Number of firms closed in May down 19 percent

The number of companies and natural person commercial enterprises that closed in May decreased 18.15 percent and 11.78 percent, respectively, and the number of cooperatives increased 2.7 percent in May when compared to the previous month, Turkish Union of Chambers and Commodity Exchanges' (TOBB) statistics regarding established and closed companies for May show. Also, the number of companies, cooperatives and natural person commercial enterprises established in May declined by 7.52 percent, 3.95 percent and 11.87 percent, respectively compared to April. A total of 5,349 companies were established and 505 companies closed in May.

The number of companies, cooperatives and natural person commercial enterprises established in May dropped 3.76 percent, 5.19 percent and 10.05 percent, respectively, compared to the same month last year. The number of companies, cooperatives and natural person commercial enterprises closed in May decreased 19.07 percent, 13.64 percent and 4.20 percent, respectively, compared to the same month last year. A total of 31,656 companies and cooperatives were established in the first five months of 2016.

A total of 25,289 limited liability corporations and 6,000 joint-stock companies were established in the five-month period, constituting 45.05 percent and 54.94 percent of capital, respectively. The total capital of companies established in May rose 9.09 percent from April. Meanwhile, a total of 385 companies with foreign partners were established last month, including 129 Syrian, 27 Iraqi and 26 Iranian partners. The number of companies with foreign partners established in the first five months of the year reached 2,157, including 873 Syrian, 141 Iraqi and 137 German partners.