Turkmenistan GDP Annual Growth Rate  1994-2017 | Data | Chart | Calendar

Turkmenistan's economy advanced 6.2 percent year-on-year in 2016, compared to 6.5 percent growth a year earlier, due to a decline in energy prices and Russia's decision to stop purchases of Turkmen gas. The growth was observed in industrial production (1.1 percent); services (10.4 percent); construction (4.3 percent); agriculture (9.9 percent); retail sales (14.1 percent) and transportation (10.7 percent). GDP Annual Growth Rate in Turkmenistan averaged 6.94 percent from 1994 until 2016, reaching an all time high of 16.50 percent in the fourth quarter of 1999 and a record low of -17.30 percent in the fourth quarter of 1994.

Turkmenistan GDP Annual Growth Rate
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Turkmenistan GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate 6.20 6.20 16.50 -17.30 percent [+]
GDP 35.85 43.50 43.50 2.37 USD Billion [+]
GDP Constant Prices 38.31 35.98 38.31 8.36 USD Billion [+]
GDP per capita 6932.84 6591.05 6932.84 1884.64 USD [+]
GDP per capita PPP 15527.40 14761.90 15527.40 4221.01 USD [+]



Turkmenistan GDP Annual Growth Rate Notes

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. Turkmenistan GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on February of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
6.20 6.20 16.50 -17.30 1994 - 2016 percent Quarterly
CMLV



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