The Turkish Federation of Chambers and Commodity Exchange (TOBB) announced that about 7,197 companies were established in Turkey in July.
According to tobb data, the number of companies launched increased by 5.9% year-on-year last month and 57% on a monthly basis.
At the same time, the Federation reported that a total of 1,119 companies ceased to operate during the same period, with an annual and monthly increase of 56.07% and 22.7% respectively.
The figures showed that 1,204 new or foreign-funded foreign companies were formed last month.
"Of these companies, 692 are Turkish, 92 Syrian and 72 Iranian partners," the data said.