Turkmenistan’s GDP increases by almost 10 per cent since early 2013
Turkmenistan, Ashgabat, Aug. 6 / Trend H. Hasanov /
According to preliminary data, Turkmenistan's Gross Domestic Product (GDP) growth was estimated at 109.7 per cent for the seven months of 2013, the Turkmen Ministry of Economy and Development said today.
As of January-July 2012, Turkmenistan's GDP growth was 111 per cent. Production growth hit 112.8 per cent for seven months of 2013 compared to the same period of last year.
'The high production figures were achieved in virtually all sectors', a statement said.
The retail trade turnover volume increased by 19.7 per cent for the first seven months of this year compared to the same period of 2012.
Investments from all sources of financing increased by 7.9 per cent compared to the same period of 2012. The ratio of this index to GDP increased to 45.2 per cent.
Turkmenistan holds one of the key positions in the region in terms of natural gas supplies. Russia, China and Iran are importers.
The country's leadership has taken the course for economic diversification. The oil and gas processing sphere, textile industry, cotton processing industry and production of construction materials have been recently developed.
The growth in oil and gas condensate production, the volume of oil processing and the production of oil products, as well as petrol, lubricants and liquefied gas was observed for the first seven months of 2013 compared to the same period of 2012.
In the reporting period, priority was given to drilling the exploratory and new exploitation wells. This resulted in the growth rate of drilling operations reaching 124.6 per cent compared to the same period last year.