Editing Economy of Turkmenistan

{{Short description|none}}
{{Lead rewrite|date=November 2023}}
{{use dmy dates|date=August 2024}}
{{Infobox economy
|country         = Turkmenistan
|image           = File:Jack-up-rig-in-the-caspian-sea.JPG
|image_size      = 300px
|caption         = [[Oil platform]] of Turkmenistan in the [[Caspian Sea]]
|currency        = [[Turkmen manat]] (TMT, ₼)
|year            = Calendar year
|organs          = [[Commonwealth of Independent States|CIS]], [[Economic Cooperation Organization|ECO]]
|gdp             = {{plainlist|
*{{increase}} US$90.904 billion  (nominal, 2024 est.)<ref name="IMFWEOTM">{{cite web |url=https://www.imf.org/en/Publications/WEO/weo-database/2023/April/weo-report?c=925,&s=NGDPD,PPPGDP,NGDPDPC,PPPPC,PCPIPCH,&sy=2020&ey=2020&ssm=0&scsm=1&scc=0&ssd=1&ssc=0&sic=0&sort=country&ds=.&br=1 |title=World Economic Outlook Database, October 2023 |publisher=[[International Monetary Fund]] |website=IMF.org |access-date=14 October 2023}}</ref>
*{{increase}} US$131.710 billion ([[Purchasing power parity|PPP]], 2024 est.)<ref name="IMFWEOTM"/>}}
|gdp rank        = 94th (PPP, 2023)
|growth          = {{plainlist|
*6.2%&nbsp;(2018) 6.3%&nbsp;(2019)
*1.8%&nbsp;(2020e) 4.0%&nbsp;(2021f)<ref>{{cite book |title=Global Economic Prospects, June 2020 |page=80 |url=https://openknowledge.worldbank.org/handle/10986/33748 |via=openknowledge.worldbank.org |date=8 June 2020 |publisher=[[World Bank]] |doi=10.1596/978-1-4648-1553-9 |isbn=978-1-4648-1553-9 |access-date=16 June 2020}}</ref><ref name="IMFWEOTM" />}}
|per capita      = {{plainlist|
*{{increase}} US$14,434 (nominal, 2023 est.)<ref name="IMFWEOTM"/>
*{{increase}} US$20,914 ([[Purchasing power parity|PPP]], 2023 est.)<ref name="IMFWEOTM"/>}}
|components      =
|sectors         = agriculture (12.7%), industry (50.1%), services (37.7%) (2018 est.)
|inflation       = 8% (2020)<ref name="IMFWEOTM"/>
|poverty         = 0.2% (2018 est.)
|gini            =
|hdi             = {{plainlist|
*{{increase}} 0.745 {{color|green|high}} (2021)<ref>{{cite web |url=http://hdr.undp.org/en/indicators/137506 |title=Human Development Index (HDI) |publisher=[[Human Development Report|HDRO (Human Development Report Office)]] [[United Nations Development Programme]] |website=hdr.undp.org |access-date=8 September 2022}}</ref> ([[List of countries by Human Development Index|91th]])
*{{increase}} 0.619 {{color|orange|medium}}[[List of countries by inequality-adjusted HDI|IHDI]] (2021)<ref>{{cite web |url=http://hdr.undp.org/en/content/table-3-inequality-adjusted-human-development-index-ihdi |title=Inequality-adjusted Human Development Index (IHDI) |publisher=[[Human Development Report|HDRO (Human Development Report Office)]] [[United Nations Development Programme]] |website=hdr.undp.org |access-date=9 September 2022}}</ref>}}
|labour           = 2.405 million (2018 est.)
|occupations     = agriculture (44.2%), industry (15%), services (40.8%)  (2018 est.)
|unemployment    = 15% (2020 est.)
|industries      = [[natural gas]], [[oil]], [[petroleum]] products, [[textiles]], [[food]] processing
|exports         = {{decrease}} US$7.2 billion (2019)
|export-goods    = [[Natural gas|gas]], [[crude oil]], [[petrochemicals]], [[textiles]], [[cotton fiber]]
|export-partners = {{plainlist|
*{{flag|China}} 66.5%
*{{flag|Turkey}} 9.23%
*{{flag|Uzbekistan}} 8.76%
*{{flag|Georgia}} 2.85
*{{flag|Russia}} 1.86%
*{{flag|Brazil}} 1.37%
*{{flag|Iran}} 1.18%
*{{flag|Greece}} 1.17%
*{{flag|Ukraine}} 1.14%
*{{flag|Italy}} 0.99% (2021)<ref name="OECexport">{{cite web |title=Export partners of Turkmenistan |url=https://oec.world/en/visualize/tree_map/hs92/export/tkm/show/all/2021/ |publisher=[[The Observatory of Economic Complexity]] |access-date=19 June 2021}}</ref>}}
|imports         = {{decrease}} US$3.47 billion (2021)
|import-goods    = [[machinery]] and equipment, [[chemicals]], [[foodstuff]]s
|import-partners = {{plainlist|
*{{flag|Turkey}} 28.2% 
*{{flag|China}} 14.8% 
*{{flag|Russia}} 13.6% 
*{{flag|United Arab Emirates}} 7.13% 
*{{flag|Germany}} 6.18%
*{{flag|Italy}} 5.13%
*{{flag|Iran}} 3.23%
*{{flag|Uzbekistan}} 2.75%
*{{flag|USA}} 2.27%
*{{flag|Brazil}} 1.77% (2021)<ref>{{cite web|url= https://oec.world/en/visualize/tree_map/hs92/import/tkm/show/all/2021/ |title=Import Partners of Turkmenistan|publisher=[[The Observatory of Economic Complexity]]|year=2019|access-date=2021-06-19}}</ref>}}
|gross external debt = {{increaseNegative}} US$5 billion (2021)<ref name=altynasyr1 />
|FDI             =
|debt            = 
|revenue         = US$9.047 billion  (2019 est.)
|expenses        = US$10.659 billion (2019 est.)
|reserves        = {{Increase}} US$40.06 billion (31 December 2018 est.)<ref>{{cite web|title=Turkmen Central Bank reserves|date=31 December 2014|publisher=PortTurkey.com|url=https://www.cia.gov/the-world-factbook/countries/turkmenistan/|access-date=2015-07-06}}</ref>
|aid             = US$4.3 million from the United States ({{As of|2021}})<ref>{{cite web|url=https://explorer.usaid.gov/cd/TKM?implementing_agency_id=1|title=US Foreign Aid by Country|access-date=March 14, 2021|archive-date=May 16, 2021|archive-url=https://web.archive.org/web/20210516231708/https://explorer.usaid.gov/cd/TKM?implementing_agency_id=1|url-status=dead}}</ref>
|credit          =
|foreign exchange reserves={{increase}}US$35.05 billion  (31 December 2018 est.)
|cianame         = turkmenistan
|spelling        =
}}
The '''economy of Turkmenistan''' continues to recover from the 2014 downturn in hydrocarbon prices,<ref name=invclimate>{{cite web|url=https://www.state.gov/reports/2020-investment-climate-statements/turkmenistan/|title=2020 Investment Climate Statements: Turkmenistan|date=2020|publisher=US Department of State}}</ref> but remains "in the grip of its worst economic crisis since the immediate post-independence period, driven in part by low gas prices, the suspension of gas exports to Russia between 2016 and 2019...and poor harvests."<ref name=fpi>{{cite web|url=https://fpc.org.uk/wp-content/uploads/2019/07/FPC-Spotlight-on-Turkmenistan-publication.pdf|title=Spotlight on Turkmenistan|page=7|date=July 2019|publisher=Foreign Policy Centre}}</ref> Former President [[Gurbanguly Berdimuhamedow]] at a session of the [[Cabinet of Ministers (Turkmenistan)|Cabinet of Ministers]] on 11 March 2021, called the rate of [[GDP]] growth unsatisfactory.<ref name=altynasyr1 /><ref name=guardian>{{cite news|url=https://guardian.ng/news/turkmenistan-leader-frets-over-foreign-debt/|title=Turkmenistan leader frets over foreign debt|date=12 March 2021|publisher=Guardian}}</ref> When discussing the 2021 government budget, he noted that 2021 would be "as difficult" a year as 2020 had been.<ref name=hard>{{cite news|url=https://www.hronikatm.com/2020/10/budget-cuts-2/|title=Госбюджет на 2021 год сократили на 6% по сравнению с 2020 годом и на 23% по сравнению с 2017|date=26 October 2020|language=Russian|publisher=Chronicles of Turkmenistan}}</ref>
According to the 2020 Investment Climate Statement of the [[United States Department of State|US Department of State]], [[Turkmenistan]]'s economy depends heavily on the production and export of natural gas, oil, petrochemicals and, to a lesser degree, cotton, wheat, and textiles.  The economy is still recovering from a deep recession that followed the late [[2014–2016 world oil market chronology|2014 collapse in global energy prices]].  The current investment climate is considered high risk for US foreign direct investment.<ref name="invclimate" />

