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, cotton, wheat, potatoes, watermelons, tomatoes, grapes, beef, sugar beets, lamb/mutton (2022).
More about the economy of Turkmenistan
Labor force 2.163 million (2023 est.)
Industrial production growth rate 4.3% (2014 est.)
Industries natural gas, oil, petroleum products, textiles, food processing
Population below poverty line
Taxes and other revenues 14.9% (of GDP) (2017 est.)
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 31 December 2017 $539.4 million (31 December 2017 est.)
Debt - external 31 December 2016 $425.3 million (31 December 2016 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 31 December 2017 $24.91 billion (31 December 2017 est.)
Reserves of foreign exchange and gold 31 December 2016 $25.05 billion (31 December 2016 est.)
Current account balance
Current account balance 2017 -$4.359 billion (2017 est.)
Current account balance 2016 -$7.207 billion (2016 est.)
Public debt
Public debt 2017 28.8% of GDP (2017 est.)
Budget
Revenues $5.954 billion (2019 est.)
Expenditures $6.134 billion (2019 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2022 0% of GDP (2022 est.)
Remittances 2021 0% of GDP (2021 est.)
Remittances 2020 0% of GDP (2020 est.)
Average household expenditures
On food 36.9% of household expenditures (2021 est.)
On alcohol and tobacco 2.2% of household expenditures (2021 est.)
Imports
Imports 2021 $6.25 billion (2021 est.)
Imports 2020 $8.301 billion (2020 est.)
Imports 2019 $8.844 billion (2019 est.)
Imports (partners) UAE 27%, Turkey 24%, China 19%, Kazakhstan 7%, Germany 4% (2022)
Comodities Imports force broadcasting equipment, cars, wheat, computers, iron structures (2022)
Exports
Imports 2021 $6.25 billion (2021 est.)
Imports 2020 $8.301 billion (2020 est.)
Imports 2019 $8.844 billion (2019 est.)
Exports (partners) China 71%, Turkey 7%, Uzbekistan 5%, Azerbaijan 4%, Morocco 2% (2022)
Comodities Exports force natural gas, refined petroleum, fertilizers, crude petroleum, electricity (2022)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2022 $94.79 billion (2022 est.)
Real GDP (purchasing power parity) 2021 $93.205 billion (2021 est.)
Real GDP (purchasing power parity) 2020 $89.192 billion (2020 est.)
GDP (official exchange rate) $59.887 billion (2023 est.)
Real GDP Per capita
Real GDP per capita 2022 $14,700 (2022 est.)
Real GDP per capita 2021 $14,700 (2021 est.)
Real GDP per capita 2020 $14,300 (2020 est.)
GDP - composition, by sector of origin
Agriculture 7.5% (2017 est.)
Industry 44.9% (2017 est.)
Services 47.7% (2017 est.)
GDP - composition, by end use
Household consumption 50% (2017 est.)
Government consumption 10% (2017 est.)
Investment in fixed capital 28.2% (2017 est.)
Investment in inventories 0% (2017 est.)
Exports of goods and services 26.2% (2017 est.)
Imports of goods and services -14.3% (2017 est.)
Unemployment rate
Unemployment rate 2023 4.12% (2023 est.)
Unemployment rate 2022 4.12% (2022 est.)
Unemployment rate 2021 4.45% (2021 est.)
Youth unemployment rate (ages 15-24)
Total 9.1% (2023 est.)
Male 13.9% (2023 est.)
Female 5.7% (2023 est.)
All Important Facts about Turkmenistan

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Turkmenistan is found in Central Asia