Turkmenistan’s GDP grows since early 2018
Ashgabat, Turkmenistan, March 3
By Huseyn Hasanov - Trend:
Turkmenistan’s GDP increased 6.2 percent in January-February 2018, the Turkmen government said in a message March 3.
Turkmenistan’s GDP increased in industrial complex by 4.8 percent, in transport and communications sector – by 10.4 percent, in trade – by 8.4 percent, in agriculture – by 3.4 percent, and in service sector – by 10.1 percent.
The growth rate of production reached 4 percent and the retail trade increased by 18.1 percent in January-February 2018 compared to the same period of 2017.
Prices for consumer goods as well as tariffs for services to the population remained unchanged, while export of goods increased by 18 percent.
According to BP, Turkmenistan ranks fourth in the world for its natural gas reserves. The country supplies gas to China and Iran. Turkmenistan is diversifying its economy, developing the textile and oil products industry, actively developing oil and gas chemical industries and the industry of construction materials.
The World Bank predicted GDP growth at 6.3 percent in Turkmenistan in 2018. The UN forecasts an increase of 4.8 percent in the Turkmen economy in 2018.