TurkmenistanEcon Complexity (2018): -0.68, Rank 100 of 137
Product Exports (2018): $9.11B, Rank 91 of 222
Exports Per Capita (2018): $1.56k, Rank 83 of 219
Product Imports (2018): $2.38B, Rank 152 of 221
Imports Per Capita (2018): $406, Rank 99 of 219
GDP (2018): $40.8B, CURRENT US$Rank 93 of 196
GDP growth (2008 - 2018): 112%, CURRENT US$Rank 25 of 196
GDP PC (2018): $6,967, CURRENT US$Rank 94 of 196
GDP PC GROWTH (2008 - 2018): 78.4%, CURRENT US$Rank 25 of 196
Overview: In 2018 Turkmenistan was the number 93 economy in the world in terms of GDP (current US$), the number 91 in total exports, the number 152 in total imports, and the number 100 most complex economy according to the Economic Complexity Index (ECI). In 2018, Turkmenistan exported $9.11B and imported $2.38B, resulting in a positive trade balance of $6.73B. In 2018, Turkmenistan's exports per capita were $1.56k and its imports per capita were $406.
Trade: The top exports of Turkmenistan are Petroleum Gas ($7.23B), Refined Petroleum ($804M), Peat ($178M), Non-Retail Pure Cotton Yarn ($159M), and Raw Cotton ($109M). The top imports of Turkmenistan are Harvesting Machinery ($98.8M), Special Purpose Ships ($89.3M), Packaged Medicaments ($72.8M), Steam Turbines ($63M), and Iron Pipes ($57.7M).
Destinations: Turkmenistan exports mostly to China ($7.3B), Afghanistan ($323M), Turkey ($256M), Uzbekistan ($228M), and Georgia ($174M), and imports mostly from Turkey ($467M), China ($317M), Russia ($288M), United Arab Emirates ($258M), and Germany ($172M).
Location: Turkmenistan borders Afghanistan, Iran, Kazakhstan, and Uzbekistan by land and Azerbaijan by sea.
Top Export (2018): Petroleum Gas, $7.23B
Top Destination (2018): China, $7.3B
In 2018 Turkmenistan exported a total of $9.11B, making it the number 91 exporter in the world. During the last five reported years the exports of Turkmenistan have changed by -$1.31B from $10.4B in 2013 to $9.11B in 2018.
The most recent exports are led by Petroleum Gas ($7.23B), Refined Petroleum ($804M), Peat ($178M), Non-Retail Pure Cotton Yarn ($159M), and Raw Cotton ($109M). The most common destination for the exports of Turkmenistan are China ($7.3B), Afghanistan ($323M), Turkey ($256M), Uzbekistan ($228M), and Georgia ($174M).
Top Import (2018): Harvesting Machinery, $98.8M
Top Origin (2018): Turkey, $467M
In 2018 Turkmenistan imported $2.38B, making it the number 152 trade destination in the world. During the last five reported years the imports of Turkmenistan changed by -$4.94B from $7.31B in 2013 to $2.38B in 2018.
The most recent imports of Turkmenistan are led by Harvesting Machinery ($98.8M), Special Purpose Ships ($89.3M), Packaged Medicaments ($72.8M), Steam Turbines ($63M), and Iron Pipes ($57.7M). The most common import partners for Turkmenistan are Turkey ($467M), China ($317M), Russia ($288M), United Arab Emirates ($258M), and Germany ($172M).
This section shows forecasts for total product exports and imports for Turkmenistan. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.
The top product import tariffs by their MFN Ad Valorem value for Turkmenistan are Cigarettes containing tobacco (150%) and Cigars, cheroots and cigarillos, containing tobacco (150%).
Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.
*The tariffs applied to imports for Turkmenistan are:
During the last 17 years Turkmenistan's economy has become relatively less complex, moving from the 94th to the 100th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
Turkmenistan has a high level of specialization in Peat (186), Petroleum Gas (48.8), Sulphur (30.5), Non-Retail Pure Cotton Yarn (23.7), and Cotton Waste (23.3). Specialization is measured using RCA, an index that takes the ratio between Turkmenistan observed and expected exports in each product.
The highest complexity exports of Turkmenistan according to the product complexity index (PCI) are Asphalt, bitumen, coal tar pitch, etc articles (0.075), Polymers of propylene, other olefins in primary forms (0.067), Float glass, surface ground, polished glass in sheets (0.011), Gas, liquid or electricity supply or production meters (-0.019), and Peat (including peat litter) (-0.2). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Turkmenistan according to the relatedness index, are Crude Petroleum (0.075), Chromium Ore (0.062), Raw Aluminium (0.054), Calcium Phosphates (0.052), and Insect Resins (0.05). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Turkmenistan is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.
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