Turkmenistan's economy in numbers:
Nominal GDP of USD 67.0 billion in 2022.
Nominal GDP of USD 78.0 billion in 2022.
GDP per capita of USD 10,420 compared to the global average of USD 10,589.
GDP per capita of USD 12,501 compared to the global average of USD 10,589.
Average real GDP growth of 1.3% over the last decade.
Average real GDP growth of 1.6% over the last decade.
Economic structure:
In 2019, services accounted for % of overall GDP, manufacturing 20%, other industrial activity 69%, and agriculture 11%. Looking at GDP by expenditure, private consumption accounted for 12% of GDP in 2020, government consumption 10%, fixed investment 47%, and net exports 31%.International trade:
In 2000, manufactured products made up 7% of total merchandise exports, mineral fuels 81%, food 0%, ores and metals 0% and agricultural raw materials 10%, with other categories accounting for 2% of the total. In the same period, manufactured products made up 80% of total merchandise imports, mineral fuels 1%, food 12%, ores and metals 1% and agricultural raw materials 0%, with other goods accounting for 6% of the total. Total exports were worth USD 6 billion in 2020, while total imports were USD 3 billion.Economic growth:
The economy recorded average annual growth of 1.6% in the decade to 2022. To read more about GDP growth in Turkmenistan, go to our dedicated page.
Fiscal policy:
Turkmenistan's fiscal surplus averaged 0.4% of GDP in the decade to 2022. Find out more on our dedicated page.
Unemployment:
The unemployment rate averaged 4.3% in the decade to 2022. For more information on Turkmenistan's unemployment click here.
Inflation:
Inflation averaged 8.4% in the decade to 2022. Go to our Turkmenistan inflation page for extra insight.
Exchange Rate:
From end-2012 to end-2022 the manat weakened by 17.1% vs the U.S. dollar. For more info on the manat, click here.
25 indicators covered including both annual and quarterly frequencies.
Consensus Forecasts based on a panel of 8 expert analysts.
Want to get insight on the economic outlook for Turkmenistan in the coming years? FocusEconomics collects projections out to 2034 on 25 economic indicators for Turkmenistan from a panel of 8 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Turkmenistan economy. To download a sample report on the Turkmenistan's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.