Turkmenistan is largely a [[desert]] country with [[intensive agriculture]] in irrigated areas, and huge [[natural gas|gas]] and [[petroleum|oil]] resources. In terms of natural gas reserves, as of 2020 it is ranked 4th in the world.<ref name=bp>{{cite web|url=https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/energy-economics/statistical-review/bp-stats-review-2020-full-report.pdf|title=Statistical Review of World Energy|date=2020|publisher=BP}}</ref> Turkmenistan's two largest agricultural crops are [[cotton]], most of which is produced for export, and wheat, most of which is domestically consumed.<ref name="cia.gov">{{cite web|url=https://www.cia.gov/the-world-factbook/countries/turkmenistan/|title=The World Factbook|access-date=4 March 2015}}</ref> Turkmenistan is among [[Cotton#Leading producer countries|the top ten producers of cotton in the world]].

== History ==
From 1998 to 2005, Turkmenistan suffered from a lack of adequate export routes for natural gas and from obligations on extensive short-term external debt. At the same time, however, total exports rose by an average of roughly 15% per year from 2003 to 2008, largely because of higher international oil and gas prices.{{Citation needed|date=November 2020}} As in the Soviet era, [[economic planning|central planning]] and state control is prominent in the system, and the Niyazov government (in power 1991–2006) consistently rejected market reform programs.<ref name=":1">{{Cite web|date=February 2007|title=Country Profile: Turkmenistan|url=http://lcweb2.loc.gov/frd/cs/profiles/Turkmenistan.pdf|url-status=usurped|archive-url=https://web.archive.org/web/20130311113115/http://lcweb2.loc.gov/frd/cs/profiles/Turkmenistan.pdf|archive-date=11 March 2013|publisher=[[Federal Research Division]], [[Library of Congress]]|postscript=. {{PD-notice}}}}</ref> The state subsidized a wide variety of commodities and services from the early 1990s to 2019.<ref name=":1" /><ref>{{cite news| url = https://www.rferl.org/a/turkmenistan-cuts-last-vestiges-of-program-for-free-utilities/29511308.html| title = Turkmenistan Cuts Last Vestiges Of Program For Free Utilities| newspaper = Radio Free Europe/Radio Liberty| date = 26 September 2018}}</ref><ref>{{Cite web|title=Lines, price rises and expensive booze – the cost of happiness in Turkmenistan {{!}} Eurasianet|url=https://eurasianet.org/lines-price-rises-and-expensive-booze-the-cost-of-happiness-in-turkmenistan|access-date=2020-11-03|website=eurasianet.org|language=en}}</ref> Following his election in 2007, President [[Gurbanguly Berdimuhamedow]] unified the country's dual currency [[exchange rate]], ordered the redenomination of the manat, reduced state subsidies for gasoline, and initiated development of a special tourism zone ([[Awaza]]) on the [[Caspian Sea]].

Since 2009, Turkmenistan has maintained a fixed exchange rate. In that year, the rate was set at [[United States dollar|US$]]1 to 2.85 [[Turkmenistani manat|manats]].<ref name=kurs>{{cite web|url=https://www.cbt.tm/ru/archive.html|title=Archive / Currency exchange rates|publisher=Central Bank of Turkmenistan|language=Russian, Turkmen, English}}</ref>  On 1 January 2015, the official exchange rate was changed to US$1 to 3.50 manats.<ref name=kurs /><ref name="cia.gov" /><ref name=invclimate /> However, the black-market exchange rate as of February 2021 was fluctuating around 29 to 30 manats to the dollar.<ref name=hron1>{{cite news|url=https://www.hronikatm.com/2021/02/exchange-rate-56/|title=Курс доллара на "черном рынке" на 21 февраля|date=21 February 2021|language=Russian|publisher=Chronicles of Turkmenistan}}</ref> As of mid-April, the black-market manat-dollar exchange rate had slid to 40 manat to the dollar.<ref name=hronika70>{{cite news|url=https://www.hronikatm.com/2021/04/exchange-rate-70/|title=1 доллар – 40 манатов|date=8 April 2021 |language=Russian|publisher=Chronicles of Turkmenistan}}</ref><ref name=hronika71>{{cite news|url=https://www.hronikatm.com/2021/04/exchange-rate-71/ |title=Курс доллара на "черном рынке" на 11 апреля |date=11 April 2021 |language=Russian|publisher=Chronicles of Turkmenistan}}</ref>

==Fiscal policy==
The government budget is developed and implemented in accord with the Law “On Budget System”. The law fixes the legal foundations of organizing management and operating the budget system, and regulates interrelations between budgets at all levels. The government of [[Turkmenistan]] discusses the state budget draft and submits it to the [[President of Turkmenistan]]. One month prior to the beginning of the fiscal year the President of Turkmenistan submits to the [[Assembly of Turkmenistan]] (Mejlis) the state budget draft for consideration and adoption. The [[Ministry of Finance (Turkmenistan)|Ministry of Economy and Finance]] is responsible for state finances.

