- November 5, 2022
- Posted by: Legend Consultancy
Manufacturing most profitable industry in 2021
The combined net profit of more than 153,000 enterprises that operate in the manufacturing industry amounted to 371 billion Turkish Liras in 2021, according to the company accounts survey conducted jointly by the Turkish Statistical Institute (TÜİK) and the Central Bank.
This was the largest profit posted among 14 industries, with 935,000 companies covered in the survey.
The number of companies operating in manufacturing and their combined net income was 141,000 and 187 billion liras in 2020, respectively.
Manufacturing companies’ domestic sales and export revenues last year amounted to 3.7 trillion liras and 1.4 trillion liras, respectively, while their net sales stood at 4.9 trillion liras.
Total assets of manufacturing companies, which accounted for 16.4 percent of all enterprises in 14 sectors, were 4.9 trillion liras last year.
Wholesale and retail companies’ net profit increased from 71 billion liras in 2020 to 121 billion liras last year, the survey showed.
The number of companies in the sector grew from 284,000 two years ago to 305,000 in 2021.
Net sales of trade companies rose from 4.2 trillion in 2020 to 6.4 trillion last year. Those companies’ gross sales revenues from domestic sales and exports stood at 5.4 trillion liras and 1.1 billion liras, respectively.
Mining and quarrying companies ranked third with combined net income amounting to 47.2 billion liras. Their net sales stood at 144 billion, of which 117 billion liras came from domestic sales and 30 billion from exports.
Some 31,000 information and communication (IC) companies reported a combined net profit of 27.3 billion liras last year, up from 16.7 billion liras in 2021, when there were 27,000 firms operating in the sector. IC firms’ gross sales climbed from 202 billion liras to 281 billion liras.
Their domestic sales grew from 145 billion liras to 180 billion liras, while export revenues increased from 16 billion liras to 20 billion liras.
The transport and storage posted the largest loss at 108 billion liras among all 14 sectors in 2021, widening from a combined net loss of 41 billion liras in 2020.
More than 48,000 companies operating in the sector generated 845 billion liras in gross sales, up from 461 billion liras in two years when there were 46,000 firms in the sector.
The key construction sector posted a net loss of 7.6 billion liras with gross total sales of more than 135,000 firms in the sector at 621 billion liras.
The combined loss of 17,000 firms engaged in real estate activities stood at nearly 46 billion liras, while their total gross sales amounted to 54 billion liras.
Manufacturing companies took the lead in export revenues, followed by wholesale and retail firms.
The combined net sales of 935,000 companies in 14 industries amounted to 14.7 trillion liras last year. In 2020, net sales of 867,000 firms covered by the survey were 9.4 trillion liras. turkey