ASHGABAT, Turkmenistan, Nov. 16

By Huseyn Hasanov – Trend:

The growth rate of Turkmenistan’s gross domestic product (GDP) has reached 6.3 percent from January through October 2019, Trend reports Nov. 16 referring to the Turkmen government.

Turkmen Deputy Prime Minister Gochmyrat Myradov made a report at an expanded meeting of the Cabinet of Ministers.

The volume of manufactured products increased by 6.9 percent from January through October 2019 compared to the same period of 2018.

The volume of retail trade turnover increased by 19.1 percent while foreign trade turnover by 4.2 percent from January through October 2019 compared to the same period of 2018.

Turkmenistan, according to a British Petroleum (BP) report, ranks fourth in terms of natural gas reserves in the world and currently exports it to China and Russia.

Ashgabat is looking for new gas export routes; at the same time, it is conducting large-scale diversification of the economy.

Presently, the textile and oil products industries have advanced, the oil and gas chemical industries and the building materials industry are actively developing.