Total production of iodine in 2019 was 681.4 tonnes. ===Textiles and Garments=== As a cotton producer, from its conquest by the Russian Empire in the 1880s until independence in 1991 Turkmenistan mainly exported raw cotton to Russia for spinning.
Commercial oil production on the Turkmen side of the Caspian Sea began in the early 1900s, in the environs of the Cheleken Peninsula, and modern oil drilling began in the 1930s near Balkanabat.
Commercial oil production on the Turkmen side of the Caspian Sea began in the early 1900s, in the environs of the Cheleken Peninsula, and modern oil drilling began in the 1930s near Balkanabat.
The construction industry depends mainly on government building projects because construction of private housing is a low priority. ===Natural gas=== See also Turkmenistan / Natural gas and export routes Turkmenistan's major gas deposits were discovered in its central and eastern areas in the 1940s and 1950s, and in the 1980s the republic became the second largest producer of gas in the Soviet Union, behind the Russian SFSR.
During the Soviet era gas was exported mainly to other Soviet republics, as Turkmenistan steadily increased delivery from about 9.2 million m³ in 1940 to about 234 million m³ in 1960 and about 51 billion m³ in 1975.
The Gumdag field was developed in 1949, then Goturdepe (1958), Ekerem (1962), and others.
The construction industry depends mainly on government building projects because construction of private housing is a low priority. ===Natural gas=== See also Turkmenistan / Natural gas and export routes Turkmenistan's major gas deposits were discovered in its central and eastern areas in the 1940s and 1950s, and in the 1980s the republic became the second largest producer of gas in the Soviet Union, behind the Russian SFSR.
During the Soviet era gas was exported mainly to other Soviet republics, as Turkmenistan steadily increased delivery from about 9.2 million m³ in 1940 to about 234 million m³ in 1960 and about 51 billion m³ in 1975.
Offshore drilling began in the 1970s. Major onshore oil fields include Çeleken, Goñurdepe, Nebitdag, Gumdag, Barsagelmez, Guýujyk.
During the Soviet era gas was exported mainly to other Soviet republics, as Turkmenistan steadily increased delivery from about 9.2 million m³ in 1940 to about 234 million m³ in 1960 and about 51 billion m³ in 1975.
The construction industry depends mainly on government building projects because construction of private housing is a low priority. ===Natural gas=== See also Turkmenistan / Natural gas and export routes Turkmenistan's major gas deposits were discovered in its central and eastern areas in the 1940s and 1950s, and in the 1980s the republic became the second largest producer of gas in the Soviet Union, behind the Russian SFSR.
The state subsidized a wide variety of commodities and services from the early 1990s to 2019.
In the 1990s many of Turkmenistan's gas customers in the CIS failed to pay on time or negotiated barter deals.
Neither deal went through due to an unfavourable regional security environment and high costs; inflation and the budget deficit rose but privatisation was resisted. In the late 1990s the government renegotiated its export and price arrangements with Gazprom and renewed deliveries to Georgia, Ukraine, and some other countries.
As in the Soviet era, central planning and state control pervade the system, and the Niyazov government (in power 1991–2006) consistently rejected market reform programs.
Between 1991 and 2004, some 14 new cotton-processing plants were opened, sharply increasing the capability of processing domestically produced cotton.
This export was under centralised control, and most of the export revenue was absorbed into the Soviet central budget. This changed in 1991, when Turkmenistan gained independence and established full control over gas export and export revenues.
Total production of iodine in 2019 was 681.4 tonnes. ===Textiles and Garments=== As a cotton producer, from its conquest by the Russian Empire in the 1880s until independence in 1991 Turkmenistan mainly exported raw cotton to Russia for spinning.
In 2012, around 7,000 tractors, 5,000 cotton cultivators, 2,200 seeders, and other machines, mainly procured from Belarus and the United States, were used. John Deere and Case IH each began selling farm machinery in Turkmenistan in 1994.
