Turkmen GDP ups by 11.1 per cent since early 2012

Photo: Turkmen GDP ups by 11.1 per cent since early 2012  / Turkmenistan

Turkmenistan, Ashgabat, Dec. 13 / Trend H. Hasanov /

Turkmenistan ensured a stable growth rate of gross domestic product (GDP) from January to November 2012. It hit 11.1 percent compared to the same period of last year, the Turkmen Ministry of Finance said today.

The industry's share of GDP was 52 percent due to the progressive measures for economic industrialization.

The growth rate of production was ensured at 120.2 percent compared to the same period of 2011, the report said.

The results of the Turkmen social and economic development were summarized at the governmental meeting.

"We have consistently supported the growth of the gross domestic product," Turkmen President Gurbanguly Berdimuhamedov said. "The rate of growth during its reporting period amounted to 11.1 percent. As before, we make large investments to the economy. They increased up to 135.9 percent compared to the previous period. The salary increased by 11.1 percent."

He said that while developing the national economy, the country's leadership has taken the right course in its comprehensive modernization, diversification and gradual transition to market relations.

"In this case, while gradually introducing market relations, we keep the elements of state regulation, which helps us to render significant social support," the Turkmen leader said.

The volume of retail trade turnover during the period amounted to 117.9 percent compared to the same period of 2011. The index on foreign trade turnover was fulfilled to the amount of 129.8 percent in January-October 2012.

Turkmenistan holds one of key positions in the region for the supply of natural gas. Russia, China, Iran are importers.

The leadership of the country has taken a course to diversify the economy. Oil and gas processing, textile, cotton processing industries and production of building materials have been recently developing.

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