What promoted the growth of the Turkmen economy during the pandemic?

What promoted the growth of the Turkmen economy during the pandemic?

Large factories and production complexes built in Turkmenistan over the past few years promoted the continued high growth rate of the national economy in 2020. This is evidenced by the data published by the State Statistics Committee.

2018 was a landmark year for the Turkmen industry. Within this period three large enterprises were put into operation at once. Today, they are brought into full production capacity, helping Turkmenistan maintain the positive economic growth rate, despite the global coronavirus situation

The gas chemical complex in Kiyanly, Balkan region contributed to an increase in polyethylene production by 110.1%, and polypropylene by 98%, over 11 months of this year as compared to January-November 2019.

This facility is capable of processing 5 billion cubic meters of natural gas annually. Of these, 381 thousand tons of polyethylene, 81 thousand tons of polypropylene and other products are manufactured.

The Garabogazkarbamid plant opened in 2018 helped increase the production of nitrogen fertilizers in Turkmenistan by 46.2% in 2020 as compared to 11 months of 2019.

The carbamide plant in Garabogaz, which has created new jobs for more than a thousand people, is capable of producing 1 million 115 thousand tons of nitrogen fertilizers per year. A significant share of these is exported, for which the infrastructure of the renewed International Seaport of Turkmenbashy, launched in the same 2018, is used.

For 11 months of 2020, the Ministry of Energy increased electricity production in Turkmenistan by 20% as compared to the same period in 2019. This is largely due to the opening of the country’s first combined cycle power plant in the Mary Region in 2018.

The total capacity of this power plant is 1574 megawatts. It has 4 gas turbines with a capacity of 263.25 MW each, as well as two steam turbines with a capacity of 260.5 MW each. Their combined use results in an increase in the productivity of the power plant and the generation of additional electricity.

In 2019, another important infrastructure facility was opened in Turkmenistan – the world’s first plant for the production of gasoline from natural gas in the Akhal Region. By using it, the State Concern Turmengaz increased the production of gasoline by 3.6 times in 2020. In addition, during this period, the production of liquefied hydrocarbon gases, which are also produced at this plant, increased in the country by 19.9% ​​.

The newest infrastructure facilities have laid a solid foundation for further economic development of Turkmenistan. The effect of their commissioning will continue for many years to come, ensuring stable economic growth, despite external circumstances.