SOCAR among top 10 exporters of Turkiye

SOCAR Turkiye, a subsidiary of the State Oil Company of Azerbaijan (SOCAR) in Turkiye, is one of the 10 largest exporters in this country.

The company ranked 8th on the list.

The 29th regular general meeting of the Turkish Exporters Assembly (TIM in Turkish) was held today with the participation of President Recep Tayyip Erdogan. The results of "Turkiye's first 1,000 exporters - 2021" were announced at the general meeting.

The study conducted by TIM allows monitoring the annual performance of the largest exporting organizations and conducting a number of detailed analyzes. At the same time, it provides guidance to exporting companies, and reveals the results of research conducted for their export development.

According to the study, in 2021, the country's exports increased by 32.8% compared to the previous year and reached 225.220 billion US dollars. In 2021, the total exports of the first 1,000 companies increased by 33.2% to 123.3 billion US dollars.

The share of these companies in total exports was 54.7% and the number of companies exporting for more than 1 billion US dollars was 15.

According to the study, 827 companies were in the top 1,000 in 2021, while this year 173 companies managed to be among the top 1,000 companies for the first time. Local companies contained 80% of the first 1,000. These companies realized 63% of the total exports of the top 1,000.

SOCAR Turkiye was established in late 2006 as a subsidiary of the State Oil Company of Azerbaijan (SOCAR) in Turkiye. The company was established in Turkiye to implement projects in the field of oil refining and petrochemistry, and to trade in natural gas.