Turkmenistan is among the top ten producers of cotton in the world. From 1998 to 2005, Turkmenistan suffered from a lack of adequate export routes for natural gas and from obligations on extensive short-term external debt.
The banking system, which was reduced substantially after the 1998 financial crisis, includes 9 national banks.
At the same time, however, total exports rose by an average of roughly 15% per year from 2003 to 2008, largely because of higher international oil and gas prices.
It is believed that downsizing the government workforce, which began in 2003, increased unemployment in subsequent years.
Between 1991 and 2004, some 14 new cotton-processing plants were opened, sharply increasing the capability of processing domestically produced cotton.
Turkmenistan is among the top ten producers of cotton in the world. From 1998 to 2005, Turkmenistan suffered from a lack of adequate export routes for natural gas and from obligations on extensive short-term external debt.
The $240 million Tejen plant, inaugurated on March 18, 2005, has a design capacity of 350,000 tonnes of urea per year.
In 2005 an estimated 95 percent of loans went to state enterprises.
The Dostluk Dam, opened at Sarahs on the border with Iran in 2005, has increased available irrigation water and improved efficiency.
In 2006 grain crop failures led to steadily increasing bread lines and reinstatement of a rationing system in most regions.
Following his election in 2007, President Gurbanguly Berdimuhamedow unified the country's dual currency exchange rate, ordered the redenomination of the manat, reduced state subsidies for gasoline, and initiated development of a special tourism zone (Awaza) on the Caspian Sea. Since 2009, Turkmenistan has maintained a fixed exchange rate.
At the same time, however, total exports rose by an average of roughly 15% per year from 2003 to 2008, largely because of higher international oil and gas prices.
Ashgabat claimed Tehran owed some $1.8 billion for supplies delivered nearly 10 years before. In January-November 2020, Turkmenistan extracted 62.3 billion m3 of natural gas, of which it exported 31 billion. One observes in the table below that production and exports peaked in 2008 and dramatically decreased in 2009.
Following his election in 2007, President Gurbanguly Berdimuhamedow unified the country's dual currency exchange rate, ordered the redenomination of the manat, reduced state subsidies for gasoline, and initiated development of a special tourism zone (Awaza) on the Caspian Sea. Since 2009, Turkmenistan has maintained a fixed exchange rate.
It also opened its first pipeline not to pass through Russia, the Korpezhe-Kurt Kui Pipeline. On December 14, 2009, the Central Asia–China gas pipeline was opened, and Turkmenistan began delivering large volumes of natural gas to the China National Petroleum Corporation.
Ashgabat claimed Tehran owed some $1.8 billion for supplies delivered nearly 10 years before. In January-November 2020, Turkmenistan extracted 62.3 billion m3 of natural gas, of which it exported 31 billion. One observes in the table below that production and exports peaked in 2008 and dramatically decreased in 2009.
This was due an explosion in the Central Asia–Center gas pipeline system in April 2009 for which Turkmenistan blamed Gazprom.
Power output in 2011 was 18.27 billion kWh, of which 2.5 billion kWh was exported.
In the same year, Turkmen Railways handled 5.44 million passengers and counted 2.53 billion passenger-kilometers. ====Roads==== As of 2011, Turkmenistan featured 13.7 thousand kilometers of roads, of which 12.3 thousand were paved.
Claas combines were first used for grain harvesting in Turkmenistan in 2011.
In 2012, around 7,000 tractors, 5,000 cotton cultivators, 2,200 seeders, and other machines, mainly procured from Belarus and the United States, were used. John Deere and Case IH each began selling farm machinery in Turkmenistan in 1994.
Expanded at a cost of $2 billion between 2013 and 2018 by Gap Inşaat, the seaport has capacity to handle annually 25 million tonnes of dry cargo (17 million in the newly expanded port, 8 million in the old port), 300,000 passengers, 75,000 freight trucks, and 400,000 containers.
