Economy - overview:
Turkmenistan is largely a desert country with intensive agriculture in irrigated oases and sizeable gas and oil resources. The two largest crops are cotton, most of which is produced for export, and wheat, which is domestically consumed. Although agriculture accounts for roughly 8% of GDP, it continues to employ nearly half of the country's workforce. Turkmenistan's authoritarian regime has taken a cautious approach to economic reform, hoping to use gas and cotton export revenues to sustain its inefficient and highly corrupt economy. Privatization goals remain limited. From 1998-2005, Turkmenistan suffered from the continued lack of adequate export routes for natural gas and from obligations on extensive short-term external debt. At the same time, however, total exports rose by an average of roughly 15% per year from 2003-08, largely because of higher international oil and gas prices. Additional pipelines to China, that began operation in early 2010, and increased pipeline capacity to Iran, have expanded Turkmenistan''s export routes for its gas. Overall prospects in the near future are discouraging because of endemic corruption, a poor educational system, government misuse of oil and gas revenues, and Ashgabat''s reluctance to adopt market-oriented reforms. The majority of Turkmenistan''s economic statistics are state secrets. The present government established a State Agency for Statistics, but GDP numbers and other publicized figures are subject to wide margins of error. In particular, the rate of GDP growth is uncertain. Since his election, President BERDIMUHAMEDOW unified the country''s dual currency exchange rate, ordered the redenomination of the manat, reduced state subsidies for gasoline, and initiated development of a special tourism zone on the Caspian Sea. Although foreign investment is encouraged, and some improvements in macroeconomic policy have been made, numerous bureaucratic obstacles impede international business activity.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): Gross national saving: GDP - composition, by end use: GDP - composition, by sector of origin: Agriculture - products: Industries: Industrial production growth rate: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Fiscal year: Inflation rate (consumer prices): Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Exchange rates:
NOTE: 1) The information regarding Turkmenistan on this page is re-published from the 2014 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Turkmenistan Economy 2014 information contained here. All suggestions for corrections of any errors about Turkmenistan Economy 2014 should be addressed to the CIA.
$48.51 billion (2012 est.)
country comparison to the world: 97
note:
data are in 2012 US dollars
[see also: GDP country ranks ]
$34.69 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]
11.1% (2012 est.)
country comparison to the world: 7
[see also: GDP - real growth rate country ranks ]
$8,600 (2012 est.)
country comparison to the world: 127
note:
data are in 2012 US dollars
[see also: GDP - per capita country ranks ]
12.9% of GDP (2012 est.)
country comparison to the world: 115
[see also: Gross national saving country ranks ]
household consumption: 50%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption:
12.9%
investment in fixed capital:
10.3%
investment in inventories:
0%
exports of goods and services:
62.8%
imports of goods and services:
-36%
agriculture: 7.5%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry:
24.4%
services:
68.1% (2012 est.)
cotton, grain, melons; livestock
natural gas, oil, petroleum products, textiles, food processing
6.5% (2012 est.)
country comparison to the world: 40
[see also: Industrial production growth rate country ranks ]
2.3 million (2008 est.)
country comparison to the world: 117
[see also: Labor force country ranks ]
agriculture: 48.2%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
14%
services:
37.8% (2004 est.)
60% (2004 est.)
country comparison to the world: 198
[see also: Unemployment rate country ranks ]
30% (2004 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: 2.6%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
31.7% (1998)
40.8 (1998)
country comparison to the world: 56
[see also: Distribution of family income - Gini index country ranks ]
revenues: $5.158 billion
[see also: Budget revenues country ranks ]
expenditures:
$4.667 billion (2012 est.)
14.9% of GDP (2012 est.)
country comparison to the world: 194
[see also: Taxes and other revenues country ranks ]
1.4% of GDP (2012 est.)
country comparison to the world: 31
[see also: Budget surplus (+) or deficit (-) country ranks ]
calendar year
8.5% (2012 est.)
country comparison to the world: 188
[see also: Inflation rate (consumer prices) country ranks ]
$526.3 million (31 December 2012 est.)
country comparison to the world: 159
[see also: Stock of narrow money country ranks ]
$1.652 billion (31 December 2012 est.)
country comparison to the world: 155
[see also: Stock of broad money country ranks ]
$2.561 billion (31 December 2012 est.)
country comparison to the world: 128
[see also: Stock of domestic credit country ranks ]
$NA
[see also: Market value of publicly traded shares country ranks ]
$622.7 million (2012 est.)
country comparison to the world: 46
[see also: Current account balance country ranks ]
$15.48 billion (2012 est.)
country comparison to the world: 78
[see also: Exports country ranks ]
gas, crude oil, petrochemicals, textiles, cotton fiber
China 69.6%, Italy 4.7% (2012)
$10.69 billion (2012 est.)
country comparison to the world: 96
[see also: Imports country ranks ]
machinery and equipment, chemicals, foodstuffs
China 19.5%, Turkey 17%, Russia 12.6%, UAE 6.8%, Ukraine 6%, Germany 4.7%, UK 4.2% (2012)
$20.71 billion (31 December 2012 est.)
country comparison to the world: 58
[see also: Reserves of foreign exchange and gold country ranks ]
$428.9 million (31 December 2012 est.)
country comparison to the world: 178
[see also: Debt - external country ranks ]
Turkmen manat (TMM) per US dollar -
2) The rank that you see is the CIA reported rank, which may habe the following issues:
a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order
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This page was last modified 06-Nov-14