Turkmen GDP grows

Turkmenistan Materials 8 September 2018 10:20

Ashgabat, Turkmenistan, Sept. 8

By Huseyn Hasanov– Trend:

According to the results of first eight months of 2018, the growth of the Turkmen gross domestic product (GDP) amounted to 6.2 percent.

Turkmenistan, according to British Petroleum's (BP) report, is the fourth largest country in terms of natural gas reserves and at this stage exports it to China and Iran.

Turkmenistan is in the process of diversifying its local economy. The country's textile, oil products, chemical and construction materials industries are actively developing.

Turkmenistan is carrying out industrialization aimed at increasing the production volume import-substituting products and developing exports.

The World Bank predicted GDP growth in Turkmenistan in 2018 by 6.3 percent, while the United Nations' (UN) prediction for 2018 was 4.8 percent.