How Trade, Textiles, and the Private Sector Are Shaping Turkmenistan’s New Financial Profile
Turkmenistan’s trade complex and entrepreneurial sector have concluded the first ten months of the year with strong operational results. During a government meeting on Thursday, Deputy Prime Minister Nokerguly Atagulyev presented the performance outcomes for the agencies and business sectors under his purview.
The results from the State Commodity and Raw Materials Exchange (SCRMET) served as a key indicator of business activity in the country. Between January and October, the exchange held 249 trading sessions and registered 25,987 contracts. The momentum in exchange operations boosted the agency’s total revenue by 46.4%.
This positive trend is supported by both the retail and foreign markets: according to the Ministry of Trade and Foreign Economic Relations, trade turnover has increased by 14%.
The textile industry is showing robust growth (+9.6%). Enterprises in this sector have ramped up the production of cotton yarn, fabrics, garments, and leather goods, while revenues for the "Turkmenhaly" (Turkmen Carpets) State Association have risen by 6%.
The private sector also serves as a stable driver of growth. According to the Union of Industrialists and Entrepreneurs of Turkmenistan, the production of agricultural and food products has grown by 9.7%, and the output of industrial goods by 8.1%. Furthermore, domestic trade turnover among small and medium-sized businesses has increased by 10.2%, and the service sector within the entrepreneurial sphere has expanded by 9.3%.
