The Gross Domestic Product (GDP) in Turkmenistan expanded 6.20 percent in the second quarter of 2018 over the same quarter of the previous year. GDP Annual Growth Rate in Turkmenistan averaged 6.84 percent from 1994 until 2018, reaching an all time high of 16.50 percent in the fourth quarter of 1999 and a record low of -17.30 percent in the fourth quarter of 1994.

GDP Annual Growth Rate in Turkmenistan is expected to be 6.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Turkmenistan to stand at 5.90 in 12 months time. In the long-term, the Turkmenistan GDP Annual Growth Rate is projected to trend around 6.30 percent in 2020, according to our econometric models.

Turkmenistan GDP Annual Growth Rate
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Turkmenistan GDP Last Previous Highest Lowest Unit
GDP Annual Growth Rate 6.20 6.20 16.50 -17.30 percent [+]
GDP 42.36 36.18 43.52 0.00 USD Billion [+]
GDP Constant Prices 39.56 37.25 39.56 8.17 USD Billion [+]
GDP per capita 7317.60 6986.90 7317.60 1876.40 USD [+]
GDP per capita PPP 16389.00 15648.40 16389.00 4202.50 USD [+]
Gross Fixed Capital Formation 19.69 18.30 19.69 2.81 USD Billion [+]


Turkmenistan GDP Annual Growth Rate

Turkmenistan, once one of the poorest and least developed former members of the Soviet Union, has been one of the fastest growing economies in recent years. The most important sector of the economy is oil and natural gas extraction, which accounts for more than 60 percent of GDP. Although agriculture accounts for only 10 percent of GDP, it employs 50 percent of the labour force. Turkmenistan is the world's largest producer of cotton per capita. While the government has recently enacted much needed reforms in agriculture and banking, reduced subsidies for fuel and is promoting tourism, it remains mostly authoritarian and in control of the economy. Furthermore, bureaucracy and corruption still hamper foreign direct investments. This page provides - Turkmenistan GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Turkmenistan GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
6.20 6.20 16.50 -17.30 1994 - 2018 percent Quarterly
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