Economy of Istanbul

Turkey's machinery exports reached $9.2 billion in the first five months of this year, according to figures released by a sector association on June 13.

The sector's exports increased by 37 percent year-on-year in the January-May period, and 12 percent versus the same period in 2019, the Machinery Exporters' Association said in a press release.

Istanbul-based companies achieved $6.1 billion worth of exports last month, taking a 38.2% share in Turkey's exports, according to information compiled from the data by the Turkish Exporters' Assembly (TIM).

In February, the sector that exports the most products from Istanbul was ready-to-wear and apparel with $1.3 billion of exports, taking a lion share with 16.9%.

Turkey's largest defense fair, organized by the Istanbul Defence and Aerospace Cluster Association, SAHA, has drawn greater attention from both domestic and foreign investors.

Turkey's machinery exports hit $14.8 billion in January-October, an exporters' group said.

One of Turkey's premier technology events, the Smart Future World Expo 2019, started in Istanbul on Oct. 30.

German automotive giant Volkswagen's major investment in Turkey would encourage other big foreign companies to invest in the country, Istanbul Chamber of Commerce (ITO) President Şekib Avdagiç said on Oct. 6.

A total of 5,301 new companies were established in Turkey last month, the Turkish Union of Chambers and Commodity Exchanges (TOBB) announced on Sept. 20.

Turkey's largest aerospace and technology event Teknofest started in Istanbul on Sept. 17.

Turkey's aerospace and technology event Teknofest Istanbul will kick off on Sept. 17 at the Atatürk Airport.

Turkey's first institute on Islamic economy and finance aims to conduct international academic studies from Turkey's economic hub of Istanbul.