Turkmenistan's GDP grows significantly since beginning of 2019

Business Materials 7 June 2019 13:33 (UTC +04:00)

Ashgabat, Turkmenistan, June 7

By Huseyn Hasanov – Trend:

The GDP growth of Turkmenistan for January-May 2019 amounted to 6.2 percent, Trend reports referring to the Turkmen government.

The corresponding report was presented at a meeting of the Cabinet of Ministers of Turkmenistan. Production as a whole increased by 6.3 percent, compared to the same period last year.

The plan for the extraction of natural and associated gas was fulfilled by 104.2 percent, while that of oil refining was fulfilled by 103.8 percent, of gasoline production by 101.1 percent, diesel fuel by 103.6 percent, lubricating oils by 115.3 percent, liquefied gas by 106.2 percent, and the plan for the development of investments was implemented by 105.1 percent.

According to a report by British Petroleum (BP), Turkmenistan ranks 4th in terms of natural gas reserves in the world and currently exports it to China and Russia. Ashgabat has set a course for the diversification of the local economy. Advancements have been made in textile and petroleum industries, and active developments are observed in the oil, gas, chemical, and building materials industries.