Budget statistics are unreliable because the government spends large amounts of extra-budgetary funds.<ref name=":1" /> The 2021 budget of the Turkmenistan government totaled 79.5&nbsp;billion&nbsp;manats of revenue, down from 84.39&nbsp;billion&nbsp;manats in 2020, and 103.57&nbsp;billion&nbsp;manats in 2017.  The 2021 expenditure budget was set at 72.1&nbsp;billion&nbsp;manats.<ref name=azat1>{{cite news|url=https://rus.azathabar.com/a/30913898.html|title=Госбюджет Туркменистана на 2021 год опять оказался меньше, чем предыдущий|date=26 October 2020|language=Russian|publisher=RFE/RL}}</ref><ref name=budget2020>{{cite news|url=https://turkmenistan.gov.tm/ru/post/36737/zakon-turkmenistana-o-gosudarstvennom-byudzhete-turkmenistana-na-2021-god|title=Закон Туркменистана о Государственном бюджете Туркменистана на 2021 год|date=25 October 2020|language=Russian|publisher=«Туркменистан: золотой век»}}</ref> In November 2023 state media reported the 2022 budget as 124.299 billion manats revenue and 117,601 billion manats expenditure.<ref name="2022budget">{{citation | url=https://tdh.gov.tm/ru/post/38779/postanovlenie-medzhlisa-turkmenistana-6 | title= Постановление Меджлиса Туркменистана Об исполнении Государственного бюджета Туркменистана за 2022 год |trans-title = Resolution of the Turkmenistan Mejlis on execution of the state budget of Turkmenistan for 2022 | date= 25 November 2023 |language=ru |publisher=Туркменистан сегодня}}</ref>

The [[Central Bank of Turkmenistan]] controls the issue of money, but does not publish data on the money supply.<ref name=cbt4>{{cite web|url=https://www.cbt.tm/en/laws/tmb_hakynda_kanun.html|title=LAW OF TURKMENISTAN On Central Bank of Turkmenistan|access-date=14 March 2021}}</ref>

The Central Bank promotes cashless transactions.<ref name=beznalich>{{cite web|url=https://www.cbt.tm/ru/payment/payment.html|title=Платежная система Туркменистана|language=Russian|publisher=Central Bank of Turkmenistan}}</ref>  In the January–April period of 2020, the volume of cashless transactions using debit cards slightly more than tripled compared to the same period in 2019, to just under 1.9 billion manat.<ref name=beznalich2>{{cite news|url=https://business.com.tm/ru/post/5548/obem-beznalichnyh-raschetov-v-turkmenistane-priblizilsya-k-2-mlrd-manat|title=Объем безналичных расчетов в Туркменистане приблизился к 2 млрд. манат|date=26 May 2020|language=Russian|publisher=Business Turkmenistan}}</ref> This shift from cash to electronic payments was not without problems; shortages of cash in automatic teller machines and inadequate availability of card payment facilities at points of sale were reported.<ref name=beznalich3>{{cite news|url=https://www.hronikatm.com/2020/04/atm-limits/|title=Бердымухамедов призвал внедрять безналичный расчет. Банки сократили лимит на снятие наличных.|date=13 April 2020|language=Russian|publisher=Chronicles of Turkmenistan}}</ref>

At least one non-governmental organization has openly called the economy of Turkmenistan a [[kleptocracy]].<ref name=crudeacc>{{cite web|url=https://crudeaccountability.org/wp-content/uploads/web_Turkmenistan_A_Model_Kleptocracy_report.pdf|title=Turkmenistan: A Model Kleptocracy |date=June 2021 |publisher=[[Crude Accountability]] }}</ref>

==Industry==
In the post-Soviet era, Turkmenistan's industrial sector has been dominated increasingly by the fuel and cotton processing industries to the detriment of light industry.<ref name=":1" /> Between 1991 and 2004, some 14 new cotton-processing plants were opened, sharply increasing the capability of processing domestically produced cotton.<ref name=":1" /> The construction industry depends mainly on government building projects because construction of private housing is a low priority.<ref name=":1" />

===Natural gas===
''See also [[Turkmenistan#Natural gas and export routes|Turkmenistan / Natural gas and export routes]]''

Turkmenistan's natural gas reserves are estimated at 50 trillion cubic meters.<ref name=gasreserves>{{cite news|url=https://www.silkroadbriefing.com/news/2022/03/31/turkmenistan-becomes-new-hunting-ground-for-eu-gas-supplies/ |title=Turkmenistan Becomes New Hunting Ground For EU Gas Supplies |publisher=Silk Road Briefing | date=31 March 2022| first=Chris | last=Devonshire-Ellis}}</ref>

Turkmenistan's major gas deposits were discovered in its central and eastern areas in the 1940s and 1950s, and in the 1980s the republic became the second largest producer of gas in the Soviet Union, behind the [[RSFSR|Russian SFSR]]. During the Soviet era gas was exported mainly to other Soviet republics, as Turkmenistan steadily increased delivery from about 9.2 million m³ in 1940 to about 234 million m³ in 1960 and about 51 billion m³ in 1975. This export was under centralised control, and most of the export revenue was absorbed into the Soviet central budget.<ref name="Abazov">{{cite book | last=Abazov| first=Rafis| title=Historical Dictionary of Turkmenistan|pages=64–65|publisher=Scarecrow Press|date=2005|isbn=0-8108-5362-0}}</ref><ref>According to a Turkmen college textbook published in 2010, "Between 1959 and 1965, the Derweze, Takyr, Shyh, Chaljulba, Topjulba, Chemerli, Atabay, Sakarchage, Atasary, Mydar, Goyun, and Zakli oil and gas fields were opened in the central Karakum Desert. The gas and oil layers are associated with sediments of the Jurassic and Mesozoic periods. The Bowrudeshik-Khiva gas field is located in the north-east of Turkmenistan. Here, natural gas is obtained from depths of 1700 to 3200 meters in the Ojak, Nayip, Kerpichli, and North Balguy wells. The Charjew gas play is located midway up the Amu Darya. The Gogurtly, Eljik, Farap, Kishtuwan, Samandepe, Matejan, Sakar, Bagaja, Baygushly, Khorezm and other gas fields were opened here. Gas is found at depths of 2300 to 2600 meters. In the Murgap gas play are the Dovlettabat, Donmez, Gummezli, Sandikgachy, Shatlyk, Bayramaly, May, Kelif, Sharaply, Yylan, Uchaji, Seyran, Tejen, Kulanly, Molaker, Mane, and Chache gas fields." {{citation |title=Türkmenistanyň tebigy baýlyklary we olary gaýtadan işlemek |trans-title=Natural resources of Turkmenistan and their processing |first=M. |last=Geldinyýazow |publisher= Türkmenistanyň Bilim Ministrligi Magtymguly adyndaky Türkmen Döwlet Uniwersiteti |date=2010 |language=tk |url=https://www.kitaphana.net/book/158/read }}</ref>

This changed in 1991, when Turkmenistan gained independence and established full control over gas export and export revenues. However, Soviet-era pipelines dictated that much of the gas go to the Caucasus, Russia and Ukraine. In the 1990s many of Turkmenistan's gas customers in the [[Commonwealth of Independent States|CIS]] failed to pay on time or negotiated barter deals. In the mid-1990s Turkmenistan stopped delivering gas to some CIS members, citing failure to pay and unprofitable barter deals. At the same time, the government tried to attract investments in building gas pipelines via Iran to Turkey and Western Europe via Afghanistan to Pakistan. Neither deal went through due to an unfavourable regional security environment and high costs; inflation and the budget deficit rose but privatisation was resisted.

