Turkmenistan's GDP increases by 11 percent in January-July

Business Materials 7 August 2012 13:04 (UTC +04:00)

Turkmenistan, Ashgabat, Aug.7 /Trend H.Hasanov/

Growth in gross domestic product (GDP) In Turkmenistan amounted to 11 percent in January-July 2012, the Turkmen government said on Tuesday.

"The GDP of the country grew by more than 11 percent, there is every reason to believe that this trend will continue in the future" President Gurbanguly Berdymuhamedov said, highlighting the fact that the growth rate of industrial production reached almost 140 percent.

He noted that positive changes are taking place in the construction industry, where growth amounted to 118.4 percent compared to the same period last year, as well as in transport and communications.

Turkmenistan occupies a key position in the region on natural gas supplies - importers are Russia, China and Iran.

At the same time, the government adopted a policy of diversification of the economy - in the last few years developing the oil and gas processing, textile industry and tourism.

In the seven months of this year the growth rate of oil and gas condensate production in the country amounted to 106.7 percent compared to 2011, of natural and associated gas - 112.1 percent. The volume of gas exports increased by 16.1 percent.

The volume of drilling operations increased by 16.6 percent. There is a rapid growth in the production of gasoline 106.8 percent, diesel fuel - 102.5 percent, polypropylene - 110.7 percent, liquefied gas - 125.1 per cent, of lubricating oils - 112.7 percent in the field of petroleum products.