Expert Trapeznikov sums up development of Turkmenistan economy over 8 months

The analyst noted that growth of the gross domestic product reached 6.2%.

On the 32nd anniversary of state independence, Turkmenistan demonstrated numerous achievements in socio-economic development. Thus, at the meeting of the Halk Maslakhaty dedicated to the significant date, it was reported that the growth of gross domestic product during the year remained steadily at 6,2%.

In the article for, economic analyst from Turkmenistan Valentin Trapeznikov noted that the high performance of the economy is ensured by the dynamic development of all fields of both the real and service sectors of the economy.


In GDP, industry growth reached   6,0%, agriculture — 4,3%, the transport and communications sector — 6,5%, trade — 8,7%, other services — 6,9%.

The high dynamics of socio-economic development is the result of an active investment policy. During the meeting of the Halk Maslakhaty, President of Turkmenistan Serdar Berdimuhamedov emphasized that this year it is planned to invest 37.4 billion manats in the production and socio-cultural spheres.

The industrial orientation of the economy of Turkmenistan is still active. Thus, the share of industry in the structure of the GDP is 32,7%. At the same time, the share of agriculture is 10,1%, transport and communications — 10,2%, construction 5,3%, trade — 19,3%, other services — 22,4%.  

Oil and gas sphere

The flagship of industrial development is the oil and gas complex. For 8 months of this year, the implementation of the plan for oil production amounted to 100,4%, gasoline production — 103,3%, diesel fuel — 104,1%, lubricating oils — 111,8%, liquefied gas — 111,7%. The plan for the production of natural and associated gas was fulfilled by 109,3%, and its export — by 114,4%. The indicator for the development of investments in oil and gas complexes was 111,5%.

The head of state said that the priority tasks for the oil and gas complex include the diversification of natural gas supplies to world markets, the implementation of large projects for the extraction and processing of oil and gas resources, the production of high-quality products at the level of world standards, attracting foreign investment and the introduction of new technologies, completing the construction of the TAPI gas pipeline, and developing the oil and gas industry science, carrying out seismic and geological exploration work and more.

Electric power industry

Good results have also been achieved in the electric power industry. For 8 months, the growth rate of electricity production was 105,6%, and its export — 101,7%.

Textile industry

At the enterprises of the Ministry of Textile Industry, the production volumes of cotton yarn and fabrics amounted to 102,7% and 106,1%, respectively, sewing and knitwear — 100,9%, leather — 104%. The volume of disbursed investments reached almost 440 million manats.

At the meeting of the Halk Maslakhaty, President Serdar Berdimuhamedov noted that the state carried out large-scale work to develop the light industry and strengthen Turkmenistan’s position among large producers of textile products.

Chemical sphere

Over 8 months of this year, the Türkmenhimiýa state concern has produced goods and provided services worth more than 1.5 billion manats.


At the meeting of the Halk Maslakhaty, the head of state also noted the great work being done in the construction and industrial complex to create innovative industries and radically transform the social and living conditions of the population. He expressed confidence that the Arkadag smart city, which was built by domestic builders and received 21 international awards, will become a major center of scientific, educational, cultural and international cooperation. In this regard, the president of the country proposed to prepare a concept for the development of Arkadag for 2024–2052. The strategy will allow the city to take a worthy place in the world.

The main motto of the state is «build and create». President Serdar Berdimuhamedov emphasized that the country is creating every opportunity to increase the capacity of the construction industry and develop the production base of private entrepreneurship in this direction. The state has accumulated positive experience in the production of non-metallic building materials, cement, expanded clay, and building glass.


Time requires new ideas and innovative production. In this regard, based on the industrialization of the economy, while producing smart TVs, laptops, tablets and other modern equipment, Turkmenistan will be able to increase the competitiveness of electronic products exported to the world market.

According to the head of state, increasing cooperation between the Academy of Sciences, scientific institutions and higher educational institutions with manufacturing enterprises, as well as the creation of new enterprises should become the basis for future achievements.

Agro-industrial complex

Over 8 months of 2023, the growth in agro-industrial production amounted to 104,4%, and the plan for the development of investments was fulfilled by 237,8%.

At the meeting of Halk Maslakhaty, President Serdar Berdimuhamedov noted that the fundamental changes in the industry are aimed at increasing the volume of production and export of various high-quality agricultural products and ensuring food abundance. This year, the industry will receive 1.6 billion manats of capital investment. The head of state also emphasized that in order to introduce international experience in agriculture and livestock farming, the country should develop cooperation with the leading countries of the world.

Private sector

The domestic private sector plays an important role in the above economic achievements. In particular, according to the Union of Industrialists and Entrepreneurs of Turkmenistan (UIET), the growth in production of agricultural and food products reached 108,5%, and industrial production — 107,1%. The contribution of UIET members in almost all sectors is steadily growing.

Head of Turkmenistan noted: «We pay special attention to creating favorable conditions for strengthening the position of the private sector of the national economy in world markets. We provide comprehensive assistance in the development of new and existing markets». In this context, he emphasized the need to develop concepts for the development of the non-state sector of the economy and the sphere of services provided, support for import-substituting production, as well as a strategy for promoting the development of export-oriented industry.


The transport and communications complex of Turkmenistan also makes a significant contribution to the economic development of the country. Thus, during the analyzed period, the growth rate of work performance and provision of services as a whole for the complex amounted to 123,8%. At the same time, the growth rate of cargo transportation by all types of transport reached 106,2%, and passenger transportation — 104,6%.

According to the agencies that are part of the transport and communication complex, the rate of growth in the provision of services is: Türkmendemirýollary — 107,2%, Türkmenawtoulaglary — 117,7%, Türkmenhowaýollary — 245,9%, Türkmendeňizderýaýollary — 107,1%, Türkmenaragatnaşyk — 111,8%.

At the meeting of the Halk Maslakhaty, president of Turkmenistan emphasized that the country takes an active part in resolving the most important international issues of energy security and development of transport infrastructure. The state is participating in the construction of transport, transit and energy corridors North-South and East-West connecting Asia and Europe. The head of state expressed confidence that in the next decade Turkmenistan will become one of the main countries in Eurasia with transport and energy systems.

Summarizing all of the above, it should be noted that independent Turkmenistan is confidently moving along the path of economic development and progress, striving for the prosperity of the entire country and ensuring a happy and prosperous life for its people.

07 10 2023, 16:16
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