The economy of Turkmenistan continues to recover from the 2014 downturn in hydrocarbon prices, but remains "in the grip of its worst economic crisis since the immediate postindependence period, driven in part by low gas prices, the suspension of gas exports to Russia between 2016 and 2019...and poor harvests." President Gurbanguly Berdimuhamedow at a session of the Cabinet of Ministers on March 11, 2021, called the rate of GDP growth unsatisfactory.
The economy is still recovering from a deep recession that followed the late 2014 collapse in global energy prices.
The $650 million Mary ammonia and urea plant, commissioned on October 17, 2014, was built by Rönesans Holding, Kawasaki, and Sojitz with design capacity of 400 thousand tonnes of ammonia and 640 thousand tonnes of urea.
Unemployment in 2014 was estimated at 11%.
On January 1, 2015, the official exchange rate was changed to 1 United States dollar to 3.50 Turkmenistan manat.
By 2015 Turkmenistan was delivering approximately 35 bcma to China, counterbalancing declining exports to Russia, which ended on January 1, 2016.
The Derweze State Electrical Power Station (Derweze Döwlet Elektrik Stansiýasy), a 504.4 megawatt power plant built by Çalık Enerji in 2015, is located near Ovadandepe. A "national grid strengthening project" with support from the Asian Development Bank is underway, which will build four new power substations and add direct high-voltage lines, a 500-kilovolt line between Balkan province and Dashoguz, and a 200-kilovolt line between Buzmeyin and Balkanabat.
dollars, by year, from 2015 through 2019. Turkmenistan's most important export commodity is natural gas, delivered by pipelines to China and in lesser quantities to Russia.
The economy of Turkmenistan continues to recover from the 2014 downturn in hydrocarbon prices, but remains "in the grip of its worst economic crisis since the immediate postindependence period, driven in part by low gas prices, the suspension of gas exports to Russia between 2016 and 2019...and poor harvests." President Gurbanguly Berdimuhamedow at a session of the Cabinet of Ministers on March 11, 2021, called the rate of GDP growth unsatisfactory.
By 2015 Turkmenistan was delivering approximately 35 bcma to China, counterbalancing declining exports to Russia, which ended on January 1, 2016.
The Turkmenbashy oil refinery had a refining capacity of more than 10 million tons of oil per year as of May 2016.
The 2021 budget of the Turkmenistan government totals 79.5 billion manat of revenue, down from 84.39 billion manat in 2020, and 103.57 billion manat in 2017.
Russian purchases resumed, albeit in smaller quantities, in 2019. Small-volume sales of an estimated 12 bcma to Iran halted on January 1, 2017, when Turkmenistan unilaterally cut off supplies over payment arrears.
In 2017, it produced more than 23 TWh of electricity, exporting 15% of that to neighboring countries. New power plants have been constructed in Mary and Ahal province, and another is under construction in Çärjew District of Lebap province.
In the first ten months of 2019, however, the factory produced only 67,900 tonnes of polyethylene and 12,700 tonnes of polypropylene. ====Non-hydrocarbon chemicals==== In March 2017 the Garlyk Mining and Enrichment Combinate for production of potash fertilizer was inaugurated.
Total business deposits were broken out into state-owned firms (32.5 billion manat), privately owned firms (21.1 billion manat), and individual unincorporated entrepreneurs (7.9 billion manat). In 2019, 84.1 billion manat worth of credit was extended to individuals, firms, and organizations, up from 76.3 billion in 2018 and 69.2 billion in 2017.
Turkmenistan also buys cotton harvesters from Uzbekistan. Between 2017 and 2020 Claas delivered 1,000 Tucano 420 grain combines, 800 Axion 850 plowing tractors, and 1,550 Axos 340 tractors.
In the 2017 and 2018 crop years John Deere delivered 440 Model 9970 cotton harvesters, and between 2019 and 2020 another 600. ==Trade== The following table presents the value of Turkmenistan's exports and imports in million U.S.
The Asian Development Bank reported in October 2018,Turkmenenergo, the State Energy Corporation is the vertically integrated power utility in the country.
