Turkmenistan's GDP significantly increases
ASHGABAT, Turkmenistan, Feb. 15
By Huseyn Hasanov – Trend:
An increase rate of Turkmenistan's Gross Domestic Product (GDP) amounted to 6.3 percent in January 2020, Deputy Prime Minister Gadyrgeldy Mushshikov said at a government meeting, Trend reports referring to the Turkmen Dovlat Habarlary state news agency.
The country's GDP increased. The GDP in the industrial sector increased by 4.1 percent, in the construction industry - by 0.3 percent, in transport and communications sector - by 10 percent, in the trade - by 11.1 percent, in the agricultural sector - by 3.1 percent, and in the services sector - by 7.7 percent.
According to a report of 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. In particular, the textile and oil products industries have advanced, and the oil and gas chemical industries, and the construction materials industry are actively developing.