Turkmenistan's GDP up significantly since beginning of 2018
Ashgabat, Turkmenistan, Aug. 7
By Huseyn Hasanov – Trend:
In the first seven months of 2018, the growth of the gross domestic product (GDP) of Turkmenistan amounted to 6.2 percent, the Turkmen government said in a message Aug. 4.
"The growth rate of the national economy is steadily maintained, all programs adopted in the country are successfully implemented," President Gurbanguly Berdimuhamedov said at a Cabinet meeting. "The GDP growth, as before, is at a high level of 6.2 percent. High growth rates are kept in all sectors."
The State Agency Turkmen Dowlet Habarlary reports that during the period the growth rate of oil and gas condensate production was at 102 percent, oil processing at 103.2 percent, gasoline production at 101.4 percent, diesel fuel at 103.8 percent and lubricants at 119 percent.
Compared to the same period of 2017, the growth rate of polypropylene production amounted to 103.2 percent.
According to a BP report, Turkmenistan is the fourth country in the world in terms of natural gas reserves and currently exports it to China and Iran.
Ashgabat aims to diversify the local economy, developing textile industry, production of petroleum products, actively developing oil and gas chemical industries, industry of building materials.
The World Bank predicted 2018 GDP growth in Turkmenistan at 6.3 percent. The UN forecasts 2018 growth of the Turkmen economy at 4.8 percent.