The Mary-3 combined cycle power plant, built by Çalık Holding with GE turbines, commissioned in 2018, produces 1.574 gigawatts of electrical power and is specifically intended to support expanded exports of electricity to Afghanistan and Pakistan.
A $375 million float glass and glass container plant built by Tepe Inşaat of Turkey was opened February 14, 2018, in Ovadandepe north of Ashgabat.
The $1.3 billion Garabogaz plant, built by Mitsubishi Heavy Industries and GAP İnşaat (a subsidiary of Çalık Holding), was inaugurated on September 18, 2018, with a design capacity of 1.16 million tonnes of urea per year.
Production of nitrogenous fertilizers in Turkmenistan totaled 550,500 tonnes (active ingredient basis) in 2019. The Kiyanly Polymer Factory (Gyýanly Polimer Zawody), inaugurated October 17, 2018, features design capacity to produce 381 thousand tonnes of polyethylene and 81 thousand tonnes of polypropylene per year.
Expanded at a cost of $2 billion between 2013 and 2018 by Gap Inşaat, the seaport has capacity to handle annually 25 million tonnes of dry cargo (17 million in the newly expanded port, 8 million in the old port), 300,000 passengers, 75,000 freight trucks, and 400,000 containers.
Total business deposits were broken out into state-owned firms (32.5 billion manat), privately owned firms (21.1 billion manat), and individual unincorporated entrepreneurs (7.9 billion manat). In 2019, 84.1 billion manat worth of credit was extended to individuals, firms, and organizations, up from 76.3 billion in 2018 and 69.2 billion in 2017.
Prior to imposition of a ban on export of raw cotton in October 2018, Turkmenistan exported raw cotton to Russia, Iran, South Korea, United Kingdom, China, Indonesia, Turkey, Ukraine, Singapore and the Baltic states.
Since 2018, independent media have reported food shortages in the country, with hundreds of people queuing for hours to buy bread and flour. ===Mechanization of agriculture=== Since independence, the Turkmenistan government has spent considerable sums on imported agricultural tractors, harvesters, and implements.
In the 2017 and 2018 crop years John Deere delivered 440 Model 9970 cotton harvesters, and between 2019 and 2020 another 600. ==Trade== The following table presents the value of Turkmenistan's exports and imports in million U.S.
The economy of Turkmenistan continues to recover from the 2014 downturn in hydrocarbon prices, but remains "in the grip of its worst economic crisis since the immediate postindependence period, driven in part by low gas prices, the suspension of gas exports to Russia between 2016 and 2019...and poor harvests." President Gurbanguly Berdimuhamedow at a session of the Cabinet of Ministers on March 11, 2021, called the rate of GDP growth unsatisfactory.
The state subsidized a wide variety of commodities and services from the early 1990s to 2019.
In the January-April period of 2020, the volume of cashless transactions using debit cards slightly more than tripled compared to the same period in 2019, to just under 1.9 billion manat.
Russian purchases resumed, albeit in smaller quantities, in 2019. Small-volume sales of an estimated 12 bcma to Iran halted on January 1, 2017, when Turkmenistan unilaterally cut off supplies over payment arrears.
Natural gas exports include pipeline gas to China, Russia, and previously to Iran, and liquid petroleum gas shipped by rail and truck to Afghanistan. ====Natural gas to gasoline production==== On June 28, 2019, a $1.7 billion factory for producing gasoline out of natural gas was commissioned in Ovadandepe.
In 2019, capital investment in the oil industry totaled 3.29 billion manat.
In 2019, the value of Turkmenistan's glass exports as reported by trading partners was $9.5 million. A steel smelter, Türkmen Demir Önümleri Döwlet Kärhanasy (Turkmen Iron Products State Enterprise) operating on scrap metal is located at kilometer 22 on the Ashgabat-Dashoguz Automobile Highway near Ovadandepe.
