Economy

• One of the driving forces behind the national economy
• The second largest commercial centre in Turkey
• A significant industrial base, realizing 9.3% of Turkey's total industrial production
• Created 48% of the Aegean Region's GDP in 2008
• Has high potential in motor vehicles, chemicals, industrial machinery & equipment, food & beverage production, renewable energy, tourism, automotive OEM, information & communications technology
• Has 1743 international companies

A Foreign Tradebase

• More than 4,000 export companies
• 4.2% of the total imports and 5.8 % of the total exports of Turkey
• The traditional export items of Izmir are agro-industry products, machinery and mechanical appliances, automotive components, iron and steel, tobacco, foodstuffs and textile
• A worldwide reputation for its local products such as cotton, figs, grapes, tobacco, olives and superior quality olive oil
• With its organized industrial zones including 7 active, 6 under construction and several in project phase, 2 free zones, 1 technology development zone and 4 main trade ports, Izmir is the investment attraction centre of the region.

The number of international companies in Izmir increased by 105% from 2006 to 2012.

Source: Republic of Turkey Ministery of Economy

The most important factors behind this increase were:

• Izmir's proximity to foreign and domestic markets.
• access to a high quality workforce
• low labour rates .
• a highly developed infrastructure
• access to raw materials

Breakdown of the Number of International Companies in Izmir by Country of Origin (As of the end of 2010)

Source:Republic of Turkey Ministery of Economy