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Asia Today ISSN 1861-4604 Tuesday, August 21, 2018

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Turkmenistan’s GDP greatly increases since early 2015

Production growth was ensured at the level of 12.7 percent

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Ashgabat, Turkmenistan, Mar 10 By Huseyn Hasanov– Trend: The growth of the gross domestic product shows the dynamic economic development of Turkmenistan. The figure was 110.1 percent in January-February 2015, the Turkmen Ministry of Economy and Development announced March 10.

Production growth was ensured at the level of 12.7 percent, construction – 8.5 percent, transport and communication – 6.8 percent.

Retail trade turnover volume increased by 15.4 percent in January-February compared to the same period of last year.

"Most of the facilities worth over $50 billion accounted for the social facilities," the statement says.

Large industrial and socio-cultural facilities were built during the reporting period.

The volume of used investments through all sources of financing reached 105.1 percent compared to the same period of 2014.

The ratio of this index to GDP was ensured at the level of 36.2 percent, a statement says.
Turkmenistan ranks fourth in the world’s natural gas reserves. At present, it exports gas to China, Iran and Russia, according to a British Petroleum (BP) report.

Ashgabat chose a course to diversify the local economy. The textile industry, as well as the area of petroleum products, advanced. The oil, gas and chemical industry and the production of building materials are being actively developed.

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