Turkmenistan GDP Annual Growth Rate

The Gross Domestic Product (GDP) in Turkmenistan expanded 11.10 percent in 2012 from the previous year. GDP Annual Growth Rate in Turkmenistan is reported by the National Institute of State Statistics and Information, Turkmenistan. From 1994 until 2012, Turkmenistan GDP Annual Growth Rate averaged 5.5 Percent reaching an all time high of 16.5 Percent in December of 1999 and a record low of -17.3 Percent in December of 1994. Turkmenistan, once one of the poorest and least developed former members of the Soviet Union, has been one of the fastest growing economies in recent years. The most important sector of the economy is oil and natural gas extraction, which accounts for more than 60 percent of GDP. Although agriculture accounts for only 10 percent of GDP, it employs 50 percent of the labour force. Turkmenistan is the world's largest producer of cotton per capita. While the government has recently enacted much needed reforms in agriculture and banking, reduced subsidies for fuel and is promoting tourism, it remains mostly authoritarian and in control of the economy. Furthermore, bureaucracy and corruption still hamper foreign direct investments. This page provides - Turkmenistan GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-19

Actual Previous Highest Lowest Forecast Dates Unit Frequency
11.10 14.70 16.50 -17.30 12.37 | 2013/12 1994 - 2012 Percent Yearly

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Turkmenistan GDP Annual Growth Rate
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GDP Last Previous Highest Lowest Forecast Unit
GDP Constant Prices 33465715901.00 2012-06-29 28061754386.00 33465715901.00 2188302152.61 33898059633.08 2012-12-31 USD Million [+]
GDP 33.68 2012-12-31 28.06 33.68 2.37 39.25 2013-12-31 USD Billion [+]
GDP Annual Growth Rate 11.10 2012-12-31 14.70 16.50 -17.30 12.37 2013-12-31 Percent [+]
GDP per capita 3269.66 2012-12-31 2981.17 3269.66 1107.68 3587.65 2013-12-31 USD [+]
GDP per capita PPP 9121.28 2012-12-31 8316.49 9121.28 3090.06 10008.43 2013-12-31 USD [+]
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GDP Annual Growth Rate | Notes
The annual growth rate in Gross Domestic Product measures the increase in value of the goods and services produced by an economy over the period of a year. Therefore, unlike the commonly used quarterly GDP growth rate the annual GDP growth rate takes into account a full year of economic activity, thus avoiding the need to make any type of seasonal adjustment.


RELATED NEWS

Turkmenistan Government Spending at 2727205400.00 USD Million  
Government Spending in Turkmenistan increased to 2727205400 USD Million in 2012 from 2499345138 USD Million in 2011. Government Spending in Turkmenistan is reported by the SESRIC.
Turkmenistan GDP Current Prices at 33465715901.00 USD Million  
GDP Constant Prices in Turkmenistan increased to 33465715901 USD Million in 2012 from 28061754386 USD Million in 2011. GDP Constant Prices in Turkmenistan is reported by the SESRIC.
Turkmenistan Consumer Spending at 2212128965.00 USD Million  
Consumer Spending in Turkmenistan increased to 2212128965 USD Million in 2012 from 1038661629 USD Million in 2011. Consumer Spending in Turkmenistan is reported by the SESRIC.
Turkmenistan Exports at 10498.00 USD Million  
Exports in Turkmenistan increased to 10498 USD Million in 2012 from 7620.33 USD Million in 2011. Exports in Turkmenistan is reported by the State Committee of Turkmenistan for Statistics.
Turkmenistan Current Account at 97.00 USD Million  
Turkmenistan recorded a Current Account surplus of 97 USD Million in 2013. Current Account in Turkmenistan is reported by the National Institute of State Statistics and Information, Turkmenistan.
Turkmenistan Imports at 9736.67 USD Million  
Imports in Turkmenistan increased to 9736.67 USD Million in 2012 from 7687.76 USD Million in 2011. Imports in Turkmenistan is reported by the State Committee of Turkmenistan for Statistics.
Turkmenistan Sales Tax Rate at 20.00 Percent  
The Sales Tax Rate in Turkmenistan stands at 20 percent. Sales Tax Rate in Turkmenistan is reported by the Ministry of Finance.
Turkmenistan Balance of Trade at 772.57 USD Million  
Turkmenistan recorded a trade surplus of 772.57 USD Million in 2012. Balance of Trade in Turkmenistan is reported by the State Committee of Turkmenistan for Statistics.
Turkmenistan Unemployment Rate at 2.60 Percent  
Unemployment Rate in Turkmenistan remained unchanged at 2.60 percent in 2004 from 2.60 percent in 2003. Unemployment Rate in Turkmenistan is reported by the National Institute of State Statistics and Information, Turkmenistan.
Turkmenistan Inflation Rate at 6.00 Percent  
The inflation rate in Turkmenistan was recorded at 6.50 percent in 2012. Inflation Rate in Turkmenistan is reported by the National Institute of State Statistics and Information, Turkmenistan.
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