In the late 1990s the government renegotiated its export and price arrangements with [[Gazprom]] and renewed deliveries to [[Georgia (country)|Georgia]], [[Ukraine]], and some other countries.<ref name="Abazov"/> It also opened its first pipeline not to pass through Russia, the [[Korpezhe-Kurt Kui Pipeline]].

On 14 December 2009, the [[Central Asia–China gas pipeline]] was opened, and Turkmenistan began delivering large volumes of natural gas to the [[China National Petroleum Corporation]].<ref name=cacpipe>{{cite web|url=https://www.cnpc.com.cn/en/CentralAsia/CentralAsia_index.shtml|title=Central Asia-China Gas Pipeline|publisher=[[China National Petroleum Corporation]]}}</ref> Combined design capacity of Lines A, B, and C of this pipeline system is 55 billion cubic meters per annum (bcma), of which Turkmenistan's quota was initially 35 bcma.<ref name=cnpc2>{{cite web|url=https://www.cnpc.com.cn/en/FlowofnaturalgasfromCentralAsia/FlowofnaturalgasfromCentralAsia2.shtml|title=Flow of natural gas from Central Asia|publisher=[[China National Petroleum Corporation]]}}</ref> In 2023, the Turkmenistan Ministry of Foreign Affairs stated that Turkmenistan's quota on this pipeline system was 40 bcma.<ref name=China40>{{citation |url=https://mfa.gov.tm/en/news/3990 |title=STATEMENT FOR MEDIA | date=12 August 2023 |publisher=Turkmenistan Ministry of Foreign Affairs}}</ref> By 2015 Turkmenistan was delivering approximately 35 bcma to China, counterbalancing declining exports to Russia, which ended on 1 January 2016.<ref name=rusgas1>{{cite news|url=https://thediplomat.com/2016/01/russias-gazprom-stops-buying-gas-from-turkmenistan/|title=Russia's Gazprom Stops Buying Gas from Turkmenistan|first=Catherine|last=Putz|date=6 January 2016|publisher=The Diplomat}}</ref><ref name=rusgas2>{{cite news|url=https://www.reuters.com/article/russia-gazprom-turkmenistan-idAFR4N14H02P20160114|title=Russia's Gazprom to suspend Turkmen gas purchases for 2016 - Ifax|date=14 January 2016|publisher=Reuters}}</ref>  Russia had earlier restricted its imports to about 10 bcma, and then 5 bcma.<ref name=rferl>{{Cite news|url=https://www.rferl.org/a/iqshloq-ovozi-turkmenistan-pulled-into-russia-s-orbit/29713898.html|title=Is Turkmenistan Being Pulled Into Russia's Orbit?|newspaper=Radio Free Europe/Radio Liberty|date=16 January 2019 |language=en|access-date=2019-01-17 |last1=Pannier |first1=Bruce }}</ref> Russian purchases resumed, albeit in smaller quantities, in 2019.<ref name=rusgas3>{{cite news|url=https://www.rferl.org/a/russia-gazprom-turkmenistan/29883131.html|title=Russia's Gazprom Resumes Buying Turkmen Gas After Three-Year Halt|date=16 April 2019|publisher=RFE/RL}}</ref>

Small-volume sales of an estimated 12 bcma to Iran halted on 1 January 2017, when Turkmenistan unilaterally cut off supplies over payment arrears.<ref name=irangas1>{{cite news|url=https://www.reuters.com/article/us-iran-turkmenistan-gas-violation/turkmenistan-limits-natural-gas-supplies-to-iran-over-arrears-idUSKBN14N1T9|title=Turkmenistan limits natural gas supplies to Iran over arrears|date=3 January 2017|publisher=Reuters}}</ref><ref name=irangas2>{{cite news|url=https://www.rferl.org/a/turkmenistan-iran-gas-dispute-dwindling-options/28209476.html|title=Turkmen Cutoff Of Iran Leaves Dwindling Gas Options For Ashgabat|date=2 January 2017|first=Bruce|last=Pannier|publisher=RFE/RL}}</ref> Ashgabat claimed Tehran owed some $1.8 billion for supplies delivered nearly 10 years before.<ref name=rferl /> In March 2025 Turkmenistan began selling natural gas to Turkey via a Turkmenistan-Iran, Iran-Turkey swap with the goal of shipping 1.3 bcm by the end of the year.<ref>{{citation | url= https://oxu.az/ru/v-mire/turkmenskij-gaz-postupil-v-turciyu |title= Туркменский газ поступил в Турцию |trans-title=Turkmen gas went to Turkey | date=3 March 2025 | language=ru |publisher= Oxu.Az}}</ref>

In January–November 2020, Turkmenistan extracted 62.3 billion m<sup>3</sup> of natural gas, of which, according to one source, it exported 31 billion.<ref name=jannov2020>{{cite news|url=https://neftegaz.ru/news/dobycha/657143-za-11-mesyatsev-2020-g-dobycha-gaza-v-turkmenistane-sostavila-62-3-mlrd-m3/ |date=25 December 2020 |title= За 11 месяцев 2020 г. добыча газа в Туркменистане составила 62,3 млрд м3 |language=ru |first=Д |last=Савосин |publisher=Neftegaz.RU}}</ref> The state-controlled official media reported in February 2024 natural gas production in calendar year 2023 as 80.6187 billion cubic meters.<ref name=production2023>{{citation | url=https://tdh.gov.tm/ru/post/39520/rasshirennoe-zasedanie-kabineta-ministrov-turkmenistana-21 |title= Расширенное заседание Кабинета Министров Туркменистана |date= 9 February 2024 |language=ru |publisher=Туркменистан сегодня}}</ref>

One observes in the table below that production and exports peaked in 2008 and dramatically decreased in 2009. This was due an explosion in the [[Central Asia–Center gas pipeline system]] in April 2009 for which Turkmenistan blamed [[Gazprom]].<ref>{{cite news|url=http://news.bbc.co.uk/2/hi/asia-pacific/7993625.stm|title=BBC NEWS - Asia-Pacific - Russia blamed for pipeline blast|date=10 April 2009 |access-date=4 March 2015}}</ref> Natural gas exports include pipeline gas directly to China and Russia, and to Azerbaijan via a swap with Iran, plus liquid petroleum gas shipped by rail and truck to Afghanistan.<ref>{{cite news |url=https://www.reuters.com/markets/commodities/iran-turkmenistan-azerbaijan-sign-gas-swap-deal-2021-11-28/ |title=Iran, Turkmenistan and Azerbaijan sign gas swap deal |date=28 November 2021 |publisher=Reuters}}</ref><ref>{{cite news |url=https://caspiannews.com/news-detail/iran-to-double-volume-of-gas-swap-with-azerbaijan-2022-6-4-0/ |title=Iran to Double Volume of Gas Swap with Azerbaijan |first=Kazem |last=Sarabi |date=4 June 2022 |publisher=Caspian News}}</ref>

