Turkey's Top 500 Industrial Enterprises Revealed

Results of Istanbul Chamber of Industry's 'Turkey's 500 Largest Industrial Enterprises 2021' study announced. According to the research findings, TÜPRAŞ became Turkey's largest industrial enterprise with sales of TRY 136.793 billion based on production sales. Results of the study conducted by Istanbul Chamber of Industry (İSO) identifying Turkey's largest 500 industrial enterprises have been announced. According to the research, Turkey's top three largest industrial enterprises are TÜPRAŞ with TRY 136 billion 793 million, Ford Otomotiv with TRY 67 billion 305 million, and Star Rafineri Fabrikaları with TRY 55 billion 187 million respectively. Results Announced at Press Conference Results of the study identifying Turkey's largest 500 industrial enterprises were shared with the public at a press conference hosted by Istanbul Chamber of Industry. Speaking at the conference, İSO Board Chair Erdal Bahçıvan noted that the pandemic's impact has reached the capillaries of our lives, stating, "We felt it in the İSO 500's announcement schedule as well. In recent years, we moved its schedule forward through great efforts first to June, then to May. In 2020, we were able to publish the İSO 500 in July due to pandemic conditions. Fortunately, last year with great effort and dedication we were able to announce the İSO 500 in May. This year too, maintaining our tradition, we continued to keep the May schedule" he said. Speaking about the pandemic's impact, Bahçıvan said, "In the first year when the pandemic hit hardest, production in many industries worldwide declined significantly. Energy use and logistics came to a standstill, and supply problems reached critical levels. This process reflected itself in growth figures as the world economy contracted by 3.1%. However, this contraction was followed by rapid recovery of 6.1% in 2021. While this growth was realized through strong increase in demand, mounting supply problems brought high inflation back to the world economy's agenda after a long interval. Besides the inflation experienced, the deep traumas caused by the Covid-19 pandemic limited the inclusiveness of growth, further increasing existing imbalances between countries and social groups" he said. Industry's Contribution to Economic Growth Cannot Be Denied Noting that Turkey's economy performed strongly in 2021, the strongest in the past 10 years, Bahçıvan continued: "Turkey's economy demonstrated its strongest performance in the past 10 years in 2021 with growth of 11%, well above the global average. While our economy achieved high growth rates in all quarters of the year, this is particularly stemming from increased external demand. In 2021, sharp increases in industrial production and accelerating investments, together with exports accelerated by changes in global supply chains, contributed to growth. The main factor driving high export growth was the additional supply demand arising from Turkish industry emerging as an important alternative producer for buyers worldwide. On the other hand, following successful vaccination campaigns against the epidemic domestically, the gradual lifting of restrictions on economic and social activities and the resulting expanding domestic demand were important factors supporting economic growth. Under the influence of all these developments, the industrial sector grew by 16.6% and manufacturing industry by 17.2%, positively differentiating from the general economy and becoming the sector contributing most to growth" Emphasizing how powerfully exports drove 2021 growth, Bahçıvan said, "As a result of reviving global trade and additional supply demand directed at Turkey, Turkey's 2021 exports increased by 32.8% and exceeded USD 225 billion. In the same year, İSO 500's exports reached USD 85.8 billion with an increase of 33.9%. As seen, İSO 500's export growth materialized 1.1 points above Turkey's average. Thus both Turkey and İSO 500 exports broke historical records" he stated. 2021's Largest Industrial Enterprises In the İSO 500 study, TÜPRAŞ was our largest enterprise in 2021 with sales of TRY 136.8 billion based on production sales. This enterprise maintained the leadership it has held for many years in the past year as well. Ford Otomotiv retained its second position The enterprise in third position changed, and "Star Rafineri" moved up three positions to this rank with production sales of TRY 55.2 billion. "Toyota Otomotiv" in fourth position retained its previous position with production sales of TRY 46.2 billion. Fifth position went to "İskenderun Demir ve Çelik" with production sales of TRY 38.7 billion, rising from 10th position on last year's list. An enterprise whose name wishes to remain undisclosed was in sixth position. Ereğli Demir ve Çelik rose two positions in 2021 to seventh place with production sales of TRY 36.8 billion. Arçelik ranked eighth with TRY 35.8 billion. "Oyak-Renault" was in ninth position with TRY 34.4 billion while "TOFAŞ" was in tenth position with production sales of TRY 26.6 billion.