Ashgabat, Turkmenistan, June 9
By Huseyn Hasanov - Trend:
At the end of January-May 2018, the growth of the gross domestic product (GDP) of Turkmenistan amounted to 6.2 percent, the Turkmen government said.
In general, the product output by all ministries and industry agencies increased by 4.3 percent compared to the same period last year.
Almost all industries have achieved high production rates, the message says.
In particular, in the fuel and energy complex, the plan for oil and gas condensate production was completed by 103.1 percent, oil refining-by 102.2 percent, gasoline production – by 100.7 percent, diesel fuel – by 101.5 percent, and lubricants – by 128.3 percent.
Turkmenistan, according to the British Petroleum (BP) report, has the fourth largest natural gas reserve in the world and at this stage exports it to China and Iran.
Ashgabat has set a course to diversify the local economy. The textile industry and the production of petroleum products, the oil and gas chemical industries and the industry for production of building materials are actively developing.
In Turkmenistan, the industrialization is implemented, which is aimed at increasing the production volumes of import-substituting products and development of export.
The World Bank forecasts GDP growth rates of Turkmenistan in 2018 at 6.3 percent; UN-at 4.8 percent.