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Turkmenistan’s GDP greatly increases since early 2014

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chinaca0Turkmenistan’s gross domestic product (GDP) volume increased by 10.3 percent in January-October 2014, the Turkmen economy and development ministry said Nov. 10.

“The GDP growth rate was achieved at the level of 110.3 percent in accordance with the same period of 2013,” a statement says. “The output growth rate amounted to 113.5 percent.”

The growth rate of investments from all sources of funding amounted to 108.3 percent in the field of capital construction compared to the same period of last year.

The ratio of this index to GDP is 44.2 percent. The growth rate of the foreign trade turnover volume in the same ratio reached 105.1 percent.

Turkmenistan holds one of the key positions on natural gas supplies in the region. The importers are Russia, China, and Iran.

In general, Turkmenistan’s GDP growth dynamics confirms the expectations of the international financial institutions.

International Monetary Fund (IMF) in its projections indicated that the economic growth of Turkmenistan will reach 10 percent this year. In 2013, the country’s GDP growth was 10.2 percent, according to the official statistics.

 

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