Refinery large Tüpraş continued its longtime management as Turkey’s biggest industrial enterprise, in keeping with the “Top 500 Industrial Enterprises of Turkey 2019” survey introduced Monday.
According to the survey, which dates again to 1968 and is ready by the Istanbul Chamber of Industry (ISO), Tüpraş once more topped the listing with a production-based gross sales worth of almost TL 87.95 billion ($14.48 billion).
Established in 1983, Tüpraş has been main the listing for years.
Automaker Ford additionally maintained its second place with a production-based gross sales worth of round TL 37.07 billion. Toyota Automotive once more ranked third with TL 25.85 billion.
They have been adopted by one other carmaker, Oyak Renault, with TL 24.63 billion, whereas STAR Refinery, a subsidiary of Azerbaijani built-in drilling and effectively providers administration company SOCAR, joined the listing for the primary time and ranked fifth with a production-based gross sales worth of TL 20.83 billion.
The survey revealed that the nation’s high 500 industrial enterprises managed to extend their production-based gross sales by 16.4% in 2019 to over TL 1 trillion, up from round TL 878 billion in 2018.
Last yr, one U.S. greenback traded for TL 5.68 on common, in comparison with 4.82 in 2018.
The proportion rise final yr was the bottom of the final three years in comparison with 33.2% in 2017, and 34.5% in 2018.
ISO 500 corporations’ exports elevated by 2.4% within the yr to $73.5 billion, making up 42% of Turkey’s whole industrial exports, whereas the variety of corporations exporting growing to 463 in 2019, in comparison with 409 30 years in the past.
Speaking of the survey, ISO Chairman Erdal Bahçıvan listed components corresponding to a drop in home demand, a decline in inflation, contraction in international commerce and a downward development in commodity costs as having an impact on a slowdown in ISO 500’s development efficiency.
However, he pointed to 2 optimistic developments that he stated have been promising for the long run.
“Since the final three years, the share of medium-high and high-tech industries within the created added-value has been growing steadily. For the primary time in 2019, the share of medium-high and high-tech within the created added-value has surpassed 30% and reached 30.4%. The enhance is regarded as primarily as a result of protection and aerospace business sectors, which have seen a significant breakthrough lately,” he stated.
Bahçıvan additionally acknowledged that analysis and improvement (R&D) expenditures of the highest 500 corporations elevated by 152% in 2019 to achieve TL 9.7 billion.