Türkiye's biggest industrial enterprise Tupras outpaces competition once again

By Tuba Ongun

Refinery giant Tupras was once again crowned Türkiye's biggest industrial enterprise in terms of production-based sales last year, the Istanbul Chamber of Industry (ISO) announced on Tuesday.

Tupras reported 418.4 billion Turkish liras ($25.2 billion) of production-based sales last year, according to ISO survey data.

With production-based sales of 189.2 billion liras ($11.4 billion), another oil refiner, Star Rafineri, claimed the second spot on the list of Türkiye's Top 500 Industrial Enterprises in 2022, ISO data showed.

Carmaker Ford placed number three, with production-based sales of 140.1 billion liras ($8.44 billion).

ISO head Erdal Bahcivan said the total sales of the biggest 500 industrial enterprises had surged 119% year-on-year to 4.5 trillion liras ($270 billion) in 2022 thanks to strong overseas and domestic demand, as well as exchange rate developments.

Exports by Türkiye's listed industrial giants climbed 14.1% from the prior year to $98 billion, he added.

The Istanbul Chamber of Industry has been announcing data on Türkiye's top 500 companies since 1968

The Turkish lira was traded for 16.5856 per US dollar on average in 2022.