Macroeconomic of Turkmenistan: GDP Increases by 6.3% on the Back of Growing Trade and Investment
Ashgabat, October 3 | ORIENT. Turkmenistan's key macroeconomic indicators for the first nine months of this year have been released, demonstrating consistently strong growth dynamics. Deputy Chairman of the Cabinet of Ministers Hojamyrat Geldimyradov reported to President Serdar Berdimuhamedov at a Cabinet meeting on Friday, October 3, on the results, confirming the effectiveness of measures aimed at ensuring the sustainable development of all economic segments and regions of the country.
For the January-September period, Turkmenistan's gross domestic product (GDP) growth rate was 6.3%. The main drivers of this growth were:
— The transport and communications sector, with an impressive growth of 10.8%. This confirms the country's strategic focus on developing its transit and logistics potential.
— Trade + 9.6%.
— Services + 8.4%.
— Construction + 7%.
Total output increased by 10% over the first three quarters compared to the same period of the last year, demonstrating positive production indicators across all sectors.
During the reporting period, wages at large and medium-sized enterprises increased by 11.8%. Moreover, wages, pensions, government benefits, and student scholarships were financed on time and in full.
Trade activity indicators also confirm positive dynamics. Retail turnover increased by 13.2%, while foreign trade increased by 8.5%.
Furthermore, capital investment from all sources of funding increased by 8.7%, laying a solid foundation for the country's further socioeconomic development.
