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 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.
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 Trade
#permalink to sectionTop 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).
Market Growth
#permalink to sectionEconomic Complexity
#permalink to sectionMost Specialized Products by RCA Index
#permalink to sectionTurkmenistan 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.
Most Complex Products by PCI
#permalink to sectionThe highest complexity exports of Turkmenistan according to the product complexity index (PCI) are Copper; articles thereof n.e.c. in chapter 74 (0.88), Carbon; carbon blacks and other forms of carbon n.e.c. (0.36), Synthetic monofilament of 67 decitex or more, of which no cross-sectional dimension exceeds 1mm; strip and the like (e.g. artificial straw) of synthetic textile materials of an apparent width not exceeding 5mm (0.32), Polymers of propylene or of other olefins, in primary forms (0.088), and Glass; float glass and surface ground or polished glass, in sheets, whether or not having an absorbent, reflecting or non-reflecting layer, but not otherwise worked (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 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.
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.
