Turkmenistan
undefined Economic Complexity : -0.67, Rank 88 of 127
2020 Product Exports | Imports: $6.94B | $3.22B, 101 of 226 | 150 of 226
2020 Per Capita Product Exports | Imports: $4.33k | $2.01k, 9658 of 13378 | 12093 of 13378
Overview In 2020 Turkmenistan was the number 0 economy in the world in terms of GDP (current US$), the number 101 in total exports, the number 150 in total imports, the number 0 economy in terms of GDP per capita (current US$) and the number 88 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Turkmenistan are Petroleum Gas ($5.31B), Crude Petroleum ($354M), Refined Petroleum ($220M), Special Purpose Ships ($195M), and Nitrogenous Fertilizers ($170M), exporting mostly to China ($5.32B), Uzbekistan ($369M), Russia ($315M), Turkey ($305M), and Italy ($105M).
Imports The top imports of Turkmenistan are Gas Turbines ($103M), Raw Iron Bars ($103M), Packaged Medicaments ($101M), Other Large Iron Pipes ($101M), and Harvesting Machinery ($80.1M), importing mostly from Turkey ($786M), Russia ($649M), China ($445M), Germany ($193M), and United Arab Emirates ($182M).
Location Turkmenistan borders Afghanistan, Iran, Kazakhstan, and Uzbekistan by land and Azerbaijan by sea.
Latest Trends
#permalink to sectionLatest Trade
#permalink to sectionThe following section uses the most recent trade data from partners of Turkmenistan.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Latest Data
#permalink to sectionData is presented based on data availability. Only countries using the Harmonic System (HS) are selected. Every source is shown using their own latest twelve months of data.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Historical Data
#permalink to sectionYearly Exports
#permalink to sectionTop Export (2020): Petroleum Gas, $5.31B
Top Destination (2020): China, $5.32B
In 2020, Turkmenistan exported a total of $6.94B, making it the number 101 exporter in the world. During the last five reported years the exports of Turkmenistan have changed by -$2.16B from $9.1B in 2015 to $6.94B in 2020.
The most recent exports are led by Petroleum Gas ($5.31B), Crude Petroleum ($354M), Refined Petroleum ($220M), Special Purpose Ships ($195M), and Nitrogenous Fertilizers ($170M). The most common destination for the exports of Turkmenistan are China ($5.32B), Uzbekistan ($369M), Russia ($315M), Turkey ($305M), and Italy ($105M).
Yearly Imports
#permalink to sectionTop Import (2020): Gas Turbines, $103M
Top Origin (2020): Turkey, $786M
In 2020 Turkmenistan imported $3.22B, making it the number 150 trade destination in the world. During the last five reported years the imports of Turkmenistan changed by -$3.41B from $6.63B in 2015 to $3.22B in 2020.
The most recent imports of Turkmenistan are led by Gas Turbines ($103M), Raw Iron Bars ($103M), Packaged Medicaments ($101M), Other Large Iron Pipes ($101M), and Harvesting Machinery ($80.1M). The most common import partners for Turkmenistan are Turkey ($786M), Russia ($649M), China ($445M), Germany ($193M), and United Arab Emirates ($182M).
Market Growth
#permalink to sectionTariffs
#permalink to sectionTariffs by Product
#permalink to sectionThe 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:
Economic Complexity
#permalink to sectionMost Specialized Products by RCA Index
#permalink to sectionTurkmenistan has a high level of specialization in Petroleum Gas (58.9), Sulphur (38.8), Halogens (29.6), Non-Retail Pure Cotton Yarn (27.3), and Nitrogenous Fertilizers (18.2). Specialization is measured using RCA, an index that takes the ratio between Turkmenistan observed and expected exports in each product.
Most Complex Products by PCI
#permalink to sectionThe highest complexity exports of Turkmenistan according to the product complexity index (PCI) are Articles of copper nes (0.88), Carbon (carbon blacks and other forms of carbon, nes) (0.36), Synth monofilament >67dtex <1mm, strip, straw<5mm wide (0.32), Polymers of propylene, other olefins in primary forms (0.088), and Float glass, surface ground, polished glass in sheets (0.076). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
Export Opportunities by Relatedness
#permalink to sectionThe top export opportunities for Turkmenistan according to the relatedness index, are Insect Resins (0.057), Chromium Ore (0.057), Raw Aluminium (0.056), Gold (0.056), and Iron Reductions (0.055). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Turkmenistan is not specialized in.
Product Space
#permalink to sectionThe 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 a country currently specializes in.
Diversification Frontier
#permalink to sectionThe Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.
Economic Complexity Ranking
#permalink to sectionDuring the last 19 years Turkmenistan's economy has become relatively more complex, moving from the 91st to the 88th 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.
