Turkmenistan - Economy
How is the economy of Turkmenistan? Based on the information we have, Turkmenistan has a upper middle-income Central Asian economy; has 10% of global natural gas reserves, exporting to Russia and China; natural resource rich; authoritarian and dominated by state-owned enterprises; major central-south Asian pipeline development. Key agricultural products in this country include: milk, wheat, potatoes, cotton, watermelons, tomatoes, grapes, barley, beef, lamb/mutton (2023).
More about the economy of Turkmenistan
Labor force 2.445 million (2024 est.)
Industrial production growth rate
Industries natural gas, oil, petroleum products, textiles, food processing
Population below poverty line
Taxes and other revenues
Fiscal year
Exchange rates
Currency Turkmenistani manat (TMM) per US dollar -
Exchange rates 2017 4.125 (2017 est.)
Exchange rates 2016 3.5 (2016 est.)
Exchange rates 2015 3.5 (2015 est.)
Exchange rates 2014 3.5 (2014 est.)
Debt - external
Debt - external 2023 $3.696 billion (2023 est.)
Public debt
Public debt 2016 24.1% of GDP (2016 est.)
Budget
Revenues $5.954 billion (2019 est.)
Expenditures $6.134 billion (2019 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 0% of GDP (2023 est.)
Remittances 2022 0% of GDP (2022 est.)
Remittances 2021 0% of GDP (2021 est.)
Average household expenditures
On food 36.5% of household expenditures (2023 est.)
On alcohol and tobacco 2.2% of household expenditures (2023 est.)
Imports
Imports 2023 $7.563 billion (2023 est.)
Imports 2022 $7.362 billion (2022 est.)
Imports 2021 $6.25 billion (2021 est.)
Imports (partners) Turkey 21%, UAE 21%, China 20%, Kazakhstan 8%, Germany 5% (2023)
Comodities Imports force broadcasting equipment, cars, wheat, computers, iron pipes (2023)
Exports
Imports 2023 $7.563 billion (2023 est.)
Imports 2022 $7.362 billion (2022 est.)
Imports 2021 $6.25 billion (2021 est.)
Exports (partners) China 63%, Turkey 11%, Greece 7%, Uzbekistan 6%, Azerbaijan 4% (2023)
Comodities Exports force natural gas, refined petroleum, fertilizers, crude petroleum, electricity (2023)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2024 $134.555 billion (2024 est.)
Real GDP (purchasing power parity) 2023 $131.576 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $123.778 billion (2022 est.)
GDP (official exchange rate) $64.24 billion (2024 est.)
Real GDP Per capita
Real GDP per capita 2024 $18,000 (2024 est.)
Real GDP per capita 2023 $17,900 (2023 est.)
Real GDP per capita 2022 $17,100 (2022 est.)
GDP - composition, by sector of origin
Agriculture 11.3% (2023 est.)
Industry 39.3% (2023 est.)
Services 49.4% (2023 est.)
Unemployment rate
Unemployment rate 2024 4.4% (2024 est.)
Unemployment rate 2023 4.1% (2023 est.)
Unemployment rate 2022 4.2% (2022 est.)
Youth unemployment rate (ages 15-24)
Total 9.6% (2024 est.)
Male 14.7% (2024 est.)
Female 6% (2024 est.)
All Important Facts about Turkmenistan

Want to know more about Turkmenistan? Check all different factbooks for Turkmenistan below.

Turkmenistan is found in Central Asia