It produces mainly rebar and channel iron. ===Chemicals=== As of 2019, Turkmenistan had "nine chemical plants that produce nitrogen and phosphorus fertilizers (700,000 tons per year), sulfuric and nitric acids, iodine, bromine, and mineral salts." In 2019, the country was the world's 3rd largest producer of iodine. ====Petrochemicals==== Three plants in Turkmenistan produce urea (carbamide), primarily intended for export, one each in Tejen, Mary,and Garabogaz.
Between January and October 2019, the Garabogaz plant produced approximately 392,000 tonnes of urea, of which 261,000 tonnes was exported.
Production of nitrogenous fertilizers in Turkmenistan totaled 550,500 tonnes (active ingredient basis) in 2019. The Kiyanly Polymer Factory (Gyýanly Polimer Zawody), inaugurated October 17, 2018, features design capacity to produce 381 thousand tonnes of polyethylene and 81 thousand tonnes of polypropylene per year.
In the first ten months of 2019, however, the factory produced only 67,900 tonnes of polyethylene and 12,700 tonnes of polypropylene. ====Non-hydrocarbon chemicals==== In March 2017 the Garlyk Mining and Enrichment Combinate for production of potash fertilizer was inaugurated.
Total production of iodine in 2019 was 681.4 tonnes. ===Textiles and Garments=== As a cotton producer, from its conquest by the Russian Empire in the 1880s until independence in 1991 Turkmenistan mainly exported raw cotton to Russia for spinning.
In 2019, Turkmenistan exported cotton textiles worth $123.6 million.
In 2019, Turkmenistan produced 118,600 tonnes of cotton yarn, and 209.4 million square meters of fabric, of which 192.9 million was cotton, 14.9 million was terrycloth, and 1.4 million was silk.
In addition, Turkmenistan produced in 2019 40.9 million pairs of stockings, 5.5 million knit items, 1.5 million pairs of shoes, and 3,400 tonnes of knitted fabric. ===Construction=== The Turkmenistan government centrally funds and controls major construction projects.
In 2019, Turkmenistan Airlines hauled 12 thousand tonnes of cargo.
In 2019, 23.8 million tonnes of freight was transported by rail in Turkmenistan.
In 2019, road transport accounted for 27.1 billion passenger-kilometers, or 83% of passenger traffic in Turkmenistan.
Motor vehicles transported 448.9 million tonnes of cargo in 2019, 85.5% of the total, and accounted for 14.2 billion tonne-kilometers.
Total business deposits were broken out into state-owned firms (32.5 billion manat), privately owned firms (21.1 billion manat), and individual unincorporated entrepreneurs (7.9 billion manat). In 2019, 84.1 billion manat worth of credit was extended to individuals, firms, and organizations, up from 76.3 billion in 2018 and 69.2 billion in 2017.
The top crop in terms of area planted is wheat (761 thousand hectares in 2019), followed by cotton (551 thousand hectares in 2019).
Beginning in 2019, the Turkmenistan government shifted focus to export of cotton yarn and finished textiles and garments. Private farmers grow most of Turkmenistan’s fruits and vegetables (chiefly tomatoes, watermelons, grapes, and onions), but all production phases of the main cash crops—grain and cotton—remain under state control.
In the 2017 and 2018 crop years John Deere delivered 440 Model 9970 cotton harvesters, and between 2019 and 2020 another 600. ==Trade== The following table presents the value of Turkmenistan's exports and imports in million U.S.
dollars, by year, from 2015 through 2019. Turkmenistan's most important export commodity is natural gas, delivered by pipelines to China and in lesser quantities to Russia.
According to Chinese Customs data, the value of Chinese imports of natural gas from Turkmenistan fell from $8,686,022,768 in 2019 to $6,071,165,273 in 2020 due to a combination of reduced Chinese import volumes and falling hydrocarbon prices.
Crude oil and refined petroleum products accounted for another $3 billion of exports in 2019, followed by $123.6 million for cotton textiles.