[[File:TAPI-ceremony-Serhetabat.jpg|thumb|300px|Ceremony on completion of the Turkmen section of the Turkmenistan-Afghanistan-Pakistan-India natural gas pipeline]]
{| class="wikitable" style="text-align:center"
|+ '''Turkmenistan Production, Consumption, and Exports of Natural Gas'''<ref name="bp.com">{{cite web |url=http://www.bp.com/statisticalreview |title=Statistical Review of World Energy 2014 |access-date=4 March 2015}}</ref><ref name=bp2>{{cite web |url=https://www.bp.com/en/global/corporate/energy-economics/statistical-review-of-world-energy.html |title=Statistical Review of World Energy 2020 |publisher=BP |date=2020 |access-date=13 March 2021}}</ref><br>billion cubic meters per annum (bcma)<br>Source: BP Statistical Review
|-
! Year !! Production !! Consumption !! Exports !! Exports<br>to Russia !! Exports<br>to China !! Exports<br>to Iran
|-
| 2005 || 57.0 || 16.1 || 40.9 || 35.1 ||0 || 5.8
|-
| 2008 ||66.1 || 20.5 || 45.6 || 39.1 || 0 || 6.5
|-
| 2009 || 36.4 || 19.9 || 16.7 || 10.7 ||0 || 5.8 
|-
| 2010 || 42.4 || 22.6 || 19.7 || 9.7 || 3.5 || 6.5
|-
| 2011 || 59.5 || 25.0 || 34.5 || 10.1 || 14.3 ||10.2
|-
| 2012 || 62.3 || 23.3 || 41.1 || 9.9 || 21.3 ||9.0
|-
| 2013 || 62.3 || 22.3 || 40.1 || 9.9 || 24.4 ||4.7
|-
| 2014 || 63.5 || 20.0 || n/a || n/a || n/a || n/a 
|-
| 2015 || 65.9 || 25.4 || n/a || n/a || n/a || n/a 
|-
| 2016 || 63.2 || 25.1 || n/a || n/a || n/a || n/a 
|-
| 2017 || 58.7 || 24.8 || n/a || n/a || n/a || n/a 
|-
| 2018 || 61.5 || 28.4 || n/a || n/a || n/a || n/a 
|-
| 2019 || 63.2 || 31.5 || n/a || n/a || n/a || n/a 
|-
|}

In February 2022, Turkmenistan was identified as an ultra-emitter of methane by the European Space Agency's satellite-based TROPOspheric Monitoring Instrument, with the value of lost methane equalling about US$6&nbsp;billion per year.<ref name=bbc-emit>{{cite news|url=https://www.bbc.com/news/science-environment-60203683 |title=Climate change: Satellites map huge methane plumes from oil and gas |first= Georgina |last=Rannard |date=4 February 2022 |publisher=[[BBC]]}}</ref><ref name=sciencemag>{{cite journal |url=https://www.science.org/doi/10.1126/science.abm1676 | journal=Science |volume=375 |issue=6580 |pages=490–491 |first=Thomas |display-authors=etal |last=Lauvaux | title=Chasing after methane's ultra-emitters | year=2022 |publisher=[[American Association for the Advancement of Science]]| doi=10.1126/science.abm1676 | pmid=35113711 | bibcode=2022Sci...375..490V | s2cid=246530721 }}</ref>

====Natural gas to gasoline production====
On 28 June 2019, a US$1.7&nbsp;billion factory for producing [[gasoline]] out of natural gas was commissioned in Ovadandepe.  Built by [[Rönesans Holding|Rönesans]] and [[Kawasaki Heavy Industries|Kawasaki]] using technology from [[Haldor Topsøe (company)|Haldor Topsoe]], the factory has a design capacity of 600,000 tonnes of gasoline, 12,000 tonnes of diesel fuel, and 115,000 tonnes of [[liquefied petroleum gas]] per year, produced from 1.7 billion cubic meters of natural gas.<ref name=kawa>{{cite web|url=https://global.kawasaki.com/en/corp/newsroom/news/detail/?f=20190628_1858|title=Kawasaki Launches World's Largest GTG Plant in Turkmenistan|date=28 June 2019}}</ref><ref name=ren>{{cite web|url=https://rhi.ronesans.com/gas-to-gasoline-gtg-plant-completed-turkmenistan/?lang=en|title=Gas-To-Gasoline (GTG) Plant Completed, Turkmenistan|date=July 2019|access-date=2021-03-15|archive-date=2022-03-27|archive-url=https://web.archive.org/web/20220327072512/https://rhi.ronesans.com/gas-to-gasoline-gtg-plant-completed-turkmenistan/?lang=en|url-status=dead}}</ref><ref name=topsoe>{{cite web|url=https://blog.topsoe.com/worlds-only-natural-gas-to-gasoline-plant-in-operation-in-turkmenistan|title=World's only natural gas-to-gasoline plant in operation in Turkmenistan|date=28 June 2019|first=Svend|last=Ravn}}</ref><ref name=nikkei>{{cite news|url=https://asia.nikkei.com/Business/Kawasaki-Heavy-to-build-world-s-1st-gas-to-gasoline-plant-in-Turkmenistan|title=Kawasaki Heavy to build world's 1st gas-to-gasoline plant in Turkmenistan|date=6 November 2014|first=Yoshifumi|last=Uesaka|publisher=Nikkei Asia}}</ref><ref name=neftegaz>{{cite news|url=https://neftegazru.com/news/worldwide/628322-turkmenistan-and-japan-review-gasoline-production-plant-construction-in-akhal-region/|title=Turkmenistan and Japan review gasoline production plant construction in Akhal region|date=August 31, 2020|first=Jeila|last=Aliyeva|publisher=NeftegazRU.com}}</ref> According to opposition media, as of January 2023 the plant had halted production of export-grade ECO-93 gasoline due to a lack of catalyzers, and was producing only lower-quality gasoline for domestic consumption.<ref>{{citation |url=https://turkmen.news/toplivo-dlya-obmana-turkmenhimiya-ostanovila-rabotu-novogo-zavoda-iz-za-nekhvatki-katalizatorov/ |title=Топливо для обмана. «Туркменхимия» остановила работу нового завода из-за нехватки катализаторов |date=30 January 2023 |publisher=Turkmen.News |language=ru}}</ref>

===Oil===
''See also [[Turkmenistan#Oil|Turkmenistan / Oil]]''

Turkmenistan's major oil-producing area is in the west, mainly in [[Balkan Province]], and is part of the [[South Caspian Basin]], an intercontinental depression noted for oil production. Commercial oil production on the Turkmen side of the [[Caspian Sea]] began in the early 1900s, in the environs of the [[Cheleken Peninsula]], and modern oil drilling began in the 1930s near [[Balkanabat]]. The Gumdag field was developed in 1949, then Goturdepe (1958), Ekerem (1962), and others.  Offshore drilling began in the 1970s.<ref name=oilgas>{{cite book|title=Oil and Gas of the Greater Caspian Area |article=The Petroleum Geology of Western Turkmenistan: The Gograndag-Okarem Province | first=Max A. |last=Torres |page=110 |place=Tulsa, Oklahoma |publisher=American Association of Petroleum Geologists | editor-last1=Yilmaz |editor-first1=Pinar O. |editor-last2=Isaksen |editor-first2=Gary H.|date=2007 |isbn = 978-0-89181-062-9}}</ref>

