Turkmenistan GDP Annual Growth Rate
The Gross Domestic Product (GDP) in Turkmenistan expanded 10.30 percent in 2014 from the previous year. GDP Annual Growth Rate in Turkmenistan averaged 5.91 Percent from 1994 until 2014, reaching an all time high of 16.50 Percent in 1999 and a record low of -17.30 Percent in 1994. GDP Annual Growth Rate in Turkmenistan is reported by the National Institute of State Statistics and Information, Turkmenistan.
||1994 - 2014
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.