On 9 February 2024, President of Turkmenistan Serdar Berdimuhamedov chaired an expanded meeting to analyze the key economic achievements of 2023. Deputy Prime Ministers, ministers, and provincial governors presented their reports.
Government data revealed a robust 6.3% GDP growth in 2023. In the industrial complex, this indicator increased by 4.3%, in construction – by 2%, in the transport and communication sector – by 8.4%, in trade – by 12.8%, in agriculture – by 4.4%, in the service sector – by 5.1%.
In 2023, overall production output grew by 7.8% compared to 2022. The volume of exports of products produced in the country reached US $ 11.4 billion.
The volume of retail trade increased by 10.9% last year compared to 2022.
Wages for large and medium-sized enterprises in the country are 9.9% higher compared to 2022.
As of 1 January 2024, the revenue part of the state budget was implemented at 109.4%, and the expenditure part – 99.8%.
During the specified period, the revenue part of local budgets was fulfilled at the level of 104.1%, and the expenditure part – by 99.9%.
The volume of investments aimed at the development of the national economy in 2023 increased by 7.5% compared to 2022 and reached 18.3% in relation to GDP. Of the total amount of capital investments disbursed, 49.1% were allocated for industrial facilities, and 50.9% for social buildings.
By the end of 2023, Turkmenistan’s industrial sector saw positive results.
Natural gas production reached 80,6 billion cubic meters. Oil production also demonstrated strong performance, reaching 8.316 million tons.
Other notable developments in Turkmenistan’s industry include surging growth in petroleum bitumen (+30.1%), flat glass (+15.6%), raw silk (+17.1%), sewing and knitwear (+8.9%), sausage (+7.7%), canned fruits & vegetables (+5.5%), butter (+6.8%), liquefied gas (+1.1%), kerosene (+0.6%), cement (+0.8%), and dairy products (+1.7%) compared to 2022.
Cargo transportation rose by 3.8% and passenger transportation witnessed a significant 16.1% increase.
Furthermore, the agro-industrial complex saw positive developments: growth in vegetable production (+9.4%), melons (+4%), and berries & fruits (+1.1%) , potatoes (+5.5%) and meat production (+0.8%).
In 2023, a total of 12,274 new job places were created.
Last year, 78 industrial and socio-cultural facilities and 1.89 million square meters of housing were commissioned at the expense of all sources of financing. ///nCa, 12 February 2024