Major onshore oil fields include Çeleken, Goñurdepe, Nebitdag, Gumdag, Barsagelmez, Guýujyk. Gyzylgum, Ördekli, Gögerendag, Gamyşlyja, Ekerem, Çekişler, Keýmir, Ekizek, and Bugdaýly.<ref name=geotext>{{cite book|url=https://docplayer.biz.tr/181461559-Turkmenistanyn-bilim-ministrligi-tarapyndan-hodurlenildi.html#show_full_text|title=Türkmenistanyň Geografiýasy|language=Turkmen|date=2010|place=Ashgabat|publisher=Bilim Ministrligi|last1=Çaryýew|first1=B.|last2=Ilamanow|first2=Ýa.}}</ref> In 2019, capital investment in the oil industry totalled 3.29&nbsp;billion&nbsp;manats.<ref name=stat2020>{{cite book|title=Türkmenistanyň Ýyllyk Statistik Neşiri 2019 Ýyl|page=91|date=2020|place=Ashgabat|language=Turkmen, Russian, English|publisher=State Committee of Statistics of Turkmenistan}}</ref> In January–November 2020, Turkmenistan extracted 8.7 million tonnes of oil and condensate. Production of liquid petroleum gas totalled 231,000 tonnes.<ref name=jannov2020 /> Oil production in calendar year 2023 was reported in official state media as 8.3167 million tonnes.<ref name=production2023 />

The oil production and consumption data in the table below are taken from BP Statistical Review.<ref name="bp.com"/><ref name=bp2 />
[[File:Oil drilling rig on the Cheleken Peninsula.jpg|thumb|right|250px|Oil drilling rig on the Cheleken Peninsula, Balkan Province, Turkmenistan]]
[[File:Oil-well-donkeys-Balkan-province-Turkmenistan.jpg|thumb|250px|Oil well donkeys in Balkan Province, Turkmenistan]]
{| class="wikitable" style="text-align:center"
|+ '''Turkmenistan Production and Consumption of Oil'''<ref name="bp.com" /><ref name=bp2 /><br>Source: BP Statistical Review
! Year || Production<br>(1000 bbl/day) || Production<br>(million tonnes/year) || Consumption<br>(million tonnes/year)
|-
| 2002 || 183 || 9.0 || 3.9
|-
| 2005 ||193 || 9.5 || 4.3
|-
| 2008 || 208 || 10.3 || 5.1
|-
| 2009 || 211 || 10.4 || 4.6
|-
| 2010 || 217 || 10.7 || 4.5
|-
| 2011 || 217 || 10.7 || 4.7
|-
| 2012 || 222 || 11.0 || 4.8
|-
| 2013 || 231 || 11.4 || 4.8
|-
|	2014	||	263	||	12.9	||	6.5
|-							
|	2015	||	271	||	13.2	||	6.5
|-							
|	2016	||	270	||	13.2	||	6.5
|-							
|	2017	||	271	||	13.1	||	6.5
|-							
|	2018	||	261	||	12.6	||	6.7
|-							
|	2019	||	264	||	12.5	||	7.1
|}

====Petroleum refining====
{{Main article|Oil and natural gas refining in Turkmenistan}}
Oil is processed at two refineries, the [[Türkmenbaşy, Turkmenistan|Türkmenbaşy]] and [[Seýdi|Seydi]] oil refining complexes.   The Turkmenbashy oil refinery had a refining capacity of more than 10 million tons of oil per year as of May 2016. The refinery produces a range of products, including unleaded gasoline, petroleum coke, asphalt, laundry detergent, hydro-treated Diesel, and lubricating oil.<ref name=ita>{{cite web|url=https://www.trade.gov/country-commercial-guides/turkmenistan-oil-and-natural-gas-refining|title= Turkmenistan - Country Commercial Guide / Oil and Natural Gas Refining|date= 30 November 2023|publisher=US Department of Commerce}}</ref>  The Turkmenbashy oil refinery is Turkmenistan's largest producer of liquid petroleum gas, accounting for two-thirds of total production with annual output of about 300 thousand tonnes.<ref name=lpg>{{cite news|url=https://turkmenportal.com/blog/28431/v-turkmenistane-perevypolnen-plan-po-eksportu-spg |title=В Туркменистане перевыполнен план по экспорту СПГ |date=26 June 2020 |language=ru | publisher=Turkmenportal}}</ref>

The Seydi refinery processed about 135,500 tonnes of oil in the first quarter of 2020, and 441,200 tonnes January–November, implying capacity of about half a million tonnes of oil in 2020 despite design capacity of 6 million tonnes. In the first eight months of 2021, the Seydi refinery produced 135,200 tonnes of gasoline, 77,600 tonnes of diesel fuel, 22,800 tonnes of heavy gas oil, and 19,500 tonnes of asphalt.<ref name=seydi>{{cite news|url=https://business.com.tm/post/5398/seydi-oil-refinery-processes-1355-thousand-tons-of-oil|title=Seydi Oil Refinery Processes 135.5 Thousand Tons of Oil|date=20 April 2020|publisher=Business Turkmenistan}}</ref><ref name=seydi3>{{cite news|url=https://business.com.tm/post/6418/seydi-oil-refinery-processes-around-4412-thousand-tons-of-oil|title= Seydi Oil Refinery Processes Around 441.2 Thousand Tons of Oil|date=16 December 2020|publisher=Business Turkmenistan}}</ref><ref name=seydi2>{{cite news|url=https://business.com.tm/ru/post/7620/na-seidinskom-npz-proizvedeno-poryadka-1352-tysyach-tonn-benzina |title=На Сейдинском НПЗ произведено порядка 135,2 тысяч тонн бензина |publisher=Biznes Turkmenistan |date=21 September 2021 |language=ru}}</ref> The Seydi refinery was built during the [[Soviet Union|Soviet]] period to process oil from [[Siberia]]. Since the collapse of the Soviet Union, however, the Seydi refinery has been supplied with hydrocarbons from Turkmenistan, including the Gokdumalak, Yashyldepe, Yoloten, and Kerwen fields.<ref name=neftegaz2>{{cite news|url=https://neftegaz.ru/news/neftechim/260507-v-turkmenistane-postroyat-sovremennye-gazokhimicheskie-kompleksy/ |title=В Туркменистане построят современные газохимические комплексы |date= 3 December 2012 | language=ru |publisher=Neftegaz.ru}}</ref><ref name=kerwen>{{cite news|url=https://neftegaz.ru/news/politics/263887-turkmenistan-v-karakumakh-vvel-v-ekspluatatsiyu-ocherednoe-gazokondensatnoe-mestorozhdenie-kerven-po/ |date=11 March 2012| title= Туркменистан в Каракумах ввел в эксплуатацию очередное газоконденсатное месторождение Кервен. После 2009 г это первый успех туркменских газовиков  | language=ru |publisher=Neftegaz.ru}}</ref>

