Economy, Finance and Trade: Turkmenistan

March 2023

The report examines the economic landscape of Turkmenistan, providing information on major monetary indicators, foreign trade, investments and government finance. The economy in Turkmenistan grew in real terms in 2022, driven by rising public and private spending, capital investment and external demand. Yet the global economic slowdown, elevated inflation, and tightening financial conditions are set to hamper business and consumer confidence globally, weighting on the country’s economic outlook.

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The Country Briefings series examine market potential, economic and consumer trends impacting each country and how they are set to change.

Each Country Briefing covers one of these topics:

Economy, Finance and Trade: Understanding the structure, health and potential risks of an economy are important for decision-making within an existing operating environment as well as for expansion strategies. Real GDP growth, inflation and exchange rate fluctuations will directly impact consumer market potential. Import and export trade profiles help gauge how open an economy is to trade and investment, while analysis of government finances can be used to explore macroeconomic stability and susceptibility to economic shocks.

Income and Expenditure: Insights into income, wealth and expenditure of consumers are vital in helping businesses make strategic decisions with regards to which country (or even which region within a country) to enter, which consumer segment to target, which products or services to market, and at which price point. Other factors such as the size and expansion of the middle class and income inequality are also important in helping companies gauge the potential of a country market.

Households: Global shifts in gender, ageing, migration and housing are transforming the size, location,  general make-up as well as income and expenditure of households around the globe, with diverse implications for governments and companies. Households insights can help identify the decision-making processes and consumption tastes of different household groups and types within a country, and assess household appliance and digital readiness that is key for formulating market technology and internet strategies.

Business Dynamics: A stable and competitive business environment is vital to operate efficiently and attract inward investment. Businesses can assess these factors alongside challenges such as corruption, political instability and terrorism, also gain insight into business operating environment and make strategic investment decisions. Transport infrastructure, ICT readiness and labour force dynamics will also identify potential issues with a supply chain and the level of workforce skills.

Commodities: Insights on key sectors directly related to the environmental commodities of a country such as energy, water, pollution, environmental resilience, forest and biodiversity and food and agriculture help businesses to make strategic decisions in relation to environmental and commodities trends, improve brand reputation and ensure long-term operations while ultimately growing the bottom line.

The briefings cover 103 countries and identify topics of crucial interest to planners, marketers and researchers.

Economy, Finance and Trade: Turkmenistan


Chart 1 Economic Landscape of Turkmenistan 2022-2027
Chart 2 Real GDP Growth in Turkmenistan 2010-2027
Chart 3 GDP Size and Growth 2017-2027
Chart 4 Domestic Demand 2022 and Period Growth 2017-2022
Chart 5 Inflation 2017-2027
Chart 6 Average Inflation 2017-2027
Chart 7 Exchange Rates 2017-2024
Chart 8 Foreign Trade Landscape of Turkmenistan 2022
Chart 9 Exports and Export Price Index in Turkmenistan 2017-2022
Chart 10 Exports by Commodity in Turkmenistan 2022
Chart 11 Top 10 Export Destinations 2022 and Period Growth 2017-2022
Chart 12 Imports and Import Price Index in Turkmenistan 2017-2022
Chart 13 Imports by Commodity in Turkmenistan 2022
Chart 14 Top 10 Import Origins 2022 and Period Growth 2017-2022
Chart 15 Investment Landscape of Turkmenistan 2021-2022
Chart 16 Foreign Direct Investment Inflows and FDI intensity 2021
Chart 17 Foreign Direct Investment Inflows in Turkmenistan 2016-2021
Chart 18 Gross Fixed Capital Formation in Turkmenistan 2017-2022
Chart 19 Government Budget Landscape of Turkmenistan 2022
Chart 20 Public Debt 2022
Chart 21 Government Revenue 2022
Chart 22 Government Expenditure 2022

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