ASHGABAT (TCA) — In 2016, trade accounted for more than 10 percent of Turkmenistan’s gross domestic product (about 8 percent in 2015), the State News Agency of Turkmenistan reports.
According to the State Statistical Committee of Turkmenistan, last year’s retail trade growth in the public trade sector amounted to 10.6 percent and 17.5 percent in the private sector.
According to the Ministry of Foreign Trade and Economic Relations, in 2016, in comparison with 2015, the total trade turnover increased by 10 percent.
As to the external trade, a significant increase in Turkmenistan’s exports was recorded in the export of electricity – 16.7 percent, mineral fertilizers – 2.1-fold, cement – eight-fold, and wool – 36.6 percent.
In 2016, compared to 2015, the export of carpets and rugs grew 19-fold. Agricultural exports also increased, with the export of wheat growing 2.3-fold, fruits by 68.3 percent, and vegetables by 21.6 percent.
Turkmenistan’s imports in 2016, compared to 2015, decreased by 6.2 percent. The development of domestic production of import-substituting goods allowed reducing the import of certain products. In particular, last year the import of consumer goods decreased by 9.2 percent, the import of food products decreased by 20.4 percent, and the import of furniture decreased by 20 percent.
Last year, Turkmenistan’s main trading partners were Turkey, China, Iran, the United Arab Emirates, and Russia.
Natural gas remains Turkmenistan’s main export item and the main source of hard-currency revenues.
