The number of new companies launched in Turkey was 15.12 percent higher year-on-year in May, the Turkish Union of Chambers and Commodity Exchanges (TOBB) said in a report released Friday.

Some 6,158 new companies started doing business in Turkey in the month which was also a 3.07 percent decrease compared with April 2017, according to the report.

TOBB's May figures showed an 8.20 percent month-on-month rise in the number of companies which went out of business, 792 in the month.

The report also showed that 583 foreign-partnered or foreign-funded new companies were established in May.

Some 174, or 28.8 percent, of foreign-partnered companies were founded directly by Syrian people or by Syrian nationals in partnerships.