According to the results of the survey on Turkey’s 500 largest industrial companies for 2023 conducted by the Istanbul Chamber of Commerce and Industry (ISO), the number of companies from the textile sector included in the list has decreased from 32 to 26. The list of Turkey’s second largest 500 industrial companies for 2023, which mainly includes SMEs, includes 71 companies from the textile sector. Biska Tekstil, which ranks first with 2 billion 958 million liras, is followed by Karel Elektronik with 2 billion 949 million liras, while Küçükçalık Tekstil ranks third with 2 billion 945 million liras. Companies with production turnovers between 2 billion 958 million liras and 1 billion 294 million liras were able to place themselves in the ranking.
ISO Second 500’s R&D spending increased 41.5 percent to 3.9 billion lira
The number of organizations conducting R&D in the ISO Second 500 reached its highest level in 2021 at 235 and then stagnated for the past two years. The number of organizations conducting R&D fell to 228 in 2022 and was 227 in 2023. Despite this, R&D spending in the ISO Second 500 increased by 41.5 percent to 3.9 billion lira.
Erdal Bahçıvan, Chairman of the Board of Directors of Istanbul Chamber of Commerce and Industry (ISO), said: “When we look at the development of indicators related to R&D and technology activities, which we closely follow every year in ISO 500, it is clear that although the distribution of value added according to technology density in ISO Second 500 in 2023 represents a partial signal of improvement, the level achieved, just like in ISO 500, is not satisfactory. In view of a future in which digitalization and green transformation will shape global competition, we consider the fact that R&D expenditure has decreased in the last three years, especially in relation to revenue from production, to be noteworthy.”
Assessing the performance of ISO Second 500, Bahçıvan emphasized that 2023 is not a pleasant year in terms of internal and external dynamics and that it should not be forgotten that industrial companies are facing new challenges and passing an important test while entering a critical process of the country’s economic policies. “Nevertheless, the results show that our industrialists selflessly fulfill their responsibilities towards our country even under the most difficult operating conditions. Despite all the difficulties, they continue to contribute to our economic growth, exports and employment with their investments.”
