Turkish businesses amass $2.9 trillion in assets by 2024, according to TurkStat figures
In 2024, the Turkish business sector showcased a vibrant landscape, as reported by the Turkish Statistical Institute (TurkStat). The consolidated balance sheet data covered over 1.1 million firms across various sectors, revealing some fascinating insights.
The manufacturing sector emerged as the largest, with an asset size of ₺25.68 trillion. This sector also generated the highest net profit in 2024, amounting to ₺559.1 billion. Despite higher turnover compared with the previous year, operating profitability fell. Manufacturing accounted for 16.4% of all firms and maintained its weight in Türkiye's industrial base.
The wholesale and retail trade sector followed closely, with ₺18.58 trillion in assets and ₺299.6 billion in net profit. This sector represented the largest group with 356,062 firms, making it a significant player in the Turkish economy.
Professional, scientific, and technical activities posted a net profit of ₺286.2 billion, while holding ₺7.26 trillion in equity. On the flip side, the water supply, sewerage, waste management, and remediation sector reported a net loss of ₺1.68 billion.
The education sector closed the year with a net loss of ₺3.15 billion. However, it's worth noting that no direct data for Turkey 2024 from the search results is available regarding the industry with the highest assets and profits among operating companies. Typically, sectors like finance, petrochemicals, or large-scale trading tend to dominate in terms of assets and profits.
The consolidated total liabilities of the firms stood at ₺47.23 trillion, while shareholders' equity amounted to ₺48.60 trillion. Aggregate net sales reached an impressive ₺78.25 trillion. The Turkish business sector's combined assets were reported to be ₺95.84 trillion ($2.92 trillion). The overall net profit across all sectors stood at ₺1.95 trillion ($59.4 billion).
In conclusion, the Turkish business sector in 2024 demonstrated a resilient and diverse economy, with manufacturing and wholesale and retail trade sectors leading the way in terms of assets and profits. However, it's essential to acknowledge the challenges faced by certain sectors, such as education and water supply, and continue to support their growth and development.
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