In October 2020, President [[Gurbanguly Berdimuhamedow]] criticized low output from refineries, stating, "...growth is not observed in oil extraction, half of which is exported. Processing enterprises do not operate at the appropriate level, and for a long time are used at barely 40%."<ref>{{citation |url=https://oilgas.gov.tm/ru/posts/news/855/prezident-poruchil-rukovoditelyam-tek-turkmenistana-prinyat-mery-dlya-ispravleniya-nedostatkov-v-rabote-otrasli |title=Президент поручил руководителям ТЭК Туркменистана принять меры для исправления недостатков в работе отрасли |date=10 October 2020 |language=ru |publisher=Nebit-Gaz}}</ref>

=== Natural gas and oil exports ===
Based on Chinese and Turkmen official trade data, China is the major importer of Turkmenistan's natural gas, with historical volumes between 32 and 35 billion cubic meters per annum (bcma). Originally, thirty-five bcma was Turkmenistan's quota on the [[Central Asia–China gas pipeline]],<ref name=cnpc>{{Cite web|url=http://www.cnpc.com.cn/en/FlowofnaturalgasfromCentralAsia/FlowofnaturalgasfromCentralAsia2.shtml|title=Flow of natural gas from Central Asia|website=www.cnpc.com.cn}}</ref><ref>{{cite web |last1=Hess |first1=Maximilian |title=Central Asian Gas Exports to China: Beijing's Latest Bargaining Chip? |url=https://www.fpri.org/article/2020/06/central-asian-gas-exports-to-china-beijings-latest-bargaining-chip/ |website=Foreign Policy Research Institute |access-date=2 February 2021}}</ref><ref>{{cite web |url=http://www.atimes.com/atimes/Central_Asia/KL24Ag07.html |archive-url=https://web.archive.org/web/20091224215442/http://www.atimes.com/atimes/Central_Asia/KL24Ag07.html |url-status=unfit |archive-date=24 December 2009 |title=China plays Pipelineistan' |publisher=Atimes.com |date=24 December 2009 |access-date=3 May 2010}}</ref> but in August 2023, the Turkmenistan Ministry of Foreign Affairs stated that Turkmenistan's quota on this pipeline system was 40 bcma.<ref name=China40 /> Turkmen media reported that in 2022 China imported 43.2 bcm of natural gas via that pipeline, but did not specify how much of that originated in Turkmenistan.<ref>{{cite news|url=https://business.com.tm/post/9676/central-asiachina-pipeline-transports-432-bcm-of-gas-in-2022 |title=Central Asia-China Pipeline Transports 43.2 bcm of Gas in 2022 |publisher=Business Turkmenistan|date=7 January 2023}}</ref> Subsequently, press reports stated Turkmen natural gas exports to China in 2022 totalled 34.09 bcm.<ref name=resumption>{{citation 
|title=PetroChina looking to resume Central Asia Gas Pipeline Line D construction in 2024
|date=21 December 2023
|url=https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/lng/122123-petrochina-looking-to-resume-central-asia-gas-pipeline-line-d-construction-in-2024-source
|publisher=S&P Global}}</ref>

Smaller volumes of pipeline gas are also bought by Russia's [[Gazprom]], with 4 bcm in 2019, 4.7 bcm in 2020, and approximately 10 bcm in 2021. Some of this gas is sold onward to Uzbekistan.<ref name=barrel>{{cite news|url=http://caspianbarrel.org/ru/2021/06/rossiya-za-i-kvartal-uvelichila-na-69-import-turkmenskogo-gaza/ |title=Россия за I квартал увеличила на 69% импорт туркменского газа |date=22 June 2021 |first=Ilham|last= Shaban |publisher=Caspian Barrel |language=ru}}</ref><ref name=rferl1221>{{cite news|url=https://www.rferl.org/a/russia-doubles-gas-imports-turkmenistan/31625051.html |title=Russia Doubled Imports Of Natural Gas From Turkmenistan In 2021, Envoy Says |date=24 December 2021 |publisher=[[RFE/RL]]}}</ref> In June 2019 Russia and Turkmenistan signed a five-year agreement for annual deliveries of 5.5 bcm.<ref name=fiveyear>{{cite news|url=https://www.aa.com.tr/en/energy/general/russia-signs-5-yr-deal-for-greater-turkmen-gas-imports-/25981 |title=Russia signs 5-yr. deal for greater Turkmen gas imports, Purchase agreement will run until 30 June 2024 |date=4 July 2019 |publisher=[[Anadolu Agency]] |first=Firdevs |last=Yüksel}}</ref>

Sales of pipeline gas to Iran ceased in 2017 due to a dispute over arrears, but resumed in Summer 2023 with test shipments of 10 million cubic meters (mcm) per day.<ref>{{citation |url=https://www.specialeurasia.com/2023/06/04/iran-turkmenistan-natural-gas/ |title= Exploring Iran's Latest Natural Gas Import Deal with Turkmenistan |publisher=SpecialEurasia |date=4 June 2023}}</ref><ref>{{citation |url=https://caspiannews.com/news-detail/turkmenistan-resumes-gas-exports-to-iran-increases-supplies-to-azerbaijan-2023-8-13-0 |title=Turkmenistan Resumes Gas Exports to Iran, Increases Supplies to Azerbaijan |first=Nigar |last= Bayramli |date=13 August 2023 |publisher=Caspian News}}</ref> The deal, signed in June 2023, envisions export of up to 20 mcm per day of natural gas to Iran.<ref>{{citation |url= https://business.com.tm/post/10602/turkmenistan-trials-daily-delivery-of-10-mcm-gas-to-iran |title= Turkmenistan Trials Daily Delivery of 10 mcm Gas to Iran |publisher=Business Turkmenistan |date=8 August 2023}}</ref>

In November 2021, the governments of Turkmenistan, Iran, and Azerbaijan announced agreement on a natural gas swap of up to 2 billion cubic meters per year, with Turkmen gas to flow to Iran, and Iranian gas to flow to Azerbaijan.<ref>{{cite news |url=https://www.rferl.org/a/iran-azerbaijan-turkmenistan-gas-swap/31583984.html |title=Iran, Azerbaijan, Turkmenistan Sign Agreement On Gas Swap, Iranian Media Report |date=28 November 2021 |publisher=[[RFE/RL]]}}</ref><ref>{{cite news|url=https://caspiannews.com/news-detail/azerbaijan-iran-turkmenistan-agree-to-swap-turkmen-gas-2021-11-30-0/ |title=Azerbaijan, Iran, Turkmenistan Agree to Swap Turkmen Gas |first=Orkhan |last=Jalilov |date=1 December 2021 |publisher=Caspian News }}</ref><ref name=swap3>{{cite news|url=https://www.pipeline-journal.net/news/iran-signs-tripartite-gas-swap-deal-neighboring-azerbaijan-and-turkmenistan |first= Daniel |last=Onyango |title= Iran Signs Tripartite Gas Swap Deal With Neighboring Azerbaijan And Turkmenistan |date=2 December 2021 |publisher=Pipeline Technology Journal}}</ref> Iran's oil minister, [[Javad Owji]], declared readiness to increase the swap volume to 15 bcma.<ref name=swap5>{{cite web |url= https://irangov.ir/detail/377602 |title=Minister: Iran ready for 40-million cubic meters daily gas swap with Turkmenistan |date=9 January 2022 |publisher=Government of Iran}}</ref> In August 2023 media reported that the volume of gas swapped had risen from 4.5 million cubic meters per day to 8 mcm per day.<ref name=swapup>{{citation |url=https://www.hronikatm.com/2023/08/ir-gas-exports-resumption/ |title=Туркменистан возобновил поставки газа в Иран | date=9 August 2023 | language=ru |publisher=Chronicles of Turkmenistan}}</ref>

