Average annual GDP growth of Turkmenistan at 11 percent
Turkmenistan, Ashgabat, June 15 / Trend H. Hasanov /
The average annual growth of the gross domestic product (GDP) of Turkmenistan totals 11 percent. Compared to 2007, it has increased almost 3.5-fold, and the GDP per capita in purchasing power parity increased by 1.9 times, surpassing the 2012 common threshold for countries with above-average incomes, according to Turkmen Dovlet khabarlary.
The share of industry in GDP for the first four months of 2013 reached 57 percent, construction - 12.2 percent.
According to the report, almost every sector of the economy is rapidly evolving; there is a positive trend in foreign trade turnover, and the state budget is implemented with significant surplus.
Over the past five years, investment in the social and economic spheres of Turkmenistan has increased more than eight-fold, despite the global financial and economic crisis.
In addition, according to the figures released by the UN Conference on Trade and Development (UNCTAD) in the World Investment Report for 2012, Turkmenistan ranks in the top ten countries for the index of foreign direct investment, which amounted to 15.6 percent of GDP .
At present, 1800 economic projects worth over $ 40 billion are under implementation in Turkmenistan.
Large projects are undertaken, in particular in the energy sector, where new hydrocarbon deposits are being rapidly developed, including in the right bank of the Amu Darya and the Caspian Sea shelf as well as the world's largest gas field Galkinish.
The transcontinental line of the Turkmenistan-China gas pipeline along with a new branch of the Turkmenistan-Iran gas pipeline have been built, which will give start to supply of Turkmen gas through new routes.