Turkey reports 119,000 business closures amid four years of inflation and high borrowing costs

Turkey recorded 119,178 company and commercial enterprise closures between January 2022 and March 2026, a period marked by years of inflation, high borrowing costs and pressure on small businesses, official figures show.

The statistic was released in a written response by Trade Minister Ömer Bolat to Yasin Öztürk, a lawmaker from the opposition İYİ (Good) Party, who asked whether the government had examined why businesses were shutting down.

Bolat said 540,027 companies and commercial enterprises were established from January 1, 2022, to March 31, 2026, while 119,178 closed or were removed from the registry.