Turkmenistan Oil production Turkmenistan Electricity production

Turkmenistan Economy

Economy - overview:turkmenistan is a largely desert country with intensive agriculture in irrigated oases and large gas and oil resources. one-half of its irrigated land is planted in cotton; formerly it was the world's tenth-largest producer. poor harvests in recent years have led to an almost 50% decline in cotton exports. with an authoritarian ex-communist regime in power and a tribally based social structure. turkmenistan has taken a cautious approach to economic reform. hoping to use gas and cotton sales to sustain its inefficient economy. privatization goals remain limited. in 1998-2005. turkmenistan suffered from the continued lack of adequate export routes for natural gas and from obligations on extensive short-term external debt. at the same time. however. total exports rose by 20% to 30% per year in 2003-2005. largely because of higher international oil and gas prices. in 2005 ashgabat sought to raise natural gas export prices to its main customers. russia and ukraine. from $44 per thousand cubic meters (tcm) to $66 per tcm. overall prospects in the near future are discouraging because of widespread internal poverty. the burden of foreign debt. the government's irrational use of oil and gas revenues. and its unwillingness to adopt market-oriented reforms. turkmenistan's economic statistics are state secrets. and gdp and other figures are subject to wide margins of error. in particular. the rate of gdp growth is uncertain.

GDP (purchasing power parity) : $29.38 billion (2005 est.)

Inflation rate: 10% (2005 est.)

Labor force : 2.32 million (2003 est.)

Industries: natural gas. oil. petroleum products. textiles. food processing

Turkmenistan

			Over view
			Geography
			People
			Government
			Economy
			Communications
			Transportation
			Militry

Turkmenistan More Facts

Electricity - production: 11.41 billion kwh (2004 est.)

Oil - production: 203.400 bbl/day (2003 est.)

Turkmenistan More Facts

Exports: $4.7 billion f.o.b. (2005 est.)

Imports : $4.175 billion f.o.b. (2005 est.)
Currency (code) : turkmen manat (tmm)