Turkmenistan: Economy | Asian Development Bank

Turkmenistan: Economy

Despite low global energy prices and stagnation in Turkmenistan’s trading partners, the government reported growth as broadly stable in the first half of 2017 at 6.5%, up from 6.1% in the same period last year. On the supply side, expansion came mainly from outside the hydrocarbon sector, with services rising by 9.0% on gains of 10.9% in transport, 9.4% in trade, 4.1% in construction services, and 10.3% in other services. Agriculture expanded by 3.8%, and industry by 3.2%. On the demand side, public and foreign direct investment supported growth. Gross investment is expected to remain sizable, equal to 42% of GDP, but less than last year, estimated at 47%. This Update maintains the ADO 2017 growth projection for 2017 but reduces the projection for 2018 by half a percentage point. Read more from Asian Development Outlook 2017 Update

Note: GDP growth rate forecasts for 2017 and 2018.


Economic forecasts for South Asian countries

Country 2017f 2018f
Armenia 2.2 2.5
Azerbaijan –2.2 0.1
Georgia 3.8 4.5
Kazakhstan 0.9 0.7
Kyrgyz Republic 1.5 1.0
Tajikistan 1.5 3.3
Turkmenistan 5.1 5.6
Uzbekistan 5.1 5.4
Average 1.7 2.1
Country 2017f 2018f
Armenia 1.2 1.8
Azerbaijan 14.0 10.0
Georgia 5.7 4.0
Kazakhstan 8.0 7.0
Kyrgyz Republic 3.5 5.0
Tajikistan 8.0 7.5
Turkmenistan 5.7 5.5
Uzbekistan 11.5 12.0
Average 8.9 7.8
Country 2017f 2018f
Armenia –2.5 –2.3
Azerbaijan 5.6 11.0
Georgia –12.0 –11.5
Kazakhstan –4.5 –3.5
Kyrgyz Republic –13.0 –13.5
Tajikistan –5.5 –6.0
Turkmenistan –12.8 –12.4
Uzbekistan 0.1 0.5
Average –3.4 –2.0
Country 2015
Armenia 3,880
Azerbaijan 6,560
Georgia 4,160
Kazakhstan 11,390
Kyrgyz Republic 1,170
Tajikistan 1,280
Turkmenistan 7,380
Uzbekistan 2,160

f = forecast number.

Sources:
Asian Development Outlook 2017
Asian Development Outlook 2017 Update