Among imports, major categories in 2019 were machinery ($1.5 billion), base metals ($968.3 million), chemicals ($682.3 million), vehicles ($453.5 million), and plastic and rubber and products thereof ($342.9 million). ==Labor== In 2019, Turkmenistan counted 666,500 employees of large- and medium enterprises, and 103,900 employees of non-state (private, mixed public-private, or foreign) enterprises.
When discussing the 2021 government budget, he noted that 2021 would be "as difficult" a year as 2020 had been.
According to the 2020 Investment Climate Statement of the U.S.
In terms of natural gas reserves, as of 2020 it is ranked 4th in the world.
The 2021 budget of the Turkmenistan government totals 79.5 billion manat of revenue, down from 84.39 billion manat in 2020, and 103.57 billion manat in 2017.
In the January-April period of 2020, the volume of cashless transactions using debit cards slightly more than tripled compared to the same period in 2019, to just under 1.9 billion manat.
Ashgabat claimed Tehran owed some $1.8 billion for supplies delivered nearly 10 years before. In January-November 2020, Turkmenistan extracted 62.3 billion m3 of natural gas, of which it exported 31 billion. One observes in the table below that production and exports peaked in 2008 and dramatically decreased in 2009.
In January-November 2020, Turkmenistan extracted 8.7 million tonnes of oil and condensate.
The Turkmenbashy oil refinery is Turkmenistan's largest producer of liquid petroleum gas, accounting for two-thirds of total production with annual output of about 300 thousand tonnes. The Seydi refinery processed about 135,500 tonnes of oil in the first quarter of 2020, and 441,200 tonnes January-November, implying capacity of about half a million tonnes of oil in 2020.
Plans call for a similar dam on the Atrek River. During the 2020 season, Turkmenistan reportedly produced roughly 1.5 million tons of raw cotton.
Turkmenistan also buys cotton harvesters from Uzbekistan. Between 2017 and 2020 Claas delivered 1,000 Tucano 420 grain combines, 800 Axion 850 plowing tractors, and 1,550 Axos 340 tractors.
In the 2017 and 2018 crop years John Deere delivered 440 Model 9970 cotton harvesters, and between 2019 and 2020 another 600. ==Trade== The following table presents the value of Turkmenistan's exports and imports in million U.S.
According to Chinese Customs data, the value of Chinese imports of natural gas from Turkmenistan fell from $8,686,022,768 in 2019 to $6,071,165,273 in 2020 due to a combination of reduced Chinese import volumes and falling hydrocarbon prices.
The economy of Turkmenistan continues to recover from the 2014 downturn in hydrocarbon prices, but remains "in the grip of its worst economic crisis since the immediate postindependence period, driven in part by low gas prices, the suspension of gas exports to Russia between 2016 and 2019...and poor harvests." President Gurbanguly Berdimuhamedow at a session of the Cabinet of Ministers on March 11, 2021, called the rate of GDP growth unsatisfactory.
When discussing the 2021 government budget, he noted that 2021 would be "as difficult" a year as 2020 had been.
However, the black-market exchange rate as of February 2021 was fluctuating around 29 to 30 manat to the dollar.
The 2021 budget of the Turkmenistan government totals 79.5 billion manat of revenue, down from 84.39 billion manat in 2020, and 103.57 billion manat in 2017.
The 2021 expenditure budget was set at 72.1 billion manat. The Central Bank of Turkmenistan controls the supply of Turkmenistan manat, but does not publish data on the money supply. The Central Bank promotes cashless transactions.
As of January 2021, the government acknowledged over 2,500 large-scale projects under construction at a cost of $37 billion.
Two German banks, Deutsche Bank and Commerzbank, offer institutional services through offices in Ashgabat. As of January 1, 2021, total assets of all banks in Turkmenstan amounted to 135.8 billion manat.
Government has overstated growth in the past." The UK government's Overseas Business Risk report for 2021 notes, "No reliable economic data are published in Turkmenistan.
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