Turkmenistan
2021 Economic Complexity Trade : -0.55, Rank 86 of 131
2021 Product Exports | Imports: $7.2B | $3.47B, 108 of 226 | 153 of 226
2021 Per Capita Product Exports | Imports: $1.18k | $567, 122 of 219 | 176 of 219
Overview In 2021, Turkmenistan was the number 0 economy in the world in terms of GDP (current US$), the number 108 in total exports, the number 153 in total imports, the number 0 economy in terms of GDP per capita (current US$) and the number 86 most complex economy according to the Economic Complexity Index (ECI) .
Exports The top exports of Turkmenistan are Petroleum Gas ($4.88B), Refined Petroleum ($808M), Nitrogenous Fertilizers ($279M), Crude Petroleum ($211M), and Non-Retail Pure Cotton Yarn ($170M), exporting mostly to China ($4.79B), Turkey ($665M), Uzbekistan ($630M), Georgia ($205M), and Russia ($134M).
Imports The top imports of Turkmenistan are Planes, Helicopters, and/or Spacecraft ($173M), Cars ($86.5M), Packaged Medicaments ($81.6M), Insulated Wire ($74.7M), and Vaccines, blood, antisera, toxins and cultures ($71.2M), importing mostly from Turkey ($978M), China ($513M), Russia ($473M), United Arab Emirates ($247M), and Germany ($214M).
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 sectionThe data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.
*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 (2021): Petroleum Gas, $4.88B
Top Destination (2021): China, $4.79B
In 2021, Turkmenistan exported a total of $7.2B, making it the number 108 exporter in the world. During the last five reported years the exports of Turkmenistan have changed by -$169M from $7.37B in 2016 to $7.2B in 2021.
The most recent exports are led by Petroleum Gas ($4.88B), Refined Petroleum ($808M), Nitrogenous Fertilizers ($279M), Crude Petroleum ($211M), and Non-Retail Pure Cotton Yarn ($170M). The most common destination for the exports of Turkmenistan are China ($4.79B), Turkey ($665M), Uzbekistan ($630M), Georgia ($205M), and Russia ($134M).
Market Growth
#permalink to sectionEconomic Complexity
#permalink to sectionMost Specialized Products by RCA Index
#permalink to sectionTurkmenistan has a high level of specialization in Sulphur (45.3), Petroleum Gas (32.6), Non-Retail Pure Cotton Yarn (31.2), Halogens (24.8), and Nitrogenous Fertilizers (22.4). 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 Polymers of propylene or of other olefins, in primary forms (0.18), Synthetic monofilament of 67 decitex or more, of which no cross-sectional dimension... (0.14), Synthetic filament yarn (other than sewing thread), not put up for retail... (0.092), Asphalt or similar material; articles (e.g. petroleum bitumen or coal tar pitch) (-0.11), and Tubes, pipes and hoses and fittings thereof (for example, joints, elbows, flanges),... (-0.19). 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, were Crude Petroleum (0.069), Gold (0.062), Insect Resins (0.06), Chromium Ore (0.06), and Manganese Ore (0.056). 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 20 years Turkmenistan's economy has become relatively less complex, moving from the nullth to the 86th 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.
