Turkmenistan’s economy grew by 6.3% in the first six months of 2026 compared with the same period last year, according to Turkmen state media.
Among Central Asian countries that had published first-half figures, Turkmenistan’s reported growth rate was higher than Kazakhstan’s but lower than those of Kyrgyzstan, Tajikistan, and Uzbekistan.
By the end of the first half of 2026, Kazakhstan’s economy had grown by 4.1%. Kyrgyzstan’s economy expanded by 11.9%, reaching 960 billion som ($11 billion), with construction posting the fastest growth at 69.6%. Tajikistan reported growth of 8.2%, while Uzbekistan reported GDP growth of 8.5%.
Turkmenistan’s official figures should be treated with caution. The International Monetary Fund projects growth of about 2.4% for 2026 and says it uses its own GDP estimates because the official narrative is difficult to reconcile with other available data.
Official data shows growth of 10.4% in transport and communications, 8.5% in trade, 8.4% in services, 6.7% in construction, 2.7% in industry, and 2% in agriculture. Retail trade turnover increased by 10.1%, while foreign trade turnover rose by 7.5%.
The fuel and energy sector continues to play a central role in Turkmenistan’s economy. The country possesses some of the world’s largest natural gas reserves, and hydrocarbon production and exports remain its principal source of foreign currency earnings and a defining feature of the national economy.
Construction is another major pillar, driven largely by state spending. Capital investment totaled 18.6 billion manats ($5.3 billion) in the first half of 2026, up 4.3% year on year and equivalent to 16.5% of GDP. Of this, 45.1% went to production facilities and 54.9% to social and cultural buildings.
The government is also seeking to produce more construction materials and other goods domestically, reducing the need for imports.
For the remainder of the year, the government says it will focus on completing ongoing construction projects, increasing capacity utilization at industrial plants, maintaining the stability of the manat, developing the tax system, preparing next year’s state budget, and improving the use of budget funds.
Earlier, The Times of Central Asia reported that Turkmenistan sees the proposed Trans-Caspian Gas Pipeline and the Southern Gas Corridor as a key route for diversifying its natural gas exports to Europe, as Ashgabat seeks to reduce its dependence on a limited number of export markets.
