BAKU, Azerbaijan, May 22
By Rufiz Hafizoglu - Trend:
Forty-two companies with Azerbaijani capital were registered in Turkey from January through April 2020, which is by 35 companies less than in the same period of 2019, Union of Chambers and Commodity Exchanges of Turkey (TOBB) told Trend on May 22.
During the reporting period, the total capital of Azerbaijani companies registered in Turkey amounted to over 5.2 million liras ($770 million), as compared to over 11.7 million liras ($1.73 million) in the same period of last year.
In the first four months of 2020, most of the Azerbaijani companies were registered in Istanbul (35 companies) with a total capital of slightly over 4 million liras ($600,000).
Four of the companies were industrial companies, two were construction companies, 19 were engaged in wholesale and retail trade, while two companies were operating in the sphere of tourism, and two in real estate.
"The remaining thirteen companies with Azerbaijani capital operate in other sectors of economy," TOBB said.
The total capital of 19 companies operating in the wholesale and retail trade registered during the reporting period surpassed 2.8 million liras ($420,000), according to TOBB.
Some 184 companies with Azerbaijani capital were registered in Turkey in 2019, which was one company more compared to 2018. The total capital of Azerbaijani companies registered in Turkey amounted to 30.1 million liras ($4.4 million). This indicator amounted to 52.9 million liras ($7.7 million) during 2018.
Most of Azerbaijani companies (152 companies) were registered in Istanbul, with the total capital of 28.9 million liras ($4.2 million).
From January through December 2019, four mining companies, 17 industrial, 15 construction, 88 companies in the wholesale and retail trade, 11 tourism, and two insurance companies with Azerbaijani capital were registered in Turkey.
The remaining 47 companies with Azerbaijani capital were involved in other sectors of the economy.
The total capital of 88 wholesale and retail companies exceeded 12.2 million liras ($1.8 million).
(1 USD = 6.79 TL on May 22)
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