Turkmen market switches from stuff export to domestic demand: state statistical committee

Business Materials 14 January 2010 18:31 (UTC +04:00)

Turkmenistan, Ashgabat, Jan. 14 / Trend H. Hasanov /

Turkmenistan is a bright example of the country with forming market. During 2009 it has switched from stuff export to domestic demand, the State Statistics Committee's analysis said.

It allowed to preserve growth rates of GDP at a rather high level. According to preliminary data, it hits more than 106 percent.

The favorable fact is that Turkmenistan, as opposed to many countries, greatly invested in the construction of industrial and socio-cultural facilities during the global financial crisis. The highest growth rates in 2009 were observed in construction.

The share of foreign investments amounted to about 30 percent. The State Statistical Committee said it testifies about foreign investors' confidence of Turkmenistan's economic rating, as outflows of foreign capital and the fall in investment activity are observed in many countries because of the global financial crisis.