Tuesday, February 11, 2025
spot_img
spot_imgspot_img
HomeNews & ViewsBusiness FocusIstanbul Predicts 40% Textile Trade Decline in 2020

Istanbul Predicts 40% Textile Trade Decline in 2020

gettyimages-1209156437In the midst of the normalization cycle following the coronavirus outbreak, Istanbul’s Laleli, Osmanbey and Merter districts predict an overall trade volume decline of up to 40% over 2020.

According to a report published by the Turkish daily Dünya, after June 1, when the country began reopening its economy by gradually lifting most of the previously imposed restrictions, the number of closed companies in Laleli has even increased.

Gıyaseddin Eyyüpkoca, chairman of the Laleli Industrialists and Businessmen ‘s Association (LAS-AD), which represents some 2,500 traders in Laleli, said that in 2019 the district reported about $3 billion (TL 20 billion) in commerce. Eyyüpkoca told Dünya that a large portion of the trade was conducted through applications such as WhatsApp during the coronavirus restrictions.

YOU MAY ALSO LIKE

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement - spot_img

Join Our Weekly Newsletter

spot_img

Upcoming Events

 

Simillar News

Recent Random

2nd Convocation of BUFT Held

The 2nd Convocation of the BGMEA University of Fashion & Technology (BUFT) was held on Saturday, 8 February 2025 at Bangladesh – China Friendship...

Rich tributes paid to former BGMEA President Mostafa Golam Quddus

A solemn condolence meeting was organized to honour the memory of the late Mostafa Golam Quddus. A distinguished industrialist, visionary leader in the ready-made...

Hoorain HTF Ltd. will exhibit at Texworld Paris 2025

Join the journey with Hoorain HTF Ltd. at Texworld Paris 2025! Explore innovation in textiles from Feb 10-12, 9 AM - 5 PM at...