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 gases and other gaseous hydrocarbons ($5.31B), Petroleum oils and oils obtained from bituminous minerals; crude ($354M), Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing... ($220M), Light-vessels, fire-floats, dredgers, floating cranes, other vessels; the navigability of which is... ($195M), and Fertilizers; mineral or chemical, nitrogenous ($170M), exporting mostly to China ($5.32B), Uzbekistan ($369M), Russia ($315M), Turkey ($305M), and Italy ($105M).

Imports The top imports of Turkmenistan are Turbo-jets, turbo-propellers and other gas turbines ($103M), Iron or non-alloy steel; bars and rods, not further worked than forged,... ($103M), Medicaments; (not goods of heading no. 3002, 3005 or 3006) consisting of... ($101M), Iron or steel (excluding cast iron); tubes and pipes (e.g. welded, riveted... ($101M), and Harvesting and threshing machinery, straw and fodder balers, grass or hay mowers;... ($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.

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The 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.

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Data 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

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Top Export (2020): Petroleum gases and other gaseous hydrocarbons, $5.31B

Top Destination (2020): China, $786M

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 gases and other gaseous hydrocarbons ($5.31B), Petroleum oils and oils obtained from bituminous minerals; crude ($354M), Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing... ($220M), Light-vessels, fire-floats, dredgers, floating cranes, other vessels; the navigability of which is... ($195M), and Fertilizers; mineral or chemical, nitrogenous ($170M). The most common destination for the exports of Turkmenistan are China ($5.32B), Uzbekistan ($369M), Russia ($315M), Turkey ($305M), and Italy ($105M).

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Fastest Growing Export Markets (N/A - N/A)

Fastest Growing Import Markets (N/A - N/A)

Economic Complexity

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Most Specialized Products by RCA Index

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Turkmenistan has a high level of specialization in Petroleum gases and other gaseous hydrocarbons (58.9), Sulphur of all kinds; other than sublimed, precipitated and colloidal sulphur (38.8), Fluorine, chlorine, bromine and iodine (29.6), Cotton yarn (other than sewing thread), containing 85% or more by weight of cotton, not put up for retail sale (27.3), and Fertilizers; mineral or chemical, nitrogenous (18.2). Specialization is measured using RCA, an index that takes the ratio between Turkmenistan observed and expected exports in each product.

Export Opportunities by Relatedness

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The top export opportunities for Turkmenistan according to the relatedness index, are Lac; natural gums, resins, gum-resins and oleoresins (for example, balsams) (0.057), Chromium ores and concentrates (0.057), Aluminium; unwrought (0.056), Gold (including gold plated with platinum) unwrought or in semi-manufactured forms, or in powder form (0.056), and Ferrous products obtained by direct reduction of iron ore and other spongy ferrous products, in lumps, pellets or the like; iron having a minimum purity of 99.94%, in lumps, pellets or similar forms (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.

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 a country currently specializes in.

Relatedness Space

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This network shows the products most related to the production structure of Turkmenistan. These are products that tend to be co-exported with the products that Turkmenistan exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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The 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

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During 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.

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