GDP of Turkmenistan significantly increases
ASHGABAT, Turkmenistan, Feb. 10
By Huseyn Hasanov – Trend:
The growth rate of Turkmenistan's gross domestic product (GDP) in 2019 amounted to 6.3 percent, country’s President Gurbanguly Berdimuhamedov said at an expanded meeting of the Cabinet of Ministers, Trend reports referring to the Turkmen Dovlat Habarlary state news agency.
“GDP’s growth rate in the industrial sector amounted to 4.1 percent, 14.2 in trade, and 10.1 in transport and communications field. In 2019, export of products increased by 4.6 percent compared to 2018, exceeding 9 billion manat,” the president stated.
The president also noted that 11,000 new jobs were created, inflation was kept in the set parameters, steps were taken to increase the country's competitiveness, and key sectors of the national economy were developing dynamically.
In the meantime, under the country’s programs, the investment in the construction industry amounted to about $35 billion. In 2019, due to all sources of financing, 1,704 industrial and social-cultural facilities worth about $10 billion were commissioned.
The plan for oil refining was made by 100.8 percent, gasoline production - by 100 percent, diesel fuel - by 101 percent, liquefied gas - by 102.8 percent. According to a report by British Petroleum (BP), Turkmenistan ranks fourth in terms of natural gas reserves in the world and at this stage exports it to China and Russia.
Ashgabat has embarked on the diversification of the local economy, advanced the textile and oil products industries. The petrochemical and gas chemical industries, and the production of building materials are actively developing.