Country Report 2017 - Browse a full set of economic indicators

Turkmenistan

Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Turkmenistan economic outlook, debt to GDP ratio, international trade performance and population trends. 

Basic Information

Government Type: Presidential republic; highly authoritarian

Capital City: Ashgabat (Ashkhabad)

GDP & Economic Information

Macroeconomy & Sovereign Data

Central Bank Central Bank of Turkmenistan
Currency Turkmen manat (TMM)
International Reserves N/A
Gross Domestic Product – GDP USD 44.1 billion (2018, estimate)
GDP (Purchasing Power Parity) Intl$ 112.7 billion (2018, estimate)

GDP Data

Real GDP growth 2014 10.3%
2015 6.5%
2016 6.2%
2017* 6.5%
2018* 6.2%

*Estimate
GDP per capita – current prices USD 7,645.9 (2018, estimate)
GDP per capita – PPP Intl$ 19,527.2 (2018, estimate)
GDP (PPP) – share of world total 0.09% (2019, estimate)
GDP – composition by sector agriculture: 7.5%
industry: 44.9%
services: 47.7%
(2016 estimate)
Gross domestic expenditure on R&D; (% of GDP) N/A
Inflation 2014 7.4%
2015 3.6%
2016 8%
2017* 13.2%
2018* 13.4%

*Estimate

Turkmenistan

Economics, Policy & Regulation

KAZAKHSTAN: GRANDIOSE AMBITIONS

Emerging & Frontier Markets

Hot Commodities

Emerging & Frontier Markets

Emerging Markets Focus: CEE

Inflation & Debt

Inflation 2014 7.4%
2015 3.6%
2016 8%
2017* 13.2%
2018* 13.4%

*Estimate
Government Bond Ratings N/A
Unemployment rate N/A
Household saving rates N/A
Public debt (General government gross debt as a % of GDP) 2014 21.8%
2015 24.1%
2016 28.8%
2017* 29.1%
2018* 30.3%

*Estimate
Public deficit (General government net lending/borrowing as a % of GDP) 2014 -0.7%
2015 -2.4%
2016 -2.8%
2017* -0.2 0.2 0.2 0.2 0.2%
2018* -0.1%

*Estimate

Market value of publicly traded shares N/A
Largest Companies N/A

Import/Export

Exports as percent of GDP (Exports of goods and services) 22.7% (2018)
Shares in world total merchandising export 0.05% (2018)
Shares in world total commercial services export N/A
Total exports N/A
Export commodities Gas, crude oil, petrochemicals, textiles, cotton fiber
Total imports N/A
Import commodities Machinery and equipment, chemicals, foodstuffs
Exports – major partners China 83.7%, Turkey 5.1% (2017)
Imports – major partners Turkey 24.2%, Algeria 14.4%, Germany 9.8%, China 8.9%, Russia 8%, US 6.6% (2017)

Competitiveness & Trade

Current account balance USD 2.3 billion (2018 estimate)
Current account balance by percentage of GDP 5.7% (2018 estimate)
FDI inflows 2016 USD 2,243 million
2019 USD 2,086 million
2020 USD 1.985 million
FDI Outflows N/A
Value of cross-border M&A, by country of purchaser N/A


United Nations Conference on Trade and Development (UNCTAD) – World Investment Report
Cross-border M&A deals worth over $3 billion completed in 2014 N/A
Cross-border M&A deals worth over $3 billion completed in 2015 N/A
Best countries for doing business N/A
Global competitiveness ranking N/A
Index of Economic Freedom Ranking: 164 / Score: 48.4 (Repressed) (2016)

(100=totally free 0=totally repressed)

Population & Geographic Data

Total Area 488,100 sq km
Total Population 1990 N/A
2000 4.53 Million
2010 5.09 Million
2015 5.57 Million
2020 6.03 Million
Urban population as % of total population 1960 46.4%
1980 47.1%
2000 45.9%
2020 51.6%
Population median age 28.3 years (2018 estimate)


CIA World Factbook / Population median age
Population growth rate 1.1% (2018 estimate)
Life expectancy 70.7 years (2018 estimate)


CIA World Factbook / Life expectancy
% of population living on less than $3.10 a day N/A
Inequality of wealth distribution (Gini index) N/A
Freedom House rating Political Rights: 7
Civil Liberties: 7 (2019)

(1 represents the most free, 7 the least free rating)
Total telephone subscribers as % of population Fixed 11.8% Mobile 162.9% (2017)
(fixed-telephone subscribers and mobile-cellular subscribers)
Internet users as % of total population 21.25% (2017)

Language & Religon

Languages Turkmen (official) 72%, Russian 12%, Uzbek 9%, other 7%
Literacy Total population: 99.7%
Male: 99.8%
Female: 99.6% (2015 est.)

(age 15 and over can read and write)
Religions Muslim 89%, Eastern Orthodox 9%, unknown 2%

World Rankings

Population 6.03 million
Mercer Cost of living index Ashkhabad: 7th (2019)

Ashkhabad: 7th (2019)
C02 Emissions per capita 12.52 (2014)

Global Finance Rankings & Awards: Turkmenistan

Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.

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Data Sources:

IMF World Economic Outlook

UN World Population Prospects

World Inequality Report

S&P Global Ratings

Moody’s

Fitch Ratings

IMF Direction of Trade Statistics (DOTS)

UN Conference on Trade and Development (UNCTAD)

CIA The World Factbook

World Bank’s World Integrated Trade Solution

Forbes Global 2000

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