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Turkmenistan: The Economy
Country Study > Chapter 9 > The Economy

THE ECONOMY


Turkmenistan's economy is predominantly agricultural. Agriculture accounts for almost half of the gross domestic product (GDP -- see Glossary) and more than two-fifths of total employment, whereas industry accounts for about one-fifth of GDP and slightly more than one-tenth of total employment. In 1988 the per capita net material product (NMP -- see Glossary) output was 61 percent of the Soviet average, fourth lowest of the Soviet republics. In 1991, 17.2 percent of the work force was engaged in private-sector occupations such as farming, individual endeavors, and employment on agreement; 0.7 percent worked in rented enterprises, and the rest worked for state enterprises, social organizations, and collective farms.

Macroeconomic indicators of the performance of Turkmenistan's national economy have differed widely in the late Soviet and early independence years, making precise assessment difficult. According to one source, the per capita GDP was US$2,509 in 1992, placing it higher than Tajikistan and Uzbekistan, but lower than Kazakhstan and much lower than some of the other former Soviet republics. Another source lists a 17 percent increase in industrial output between 1991 and 1992. On the other hand, several sources agree that the NMP aggregate figure for 1992 was a 15 percent decline from the previous year. One source claims that GDP in Turkmenistan increased by 8.5 percent in 1993, while another regards as suspect the statistical methods applied to the data on which this figure is based.

Data as of March 1996




Last Updated: March 1996


Editor's Note: Country Studies included here were published between 1988 and 1998. The Country study for Turkmenistan was first published in 1996. Where available, the data has been updated through 2008. The date at the bottom of each section will indicate the time period of the data. Information on some countries may no longer be up to date. See the "Research Completed" date at the beginning of each study on the Title Page or the "Data as of" date at the end of each section of text. This information is included due to its comprehensiveness and for historical purposes.

Note that current information from the CIA World Factbook, U.S. Department of State Background Notes, Australia's Department of Foreign Affairs and Trade Country Briefs, the UK's Foreign and Commonwealth Office's Country Profiles, and the World Bank can be found on Factba.se.

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