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Number of Azerbaijani companies registered in Turkey revealed

Turkey Materials 21 September 2020 11:49
Number of Azerbaijani companies registered in Turkey revealed

BAKU, Azerbaijan, Sept.21

By Rufiz Hafizoglu - Trend:

Seventy-seven companies with Azerbaijani capital were registered in Turkey from January through August 2020, which is by 48 companies less than in the same period of 2019, the Union of Chambers and Commodity Exchanges of Turkey (TOBB) told Trend on Sept. 21.

During the reporting period, the total capital of Azerbaijani companies registered in Turkey amounted to over 16.6 million liras (more than $2.1 million), as compared to over 18.6 million liras ($2.4 million) in the same period of last year.

Meanwhile, most of the Azerbaijani companies were registered in Istanbul (63 companies) with a total capital of over 10.2 million liras ($1.3 million).

Eight of the companies were industrial companies, two were construction companies, two mining companies, 38 were engaged in wholesale and retail trade, six companies were operating in the sphere of transportation, five in tourism, and four in real estate sales.

"The remaining 12 companies with Azerbaijani capital operate in other sectors of the economy," TOBB said.

The total capital of 38 companies operating in the wholesale and retail trade registered during the reporting period exceeded 6.3 million liras ($830,000), 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 (almost $3.9 million). This indicator amounted to 52.9 million liras ($6.9 million) during 2018.

Most of the Azerbaijani companies (152 companies) were registered in Istanbul, with the total capital of 28.9 million liras ($3.8 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 (over $1.6 million).

(1 USD = 7.548 TL on Sept.21)

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Follow the author on Twitter: @rhafizoglu

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