On 7 February 2025, President of Turkmenistan Serdar Berdimuhamedov chaired an expanded meeting to analyze the key economic achievements of 2024. Deputy Prime Ministers, ministers, and provincial governors presented their reports.
Government data revealed a steady 6.3% GDP growth in 2024. In the industrial complex, this indicator increased by 1.5%, in construction – by 11%, in the transport and communication sector – by 7.2%, in trade – by 10.1%, in agriculture – by 5.3%, in the service sector – by 8.6%.
In 2024, overall production output grew by 12.1% compared to 2023. The volume of retail trade increased by 13.1% last year compared to 2023.
Wages for large and medium-sized enterprises in the country are 10.6% higher compared to 2023.
In 2024, the plan for the development of capital investments at the expense of all sources of financing was fully implemented. The volume of investments grew by 9.1% compared to 2023.
As of 1 January 2024, the revenue part of the state budget was implemented at 105.9%, and the expenditure part – 99.9%.
During the specified period, the revenue part of local budgets was fulfilled at the level of 103.8%, and the expenditure part – by 99.8%.
In 2024, a total of 5,735 new job places were created.
The volume of exports of products produced in the country reached US $12 billion.
Last year, 86 industrial and social facilities were opened at the expense of all sources of financing, 1.45 million square meters of housing were commissioned.
The State Statistics Committee reports the following data:
Natural gas production amounted to 77.62 billion cubic meters, oil – near 8.28 million tons.
The production of bitumen oil increased by 10.2%, gasoline – by 4.8%, fuel oil – by 8.2%, diesel fuel – by 0.6%, plastic and fiberglass pipes – by 2.2%, cement – by 3.5%, fish caught – by 20.1%, confectionery – by 2.1%, dairy products – by 4.7%, butter – by 3%, mineral water and soft drinks – by 11.5%, canned fruits and vegetables – by 7.2%.
During the reporting period, the volume of cotton yarn production increased by 46.7%, cotton fabric – by 27.1%.
The volume of cargo transportation increased by 2% and passenger transportation by 5.2%. The volume of communication services increased by 16.2%.
In agriculture, compared with 2023, the production of vegetable products increased by 8.4%, melons – by 6%, potatoes – by 4.6%, berries and fruits – by 1.5%, milk – by 2.1%, meat in net weight – by 7%.
In 2024, Turkmenistan’s banking sector saw an increase in lending activity across various sectors, according to the Central Bank. Compared to 2023, the total volume of loans issued by banks to the private sector, individuals, and small and medium-sized enterprises (SMEs) all increased. A particularly growth was observed in loans to agricultural producers, which grew by 30.7%.
In mortgage sector, as of 1 January 2025, the volume of mortgage loans issued under the Presidential Decree for citizens purchasing real estate in Ashgabat, Arkadag, and other regions saw increase of 16.2%. ///nCa, 10 February 2025