Tupras tops ISO 500 ranking as Türkiye's largest industrial firm

Türkiye Petroleum Refineries, known as Tupras, retained its position as the country's largest industrial enterprise with 698.8 billion Turkish liras ($19.6 billion) in net production-based sales, according to the Istanbul Chamber of Industry's annual ISO 500 survey. ISO Chairman Erdal Bahcivan announced the results of the “Türkiye's 500 Largest Industrial Enterprises 2025” survey at a news conference, noting the continued strength of the energy sector. Ford Otomotiv secured second place with 538.3 billion liras ($15.1 billion) in sales, while Star Refinery maintained third position with 327.9 billion liras ($9.2 billion), according to Anadolu Agency.

Automotive sector consolidates positions

Automaker OYAK-Renault climbed to fourth place from sixth in the previous year's ranking, recording 235.5 billion liras ($6.6 billion) in production-based sales. Toyota Otomotiv ranked fifth with 206.3 billion liras ($5.8 billion), followed by home appliance manufacturer Arcelik with 165.7 billion liras ($4.65 billion) and Mercedes-Benz, which entered the top ten by moving up to tenth place from twelfth with 127 billion liras ($3.56 billion).

Defense and energy firms post strong gains

Turkish Aerospace Industries rose to seventh place from eleventh with 140.9 billion liras ($4 billion) in production-based sales, while Turkish Petroleum Corporation climbed to eighth from sixteenth with 138.8 billion liras ($3.98 billion). Defense contractor Aselsan advanced to ninth from seventeenth with 130.2 billion liras ($3.65 billion). Dollar equivalents in the survey were calculated using the average USD/TRY exchange rate for 2025.