The share of the transport and communications sector in Turkmenistan’s GDP amounted to 8.8% in 2022, increasing from 7.4% in 2015, driven by significant investments. This was announced by Deputy Chairman of the Agency for Transport and Communications under the Cabinet of Ministers of Turkmenistan Batyr Annayev, speaking at a meeting of ministers of landlocked developing countries held in Yerevan, Armenia, on 14-15 December 2023.
According to Annayev, from 2015 to 2021, more than 48 billion manats (about $13.7 billion according to official exchange rate) were invested in the transport and communications industry, encouraging rapid growth.
In his presentation, the head of the Turkmen delegation also highlighted the progress made by Turkmenistan in the introduction of digital technologies in the trade sector, and spoke about the processes of digitalization of the national economy.
The share of private business in the economy steadily grows
It was noted that the share of production of small and medium-sized enterprises in the industrial sector increased from 5.6% in 2015 to 12.3% in 2021.
Retail turnover of private businesses grew 2.8 times from 2015 to 2021 and increased by 39.8% compared to 2019.
The private sector accounted for an impressive 94.4% of the total retail turnover in 2021.
Number of Internet users in Turkmenistan exceeds 3 million
The number of Internet users in Turkmenistan has exceeded three million, which is more than 20% higher than in 2019, Annaev said.
Today, there are hundreds of trading platforms in the country that contribute to the development of e-commerce, as well as the banking and transport and logistics sectors. At the same time, the pandemic accelerated the process of digitalization of enterprises and services in Turkmenistan.
To ensure smooth data flow and support the country’s digital expansion, internet transit capacity has seen a tenfold increase through acquisitions of international channels over the past five years.
The number of Internet banking users has doubled
According to the Agency for Transport and Communications, the number of plastic card holders and Internet banking users in the country has more than doubled between 2017 and 2022.
There is also an impressive increase in the number of mobile banking users, their number has increased 65 times, reaching more than 60,000 people. These changes indicate positive results in the promotion of multisectoral digital solutions in Turkmenistan.
Future plans
In his speech, the Deputy Chairman of the Agency for Transport and Communications under the Cabinet of Ministers of Turkmenistan shared plans for the future digital development of the industry. They include:
- Strengthening of innovative and technological, transport and logistics infrastructure
- Integration of banking solutions
- Launch of the second national communications satellite to improve the quality of telecommunications services
- Activation of free economic zones and creation of industrial clusters to promote diversity in the economic structure
- A significant increase in investment in research and development projects.
///nCa, 20 December 2023 (based on the materials of the Agency for Transport and Communications of the Cabinet of Ministers of Turkmenistan)