Turkmen GDP jumps by 14.4 percent

Turkmenistan, Ashgabat, July 11 / Trend H.Hasanov /

The GDP growth in Turkmenistan amounted to 114.4 percent and industrial growth amounted to 142.9 percent in the first half of 2011.

The data was announced at the last governmental meeting.

"The state budget was executed with the excess and inflation rate was reduced," the report reads.

Turkmenistan is one of the key players in the energy market in the Caspian region. Production of natural and associated gas in the first half of 2011 grew by 40.2 percent and natural gas exports increased by 77.4 percent. Positive growth was achieved in the refining industry -100.5 percent.

Particularly, an increase was recorded in production of gasoline, diesel fuel and polypropylene, compared to the same period of 2010.

The targets in the drilling were over fulfilled by 14 percent.

The growth rate hit 106.3 percent in the oil and gas condensate production in the first half of 2010 compared to the same period in 2010.

The growth rate of production of all types of mineral fertilizers in the chemical industry amounted to 105.4 percent compared to the same period in 2010. The most rapidly growing rate was recorded on the production of phosphate fertilizers - 111.9 percent and technical iodine - 108.7 percent.

A strong growth as recorded in production volumes. Particularly, the growth of electricity production amounted to more than 118 percent, natural gas - more than 140 percent, oil - 106.3 percent, cement production - more than 110.5 percent, building materials - more than 109 percent and mineral fertilizers - 105.4 per cent.

The high rates were also recorded in agriculture, in particular, cotton production increased - by 133.4 percent.

The U.N. report "World Economic Situation and Prospects for 2011" reads that Turkmenistan will have one of the fastest growing economy in the world in 2011-2012.

U.N. experts expect that Turkmen economic growth in 2011 will amount to at least 10 percent and maintain the same momentum as in 2012.

Local economists note that these positive figures are due to economic diversification and modernization, which have already borne fruit. In 2010, the GDP grew by 9.2 percent. Earlier, the International Monetary Fund (IMF) forecast steady growth of the Turkmen GDP in 2011.

Turkmenistan is one of the key natural gas suppliers in the Caspian region. The country exports gas to China, Russia and Iran.

Turkmen President Gurbangulu Berdimuhammedov said earlier at a government meeting in 2011 that Turkmenistan adopted a "substantial state budget," which will increase the expenditure side by 28.3 percent, or nearly $5 billion.

