Business and industry in Izmir
These are some important industry branches in İzmir:
Alcoholic drinks and tobacco products are the sectors that produce the highest added value in the sectors related to agriculture; they create employment and are an important branch of industry which contribute directly or indirectly to each part of society from agriculture to transportation.
The petrochemical sector, representing 25% of the total chemicals production of Turkey, is a locomotive sector which provides input for other sectors. Petkim Petrokimya Holding INC. (PETKİM) Aliağa facilities, one of the biggest petrochemical companies, in Turkey, are located in İzmir. İzmir hosts the first refinery investment realized by the private sector with the Project of Star Refinery, which is still under construction, in Petkim peninsula, of 10 million tons of capacity per year.
Besides one of the 4 petroleum refineries of Turkey Petrol Refineries A.Ş (TÜPRAŞ) which is Europe’s 7th and the world’s 28th biggest petrol refinery is located in İzmir.
The Automotive sector is among the locomotive sectors of our country. Therefore it is extremely important that the continuous growth of the sector is essential for the country’s economy, development, and employment.
Aegean Free Zone (ESBAŞ), in Gaziemir, and the İzmir Free Zone (İZBAŞ), in Menemen, are the 2 important free zones of the city. Particularly İZBAŞ is one of the OIZ’s, that has the biggest trade volume and has great a contribution to the Izmir economy in terms of employment. Aegean OIZ is operating since 1990. Moreover, currently, it is regarded as one of the most successful OIZ’s in Europe. The OIZ in Menemen, Izmir, is 16 miles away from Aliağa port area and is nearby the Çandarlı Port to be one of the biggest ports in the world after its ongoing construction period is finalized.
The city of Izmir, which has always been one of the major centers of foreign investment, exports and transportation of Turkey since the 18th century. Over the past 15 years, it has also increased its exports abroad four times. Izmir has a significant role in Turkey’s economy, with its geographic location and the infrastructure of exports and imports (land, sea and air).
İzmir has the largest indoor Turkish airport and four major container ports that have uniquely positioned the city. With more than 4 million inhabitants, the city is the third largest populated city of Turkey, with over $14,000 per capital, accounting for 6.5 percent of Turkey’s total domestic production.