Country Report 2017 - Browse a full set of economic indicators


Includes historical data for Turkmenistan’s Gross Domestic Product growth, debt-to-GDP ratio and more, as well as information on trade, banking and financial sector leadership.

Poverty Amid Mineral And Energy Wealth

Situated at the heart of the Eurasian continent, Turkmenistan graduated from lower-middle-income to upper-middle-income country status in 2012. While the shift was due to its vast gas reserves, the world’s fourth-largest, corresponding to approximately 10% of the global total, a significant portion of Turkmenistan’s population still grapples with poverty. The country’s autocratic governance and heavy state involvement in key economic sectors have hindered much-needed structural reforms, impeded broad-based economic growth, and stifled foreign direct investment (FDI) outside the hydrocarbon sector.

Compounding the difficulty, China and Russia remain the primary markets for its energy exports, making Turkmenistan vulnerable to their political influence, and weakening its bargaining position. Other weaknesses include inadequate infrastructure, lack of skilled labor, and a small and unsophisticated banking sector.

Macroeconomy & Sovereign Data

Type of Government Presidential republic; highly authoritarian
Capital Ashgabat (Ashkhabad)
Sovereign Ratings S&P: Not rated
Moody’s: Not rated
Fitch: B+
Total Population 6.4 million
Median Age 26.3
Adult Per Capita Income (PPP) 25,496.97
Total GDP (2023) 90.9 billion

Turkmenistan GDP & Economic Overview

Most Recent Content


Emerging & Frontier Markets

Hot Commodities

Emerging & Frontier Markets

Emerging Markets Focus: CEE

Emerging & Frontier Markets

Emerging Markets Focus: Rising Stars

Banking & Finance

Trade & Investment

Total Exports USD 3.1 billion (2022)
Leading Exports Iron Products
Harvesting Machinery
Packaged Medicines
Broadcasting Equipment
Total Imports USD 14.2 billion (2022)
Leading Imports Natural Gas
Refined Petroleum
Crude Petroleum
Cotton Fibers
Source: World Integrated Trade Solution

Turkmenistan Leading Companies

Halk Bank Financials
Turkmengas Energy, Oil & Gas Exploration & Production
Turkmenbashi Refinery Complex Energy, Oil & Gas Refining
Turkmen Telecom Telecommunication Services
Turkmen Airlines Transportation, Airlines
Turkmenhowakimyaty Materials, Fertilizers

Major Trade Partners — Import

Russia 14.3%
Türkiye 14.2%
Ukraine 12.0%
United Arab Emirates 8.2%
Japan 8.1%

Major Trade Partners — Export

Russia 41.1%
Italy 16.0%
Iran 9.66%
Türkiye 7.4%
Ukraine 6.6%

Data Sources:

IMF World Economic Outlook

UN World Population Prospects

World Inequality Report

S&P Global Ratings


Fitch Ratings

IMF Direction of Trade Statistics (DOTS)

UN Conference on Trade and Development (UNCTAD)

CIA The World Factbook

World Bank’s World Integrated Trade Solution

Forbes Global 2000