Turkmenistan
2019 Economic Complexity: -0.61, Rank 110 of 157
2019 Product Exports | Imports: $9.33B | $3.02B, 92 of 225 | 149 of 225
2019 Per Capita Product Exports | Imports: $1.57k | $508, 102 of 219 | 174 of 219
Overview: In 2019 Turkmenistan was the number 0 economy in the world in terms of GDP (current US$), the number 92 in total exports, the number 149 in total imports, the number 0 economy in terms of GDP per capita (current US$) and the number 110 most complex economy according to the Economic Complexity Index (ECI).
Exports: The top exports of Turkmenistan are Petroleum Gas ($7.59B), Refined Petroleum ($602M), Crude Petroleum ($339M), Non-Retail Pure Cotton Yarn ($146M), and Nitrogenous Fertilizers ($107M), exporting mostly to China ($7.65B), Uzbekistan ($374M), Turkey ($329M), Azerbaijan ($184M), and Romania ($147M).
Imports: The top imports of Turkmenistan are Other Large Iron Pipes ($136M), Harvesting Machinery ($121M), Packaged Medicaments ($86.6M), Broadcasting Equipment ($66.7M), and Tractors ($63.6M), importing mostly from Turkey ($744M), Russia ($543M), China ($431M), United Arab Emirates ($267M), and Germany ($180M).
Location: Turkmenistan borders Afghanistan, Iran, Kazakhstan, and Uzbekistan by land and Azerbaijan by sea.
Product Trade
#permalink to sectionYearly Exports
#permalink to sectionTop Export (2019): Petroleum Gas, $7.59B
Top Destination (2019): China, $7.65B
In 2019, Turkmenistan exported a total of $9.33B, making it the number 92 exporter in the world. During the last five reported years the exports of Turkmenistan have changed by -$1.33B from $10.7B in 2014 to $9.33B in 2019.
The most recent exports are led by Petroleum Gas ($7.59B), Refined Petroleum ($602M), Crude Petroleum ($339M), Non-Retail Pure Cotton Yarn ($146M), and Nitrogenous Fertilizers ($107M). The most common destination for the exports of Turkmenistan are China ($7.65B), Uzbekistan ($374M), Turkey ($329M), Azerbaijan ($184M), and Romania ($147M).
Yearly Imports
#permalink to sectionTop Import (2019): Other Large Iron Pipes, $136M
Top Origin (2019): Turkey, $744M
In 2019 Turkmenistan imported $3.02B, making it the number 149 trade destination in the world. During the last five reported years the imports of Turkmenistan changed by -$5.89B from $8.91B in 2014 to $3.02B in 2019.
The most recent imports of Turkmenistan are led by Other Large Iron Pipes ($136M), Harvesting Machinery ($121M), Packaged Medicaments ($86.6M), Broadcasting Equipment ($66.7M), and Tractors ($63.6M). The most common import partners for Turkmenistan are Turkey ($744M), Russia ($543M), China ($431M), United Arab Emirates ($267M), and Germany ($180M).
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 sectionEconomic Complexity Ranking
#permalink to sectionDuring the last 20 years Turkmenistan's economy has become relatively less complex, moving from the 87th to the 110th 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.
Most Specialized Products by RCA Index
#permalink to sectionTurkmenistan has a high level of specialization in Petroleum Gas (49.2), Non-Retail Pure Cotton Yarn (23.2), Sulphur (20.4), Halogens (15.9), and Other Vegetable Products (9.08). 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 Compounds, mixes of rare-earths, yttrium, scandium nes (0.79), Synth monofilament >67dtex <1mm, strip, straw<5mm wide (0.65), Polymers of propylene, other olefins in primary forms (0.27), Float glass, surface ground, polished glass in sheets (0.059), and Electrical energy (-0.56). 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 Crude Petroleum (0.067), Gold (0.054), Insect Resins (0.052), Other Oily Seeds (0.05), and Other Nuts (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.
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 it is currently specialized in.
Diversification Frontier
#permalink to sectionThe 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.
