The Economy

Turkmenistan Table of Contents

Turkmenistan's economy is predominantly agricultural. Agriculture accounts for almost half of the gross domestic product (GDP) and more than two-fifths of total employment, whereas industry accounts for about one-fifth of GDP and slightly more than one-tenth of total employment. In 1988 the per capita net material product (NMP) output was 61 percent of the Soviet average, fourth lowest of the Soviet republics. In 1991, 17.2 percent of the work force was engaged in private-sector occupations such as farming, individual endeavors, and employment on agreement; 0.7 percent worked in rented enterprises, and the rest worked for state enterprises, social organizations, and collective farms.

Macroeconomic indicators of the performance of Turkmenistan's national economy have differed widely in the late Soviet and early independence years, making precise assessment difficult. According to one source, the per capita GDP was US$2,509 in 1992, placing it higher than Tajikistan and Uzbekistan, but lower than Kazakstan and much lower than some of the other former Soviet republics. Another source lists a 17 percent increase in industrial output between 1991 and 1992. On the other hand, several sources agree that the NMP aggregate figure for 1992 was a 15 percent decline from the previous year. One source claims that GDP in Turkmenistan increased by 8.5 percent in 1993, while another regards as suspect the statistical methods applied to the data on which this figure is based.

Natural Resources
Economic Structure
Foreign Trade

For more recent information about the economy, see Facts about Turkmenistan.

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Source: U.S. Library of Congress