Turkmenistan expecting high GDP growth in coming years
ASHGABAT, Turkmenistan, Nov. 8
By Huseyn Hasanov– Trend:
The projected economic growth of Turkmenistan from 2019 to 2025 is expected to be in the range of from 6.2 to 8.2 percent, Trend reports referring to the Turkmen government.
The mission of the International Monetary Fund confirmed the stability and competitiveness of the economic development in Turkmenistan.
The volume of Turkmenistan's foreign trade in the first six months of 2019 amounted to $7.2 billion, while exports amounted to $4.7 billion.
From January through September 2019, the growth rate of the gross domestic product (GDP) of Turkmenistan remained at 6.3 percent.
The volume of manufactured products during the reported period increased by 6.9 percent compared to the same period in 2018. According to macroeconomic indicators for this period, the volume of utilized investments from all sources of financing reached 27.3 billion Turkmen manat (about $8 billion).
Turkmenistan, according to a British Petroleum report, ranks fourth in terms of natural gas reserves in the world and at this stage exports it to China and Russia.
Official Ashgabat has embarked on the diversification of the local economy, the textile and petrochemical industries have advanced, the oil and gas chemical industries, and the construction materials industry are actively developing.