Turkmenistan GDP (Gross Domestic Product)

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Turkmenistan country general overview

Before we start to discuss Turkmenistan GDP, First we will discuss Turkmenistan country general overview. Turkmenistan is a landlocked country. It is located in Central Asia.

Turkmenistan gdp
Turkmenistan GDP

Its border countries are Kazakhstan, Uzbekistan, Afghanistan and Iran. Its capital and largest city name is Ashgabat. Turkmenistan’s official language is Turkmen.

Its other regional languages are Uzbek, Russian, Kazakh, Armenian, Tatar, Azerbaijani, Ukrainian and others. When we talk about its ethnic group divide, so Turkmen are 82%, Uzbeks 9% and others.

In religions, 96% Islam, 3.5% Christianity and 0.5% others. When we talk about its government system, so its government system is the Unitary Secular presidential constitutional republic.

Its president name is Gurbanguly. Its legislature name is National Council. Its National Council has two houses, upper house and lower house. The upper house is called the People’s house and the lower house is called Assembly. Turkmenistan’s total land area is 491,220 km2.

Its land area rank is 52nd in the world. Its total population is 6,031,200 in the year 2020. Its population rank is 113rd in the world. Its population density is 10 / km2. Its population density rank is 221st in the world which is considered very low population density in the world. 

Turkmenistan Economy overview

Turkmenistan’s currency is called Turkmenistan manat (TMT). The inflation rate in Turkmenistan is 8% in the year 2020. 0.3% of the population live below the poverty line in the year 2018.

Turkmenistan’s Human Development Index rate is 0.710 in the year 2018 which is considered very high in the world. Its HDI rank is 108th in the world. The unemployment rate in Turkmenistan is 15%. Its gross external debt is $5 billion in the year 2021. Its total Foreign reserves are $40 billion in the year 2018. 

Turkmenistan GDP

Its total GDP is $48 billion (nominal) and $99 billion (PPP) in the year 2020. Its GDP rank is 84th in the year 2016. Its GDP growth rate is 4% in the year 2021.

Its GDP per capita is $8,000 (nominal) and $16,700 (PPP) in the year 2020. When we talk about its GDP by sector, so agriculture is 13%, industry, 50% and services are 37% in the year 2018. 

Exports

Its total exports are $11 billion in the year 2019. Its main export goods are gas, Petroleum, textile, fibre and others. Its main export partners are China, Turkey, Azerbaijan, Russia, Italy and others. 

Imports

Turkmenistan’s total imports are $5.9 billion in the year 2019. Its main import goods are machinery, chemicals, food products and others. Its main import partners are Turkey, Russia, China, Germany, Italy and others.

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