Turkmenistan Import Data

Turkmenistan's Import/Export Overview and Domestic Market Update

Imports & Exports

• Top Trade Partners: Turkmenistan's principal trading allies include Turkey, Russia, and China, reflecting the nation's strategic location and economic ties within the region.

• Top 5 Imports: Machinery, vehicles, foodstuffs, textiles, and chemicals lead the charge, accounting for a significant portion of the nation's total imports.

• Top 5 Exports: Natural gas, cotton, textiles, and precious metals are among the top exports, with natural gas exports alone commanding a prominent share of the total.

• Trade Balance: Turkmenistan enjoys a trade surplus, primarily due to its substantial natural gas exports, which far outweigh the value of its imports.

• Trade Policy Snapshot: The government's policies are geared towards developing the energy sector and diversifying exports, with incentives for foreign investment and trade facilitation measures.

Domestic Market

• Consumer Expenditure: Household spending is stable but faces challenges from inflationary pressures, particularly in food and utilities.

• Interest Rates & Inflation: The central bank maintains a tight monetary policy to control inflation, which has remained relatively high, impacting purchasing power and savings.

• Supply Chain Dynamics: Local industries often contend with supply chain inefficiencies, exacerbated by global supply disruptions, affecting the cost and availability of imported goods.

• Sectoral Performance: The energy sector, particularly natural gas production, is the backbone of the economy, followed by agriculture and textiles, which show resilience despite market fluctuations.

Overall Outlook

Turkmenistan's economic outlook is cautiously optimistic, buoyed by its rich natural resources and efforts to enhance trade relations. Challenges include managing inflation and improving domestic market conditions to support sustainable growth.