Uzbekistan's international reserves grow
Uzbekistan's international reserves grow
Uzbekistan Railways plans to resume railway communication with Russia and Kazakhstan
Uzbekistan Railways plans to resume railway communication with Russia and Kazakhstan
Uzbekistan suspends flights to Turkey and India
Uzbekistan suspends flights to Turkey and India
Loading Bars
Iran Khodro Diesel Company boots its production
Azerbaijan’s Baku city always warmly welcoming - Ukrainian gymnast
Uzbekistan's international reserves grow
Sri Lanka approves Pfizer COVID vaccine for emergency use
Turkmenistan signs decree on pardon for Qadr Night
Uzbekistan Railways plans to resume railway communication with Russia and Kazakhstan
Iran's IMIDRO begins study of public and comparative discovery in Albalaq mine
Azerbaijan’s Azerenergy company names winner of tenders for maintenance of IT equipment
Number of Azerbaijani insurance companies entitled to operate within Green Card system increase
Kazakhstan’s Intergas Central Asia company opens tender to attract services
Baku Stock Exchange unveils 4M2021 transactions on corporate securities
Azerbaijan expanding cooperation with Czech Republic in nanotechnologies
Iran reveals COVID-19 data for May 8
Uzbekistan suspends flights to Turkey and India
Scientific conferences, organized by Baku Higher Oil School on occasion of 98th anniversary of National Leader Heydar Aliyev, are coming to an end (PHOTO)
Uzbek ministry extends tender for pumping and power equipment
Saudi Crown Prince, Pakistan’s PM hold talks as bilateral agreements, MoUs signed
Russia records another 8,329 new daily coronavirus cases
Kazakh-Turkish JV launches tender to attract equipment inspection services
Iran's Shahid Tondgooyan Petrochemical Company plans to increase production
Azerbaijani Central Bank makes allocations for software platform support
Israel among 12 ‘green’ countries okayed for UK summer travelers
Rhythmic Gymnastics World Cup in Baku organized at high level - Georgian gymnast
Kazakh oil refinery opens tender to attract examination services
In'tl Judo Federation thanks Azerbaijan for return of previously detained Armenian judoka
Kazakh Gas Processing Plant opens tender on supply of diesel fuel
Interest in Georgian aviation market growing amid COVID-19
Auto sector urges U.S. Congress to help fund its computer chip needs
Iran’s ISOICO declares amount of attracted funds
Mine clearance work on Fuzuli-Ahmadbayli highway continues in Azerbaijan (PHOTO)
Turkmenistan exceeds plan for transport, communication sector
World Cup competitions at Baku National Gymnastics Arena continue (PHOTO)
Georgia reports 1,564 new coronavirus cases for May 8
Data of Turkmenistan’s construction sector revealed
Supplies of Uzbek cherries to foreign markets to decrease
PASHA Capital - 4M2021 leader in Baku Stock Exchange operations
Uzbekistan developing strategy for promoting textile products to EU market
Turkmenistan records growth in agro-industrial production
S. Korean company eyes producing medical devices in Uzbekistan’s Kashkadarya region
Iran’s GTC unveils volume of wheat purchased from farmers
Prices for gold, silver continue to rise in Azerbaijan
Indicators of Turkmenistan’s oil, gas sector growing
Uzbekistan reveals COVID-19 data for May 8
France to impose quarantines for arrivals from 7 more countries, including UAE, Qatar
Turkish Energy Ministry bans local company from participating in BOTAS tenders
Russian, Tajik presidents to discuss bilateral ties, Tajik-Kyrgyz border clashes
EU calls on U.S. and others to export their vaccines
EBRD considers supporting transformation of Uzbek mining and metallurgical combine
Second day of Rhythmic Gymnastics World Cup kicks off in Baku (PHOTO)
Volume of manufactured products increased in Turkmenistan
Latvian cluster partakes in capacity building of engineering companies in Uzbekistan
Fiverr revenue doubles in Q1
Azerbaijani currency rates for May 8
Iranian currency rates for May 8
Iran's Aviation fleet modernization awaiting for Vienna talk results - Iranian Association of Airlines
Azerbaijan sees decrease in oil prices
Fourth round of JCPOA joint Commission held in Vienna
Thailand reports 2,419 new coronavirus cases, 19 new deaths
EU finances Financial Inclusion and Accountability project and DIGITAL RE4M Program in Georgia
IAEA to supply Uzbekistan with equipment for research nuclear reactor
India posts record daily rise in COVID-19 deaths as case numbers surge
Death toll in Mexico City metro overpass collapse rises to 26
About 200 Palestinians injured in clashes with Israeli police in East Jerusalem
Latvia invites Georgian companies to use its ports for logistics services
Biden administration joins global campaign against online extremism
Brazil welcomes U.S. call for talks on vaccine patents
Libya armed groups raid hotel where presidency met, its spokeswoman says
Cybercriminals developing "smart" swarm attack technologies - Fortinet
EU calls on U.S. and others to exports their vaccines
Brazil eyes new Pfizer deal next week for 100 million more COVID-19 shots
Biden concerned about Iran's seriousness in Vienna talks
Israel reports 41 new COVID-19 cases, 838,858 in total
Russia continues analyzing situation around possible Putin-Biden summit — Kremlin
Number of COVID-2019 cases across globe up by over 839,000 in past day — WHO
UK records another 2,490 coronavirus cases, 15 deaths
Azerbaijan, 10 other OSCE countries call to prevent Nazi glorification - joint statement
"You are free, dear Shusha!" - this May 8 we are in Shusha
Azerbaijani wrestler Alice Manolova wins license for 2020 Summer Olympics in Tokyo
Iran's CBI warns people of losses of trading cryptocurrencies
Large-scale Covid vaccination sites to be set up in 4 main cities of Georgia
New daily COVID-19 cases in Turkey drops to 20,107
Azerbaijani FM holds meeting with ADB Director for Azerbaijan (PHOTO)
Difficulty of my exercises at World Cup in Baku higher than in two previous competitions - Azerbaijani gymnast Arzu Jalilova
Biden says he’s confident in one-on-one meeting with Putin
Azerbaijani embassy denounces decision of Latvian parliament on events of 1915
Kazakhstan boosts goods import from Denmark
Georgian State Electrosystem plans to issue bonds
Establishment of free trade zone in Iran's Ardabil Province to improve trade - MP
Chief of ADB's Energy Sector Group unveils details on ADB Draft Energy Policy
Azerbaijani team express satisfaction for participating in Rhythmic Gymnastics World Cup
Azerbaijani team in group exercises reaches final of Rhythmic Gymnastics World Cup in Baku
Revenues from customs duties increase in Azerbaijan
Austrian IT company discloses volume of entire internet traffic accounting for people in 2020
Azerbaijan's 4M2021 revenues from State Customs Committee unveiled
Azerbaijan almost doubles export of aluminum
Azerbaijan partially resuming traditional form of education
Armenia experiences continuous population decline
EU to continue activity in Azerbaijan in field of green economy - Head of EU delegation
Head of EU Delegation to Azerbaijan talks possibilities of resuming int'l travel
Group teams perform at National Gymnastics Arena as part of Rhythmic Gymnastics World Cup in Baku (PHOTO)
All news