A report by Turkish daily Dunya says the overall textile trade volumes in Istanbul’s Laleli, Osmanbey and Merter districts are likely to decline by up to 40 per cent in 2020. According to a report, when the country began reopening its economy by gradually lifting most of the previously imposed restrictions, the number of closed companies in Laleli increased.

Gıyaseddin Eyyüpkoca, Chairman of the Laleli Industrialists and Businessmen’s Association (LAS-AD), which represents some 2,500 traders in Laleli, said in 2019 the district reported about $3 billion in commerce. A large portion of this trade was conducted through applications such as WhatsApp during the coronavirus restrictions.