Data at glance of Turkmenistan - average on period

variable 1990-1999 2000-2007 2008-2009 2010-2019 2022 2023 2024 2025 2026
real gdp growth -1.34 14.72 11.6 7.09 4.3 3.4 3.6 2.6 2.0
CPI % 872.55 8.95 0.85 6.69 -1.6 4.6 2.7 3.9 4.7
Unemployment rate - - - - - - - - -
Debt/GDP % 66.9 13.04 5.05 18.95 5.5 4.1 3.8 3.7 3.7
Current account balance/GDP % -7.24 8.66 -17.75 -7.8 5.4 4.7 3.3 3.7 1.6

Data derived from World Economic Outlook Database. To see main macroeconomic indicator in graphs click here

History

Present-day Turkmenistan has been at the crossroads of civilizations for centuries. Various Persian empires ruled the area in antiquity, and Alexander the Great, Muslim armies, the Mongols, Turkic warriors, and eventually the Russians conquered it. In medieval times, Merv (located in present-day Mary province) was one of the great cities of the Islamic world and an important stop on the Silk Road. Annexed by Russia in the late 1800s, Turkmen territories later figured prominently in the anti-Bolshevik resistance in Central Asia. In 1924, Turkmenistan became a Soviet republic; it achieved independence when the USSR dissolved in 1991. President for Life Saparmurat NIYAZOV died in 2006, and Gurbanguly BERDIMUHAMEDOV, a deputy chairman under NIYAZOW, emerged as the country's new president. BERDIMUHAMEDOV won Turkmenistan's first multi-candidate presidential election in 2007, and again in 2012 and 2017 with over 97% of the vote in elections widely regarded as undemocratic. In 2022, BERDIMUHAMEDOV announced that he would step down from the presidency and called for an election to replace him. His son, Serdar BERDIMUHAMEDOV, won the ensuing election with 73% of the vote. Gurbanguly BERDIMUHAMEDOV, although no longer head of state, maintains an influential political position as head of the Halk Maslahaty (People’s Council) and as National Leader of the Turkmen People, a title that provides additional privileges and immunity for him and his family. Since Gurbanguly BERDIMUHAMEDOV stepped down from the presidency, state-controlled media upgraded his honorific from Arkadag (protector) to Hero-Arkadag, and began referring to Serdar BERDIMUHAMEDOV as Arkadagly Serdar, which can be translated as "Serdar who has a protector to support him." Turkmenistan has sought new export markets for its extensive hydrocarbon/natural gas reserves, which have yet to be fully exploited. Turkmenistan's reliance on gas exports has made the economy vulnerable to fluctuations in the global energy market, and economic hardships since the drop in energy prices in 2014 have led many citizens of Turkmenistan to emigrate, mostly to Turkey.

Environment

Area: 488,100 sq km km2

Climate: subtropical desert

Natural resources: petroleum, natural gas, sulfur, salt

Ethnic characteristics

Groups: Turkmen 85%, Uzbek 5%, Russian 4%, other 6% (2003 est.)

Languages: Turkmen (official) 72%, Russian 12%, Uzbek 9%, other 7%

Religions: Muslim 93%, Christian 6.4%, Buddhist <1%, folk religion <1%, Jewish <1%, other <1%, unspecified <1% (2020 est.)

Government

Capital: Ashgabat (Ashkhabad)

Government type: presidential republic; authoritarian

Executive branch

Chief of state: President Serdar BERDIMUHAMEDOV (since 19 March 2022)

Head of government: President Serdar BERDIMUHAMEDOV (since 19 March 2022)

Legislative branch

Description: Assembly (Mejlis) - unicameral

Economic Overview

upper-middle-income Central Asian economy; houses fourth-largest natural gas reserves and rich in natural resources; authoritarian and dominated by state-owned enterprises; challenges include overvalued currency, high inflation risks, lack of economic diversification due to heavy state control and bureaucracy

Industries

natural gas, oil, petroleum products, textiles, food processing

GDP by sector: Agriculture: 11.3% (2023 est.), Industry: 39.3% (2023 est.), Services: 49.4% (2023 est.)

Trade

Export partners: China 63%, Turkey 11%, Greece 7%, Uzbekistan 6%, Azerbaijan 4% (2023)

Export commodities: natural gas, refined petroleum, fertilizers, crude petroleum, electricity (2023)

Import partners: Turkey 21%, UAE 21%, China 20%, Kazakhstan 8%, Germany 5% (2023)

Import commodities: broadcasting equipment, cars, wheat, computers, iron pipes (2023)

Geography

Central Asia, bordering the Caspian Sea, between Iran and Kazakhstan

Defence

Military expenditure: 2019: 1.9% of GDP (2019 est.)

Information derived from worldfactbook.io (Lupon Media), open successor to the CIA World Factbook. Data sourced from World Bank, IMF, UN and other international organizations.