and aviation industry sector. The country where the most exports were made was Germany. While exports to Germany decreased, exports to China increased. In Istanbul, 15 thousand new companies were opened and 7 thousand companies were closed in the first quarter.


Istanbul Metropolitan Municipality Istanbul Statistical Office published the May 2020 Real Markets Istanbul Economy Bulletin, where real markets related to Istanbul are evaluated. In the bulletin, export figures were discussed in detail.

Exports decreased by 36,9 percent

Exports from Istanbul in April decreased by 36,9 percent compared to the same month of the previous year and 30,4 percent compared to the previous month, reaching 3 million 662 million dollars.

Total exports decreased by 11,8 percent

The total export realized by the end of April 2020 decreased by 11,8 percent compared to the previous year, the decrease in total exports in the same period was 13,3 percent took place in Turkey.

Istanbul's share in total exports increased

Istanbul's share in total exports increased by 1,4 percent in April compared to the previous month and reached 43,9 percent.

Most decrease in exports, ready-made clothing and apparel industry

The sector with the highest decrease in the total export amount from Istanbul in April was ready-to-wear and apparel with 58,2 percent. Ready-to-wear and apparel exports decreased by $ 487 million compared to the previous month to $ 350 million.

Chemicals and articles are in the first place in export

18,4 percent of the exports in April came from the chemical materials and products sector. Compared to the previous month, it decreased by $ 137 million to $ 813 million. This sector, respectively; The steel industry with 455 million dollars, ready-to-wear garments with 350 million dollars, electricity-electronics with 298 million dollars and iron and non-ferrous metals sectors with 283 million dollars.

Defense and Aviation Industry exports increased

Exports from the defense and aerospace industry increased by 65 million dollars to 91 million dollars in April compared to the previous month. Other sectors where exports increased; olives and olive oil, dried fruits and products, and nuts and products.

Exports to China increased after epidemic

Compared to the previous month, exports to China increased by 1,6 percent to 65 million dollars.

Germany ranked first among the export countries

In April, 9,7 percent of exports were to Germany. Germany was followed by the USA, the UK, Italy and Israel, respectively. Compared to the previous month, exports to Istanbul, Germany, UK, Italy and Israel decreased, while exports to the USA increased.

Exports from Istanbul to Germany decreased by $ 161 million compared to April of the previous year, to $ 356 million, while exports to the UK decreased by $ 191 million to 149 million. Exports to the USA increased by $ 46 million to $ 301 million.

15 thousand 308 new companies opened in the first three months in Istanbul

As of the end of March 2019, 12 thousand 739 new companies started operating, and by 2020 this figure increased to 15 thousand 308. The number of foreign capital companies established was 985 thousand, while Iranian citizens ranked first.

7 thousand companies closed

As of March, the number of companies that were closed and liquidated increased compared to the previous year and reached 7 thousand 314.

Reel Markets Economic Bulletin May 2020 in Istanbul, Turkey Union of Chambers and Commodity Exchanges (TOBB), Turkey Statistical Institute (TSI) and the Ministry of Trade and Turkey Exporters Assembly (TIM) was prepared based on the data.


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