Turkmenistan maintains growth in industrial sector

Expert Valentin Trapeznikov spoke about the dynamics of development based on the results of key indicators.

Today’s Turkmenistan is confidently implementing its goals aimed at a sustainable growth of domestic economic platforms. In an interview to CentralAsia.news, Valentin Trapeznikov, an economic observer, summed up the indicators of high dynamics of development in the field of industrialization of the country.

The expert analyzed how industrialization promotes the growth of industry naturally. The analyst presented the five-month results of the development of the national industrial sector.

Сomplexity of the process

The results of the economic development of Turkmenistan for 5 months of 2022 show intensive industrialization. Thus, the share of industry in the structure of GDP reached 31,7%, which is 5,5% higher than in 2021. The growth rate of gross value added of industrial output in comparable prices amounted to 8,1%, which is the highest rate among the sectors of the real sector of the economy.

The industrialization of the economy of Turkmenistan turned out to be an industry which demonstrated the increase of the share in GDP in comparison with the previous year.

Industrial development, which is confirmed by rather high growth rates of production in almost all industrial sectors, shows complexity.

Energy sector and light industry

Thus, natural gas production and oil refining increased in the oil and gas complex. At the same time, compared to the previous year, the increase in the production of gasoline amounted to 3,9%, diesel fuel — 1,7%, LNG — 16,3%, lubricating oils — 12,3%, petroleum coke — 9,0%, petroleum bitumen — 5,6%, kerosene — 2,4%. Due to the processing of oil and gas resources, the production of polyethylene and polypropylene also increased — by 34,6% and 8,7%, respectively.

In the chemical industry, the production of mineral fertilizers increased by 6,0%, iodine — by 5,2% and technical carbon — by 2,4%. In addition, the production of gas-gasoline increased by 14,9% and pharmaceuticals — by 2,3%.

Good performance was achieved in the production of electricity. Its gross volume increased by 11,3%.

The light industry, which has shown intensive development during the years of independence, is of great importance. The industry unites a whole complex of sectors, including the textile, clothing, leather and footwear, and silk sectors. According to the results of five months, there was an increase in the production of cotton yarn (by 33,7%), cotton fabrics (26.9%), knitted fabrics (3.0%), garments and knitwear (4.3%), dressed leather (4 ,four%). The production of footwear, silk fabrics and products made of them is also increasing.   

The building materials industry is actively developing. So, in comparison with 2021, the production of cement increased by 46,8%, precast concrete structures — by 31,7%, rebar, angles and profiles — by 1,8%, expanded clay — by 2,5% and sheet glass — 0 .6%. Industry enterprises also produce a wide range of other building materials, including roofing, finishing, various plumbing products and more.

Electronics and food industry

Domestic manufacturers have mastered the production of computers, monoblocks, Wi-Fi routers, smart TVs, smartphones, electric water heaters, lighting fixtures and much more.

Traditionally, the food industry demonstrates high dynamics. In the analyzed period, the growth rate in the production of sausages was 36,2%, confectionery — 29,8%, canned fruits and vegetables — 21,8%, butter — 12,3%, whole milk products — 8,1%, bakery products — 4, 9%, soft drinks — 5,7%. In addition, the production of flour, cereals, pasta, as well as fish and fishery products has increased.

The non-state sector in industrial development plays an important role in the economy. Thus, over the five months of this year, the non-state sector increased the production of silk fabrics (growth rate of 2,5%), garments and knitwear (2.7%), confectionery (32.6%) and sausages (39.8%), whole milk products (10.0%), butter (22.2%), canned fruits and vegetables (39.9%), bakery products (5.6%), cereals (40.8%), mineral waters and soft drinks (7.1%).

Representatives of the domestic private sector are also actively involved in the production of building materials, footwear, plastic products and other industrial products.

Intensive industrial development contributed to the growth of the country’s export potential. In general, over the five months, deliveries to the foreign market increased by almost one and a half times — by 49,6%. The most significant increase was noted in the export of electricity (more than 1.5 times), sulfur (2.5 times), LNG (more than 1.5 times), gas-gasoline (45.9%), sugar confectionery (50.0%), licorice root extract (44.4%), products of inorganic chemistry (57.5%), raw leather (17.9%), clothing and finished textile products (17.8%).

16 07 2022, 09:46
Photo source: CentralAsia.news

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