Asia > Turkmenistan > Economy

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Agriculture > products	cotton, grain; livestock
Aid as % of GDP	0.7%		[98th of 129]
Distribution of family income > Gini index	40.8		[21st of 43]
Economic freedom	0.85		[148th of 156]
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 10th-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. From 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 an average of roughly 15% per year from 2003-07, largely because of higher international oil and gas prices. Overall prospects in the near future are discouraging because of widespread internal poverty, a poor educational system, government misuse of oil and gas revenues, and Ashgabat's reluctance to adopt market-oriented reforms. In the past, Turkmenistan's economic statistics were state secrets. The new government has established a State Agency for Statistics, but GDP numbers and other figures are subject to wide margins of error. In particular, the rate of GDP growth is uncertain. Since his election, President BERDIMUHAMEDOW has sought to improve the health and education systems, ordered unification of the country's dual currency exchange rate, begun decreasing state subsidies for gasoline, signed an agreement to build a gas line to China, and created a special tourism zone on the Caspian Sea. All of these moves hint that the new post-NYYAZOW government will work to create a friendlier foreign investment environment.
Exchange rates Turkmen manats per US dollar - 10,100 (2004), 10,034 (2003), 10,098 (2002), 5,200 (2001)
Exports	$7,567,000,000.00		[88th of 189]
Exports to US	$17,400,000.00		[124th of 224]
GDP	$10,496,480,000.00		[96th of 203]
GDP > PPP	$34,620,000,000.00		[80th of 163]
GDP > Real growth rate	11.5%		[9th of 198]
GDP growth > annual %	18.6 annual %		[2nd of 187]
GINI index	40.76		[23rd of 40]
Gross National Income	$5,142,800,000.00		[101st of 172]
Human Development Index	0.738		[98th of 178]
Income distribution > Poorest 10%	2.6%		[58th of 114]
Income distribution > Richest 10%	31.7%		[50th of 114]
Inflation rate (consumer prices)	11.3%		[22nd of 192]
Population below poverty line	30%		[27th of 46]
Tourist arrivals	257,000		[92nd of 152]

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