NEWLY-̞ESTABLISHED COMPANIES DECREASE BY 48.6% IN MAY

The number of newly-established companies in Turkey increased by 22.22 percent in May compared to the previous month, however, it decreased by 48.6 percent annually, according to the Union of Chambers and Commodity Exchanges of Turkey (T•BB) data. The number of newly-established companies fell by 3.48 percent during the first five months of the year compared to the same period of the previous year while the number of newly-established cooperatives increased by 3.3 percent. In May, 222 companies with foreign partners were established. A total of 140 of these companies had Turkish partners, while 15 had Iranian partners, and 8 had German partners. The number of closed companies increased by 23.6 percent in May compared to April.