Turkmenistán Economy

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.

Our Consensus is for the economy to have seen a similar growth rate this year compared to last, though official data is scarce. Advances in major infrastructure projects such as the Ashgabat-Turkmenabat motorway and Arkadag City have likely aided investment, while higher wages and pensions will have boosted consumption. Moreover, the launch of a single export-import window has boosted transport activity. However, the energy sector appears to have lost steam. Oil production was largely flat in January–June versus the same period in 2023, while gas output was reported to have fallen year-on-year in the same six-month period due to stalled negotiations over gas swap agreements with Azerbaijan. Additionally, exports to China—which are almost all hydrocarbons—were roughly stagnant in January–September compared to the same period last year.

Projections out to 2034.

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 This means you avoid the risk of relying on out of date, biased or outlier forecasts.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.