According to [[BP]]'s ''Statistical Review of World Energy 2021'', Turkmenistan's natural gas exports in 2020, by destination, in billion cubic meters were:
{| class="wikitable"

|-
| Kazakhstan || align="right" | 0.1
|-
| Russia || align="right" | 3.8
|-
| Other CIS || align="right" | 0.5
|-
| China  || align="right" | 27.2
|-
| Total<ref name=bp2021>{{cite web|url=https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/pdfs/energy-economics/statistical-review/bp-stats-review-2021-full-report.pdf |page=45|title=Statistical Review of World Energy 2021 |publisher=BP}}</ref> || align="right" |31.6
|}

====Value of exports====
Chinese sources reported that in 2021 Turkmenistan earned $6.79 billion for delivering natural gas to China.<ref>{{cite news|url=https://www.chiangraitimes.com/news-asia/chinas-xi-proposes-cooperation-with-turkmenistan/ |title=China's Xi Proposes Enhanced 'Natural Gas' Cooperation With Turkmenistan |date= 7 January 2023| first= Sufyan|last= Ahmad |publisher=CTN News}}</ref> Chinese Customs statistics show China imported natural gas from Turkmenistan from January through November 2022 valued at $9.28 billion.<ref>{{cite web|url=http://stats.customs.gov.cn/ |title=Customs statistics |access-date=16 January 2023 }} Commodity code 27112100, country codes 106, 130, 131, 145, 148, 149, 344, 502, 601</ref> Azerbaijan imported 857 million cubic meters (mcm) of natural gas from Turkmenistan in calendar year 2022, worth "over $130.63 million".<ref name=nca>{{citation |url=https://business.com.tm/post/9890/turkmenistan-exports-over-857-mcm-of-natural-gas-to-azerbaijan |title=Turkmenistan Exports Over 857 mcm of Natural Gas to Azerbaijan |publisher=Business Turkmenistan |date=24 February 2023}}</ref>

In June 2021 Turkmenistan and China announced award of a tender to CNPC Chuanging Drilling Engineering Company, Ltd. for drilling gas wells in the Galkynysh gas field in return for payment in kind of 17 bcm of natural gas delivered over a period of three years.<ref name=tender2021>{{cite news|url=http://www.turkmenistan.ru/ru/print/articles/45677.html |title=Компания из КНР выиграла тендер на бурение новых скважин на самом крупном газовом месторождении Туркменистана |publisher=Turkmenistan.ru | date= 20 June 2021 | language=ru}}</ref><ref name=tender2021a>{{cite news|url= https://neftegaz.ru/news/drill/693935-kitayskaya-kompaniya-proburit-3-gazovykh-skvazhiny-v-turkmenistane/ |date= 24 August 2021 |title=Китайская компания пробурит 3 газовых скважины в Туркменистане |language=ru |publisher=Neftegaz.RU |first=Ye. |last=Svintsova}}</ref> The first of these wells was commissioned in January 2023.<ref>{{cite news|url=https://business.com.tm/post/9692/turkmenistans-galkynysh-gas-field-commissions-complex-well |title=Turkmenistan's Galkynysh Gas Field Commissions Complex Well |publisher=Business Turkmenistan |date=11 January 2023}}</ref>

{| class="wikitable"
| colspan="11" align="center"|'''Turkmenistan Hydrocarbon Exports'''<ref name=stat2020a>{{cite book|title=Türkmenistanyň Ýyllyk Statistik Neşiri 2019 Ýyl|page=122|date=2020|place=Ashgabat|language=Turkmen, Russian, English|publisher=State Committee of Statistics of Turkmenistan}}</ref>
|-
|
| colspan="2" align="center"|2015
| colspan="2" align="center"|2016
| colspan="2" align="center"|2017
| colspan="2" align="center"|2018
| colspan="2" align="center"|2019
|-
|
|align="center"|quantity
|align="center"|value,<br>million US$
|align="center"|quantity
|align="center"|value,<br>million US$
|align="center"|quantity
|align="center"|value,<br>million US$
|align="center"|quantity
|align="center"|value,<br>million US$
|align="center"|quantity
|align="center"|value,<br>million US$
|-
|natural gas, billion cubic meters
| align="right" |40.3
| align="right" |8406.7
| align="right" |37.9
| align="right" |4327.8
| align="right" |38.2
| align="right" |5031.7
| align="right" |37.8
| align="right" |6428.0
| align="right" |37.6
| align="right" |6942.1
|-
|petroleum products, million tonnes
| align="right" |2.8
| align="right" |1038.3
| align="right" |2.6
| align="right" |796.2
| align="right" |2.6
| align="right" |1000.7
| align="right" |2.9
| align="right" |1430.1
| align="right" |3.1
| align="right" |1297.1
|-
|crude oil, million tonnes
| align="right" |4.1
| align="right" |1466.8
| align="right" |4.9
| align="right" |1210.8
| align="right" |1.9
| align="right" |612.8
| align="right" |6.4
| align="right" |2634.4
| align="right" |3.8
| align="right" |1671.5
|}

===Power generation===
''See also [[Turkmenistan#Energy|Turkmenistan / Energy]]''

In 2019, total electrical energy generation in Turkmenistan reportedly totalled 22,521.6 million kilowatt-hours (22.52 terawatt-hours).<ref name=stat2020p>{{cite book|title=Türkmenistanyň Ýyllyk Statistik Neşiri 2019 Ýyl|page=28|date=2020|place=Ashgabat|language=Turkmen, Russian, English|publisher=State Committee of Statistics of Turkmenistan}}</ref>

{| class="wikitable"
| colspan="6" align="center"|Electrical Power Generation, million kilowatt-hours<ref name=stat2020p />
|-
|
| align="center" |2015
| align="center" |2016
| align="center" |2017
| align="center" |2018
| align="center" |2019
|-
|production
| align="center" |23,284.5
| align="center" |24,525.9
| align="center" |24,903.9
| align="center" |23,817.7
| align="center" |22,521.6
|-
|export
| align="center" |3,215.3
| align="center" |3,751.4
| align="center" |3,457.8
| align="center" |2,719.8
| align="center" |1,803.5
|}

As of 2013, Turkmenistan had 10 electrical power plants equipped with 32 turbines, including 14 steam-driven, 15 gas powered, and 3 hydroelectric.<ref name=plan>{{cite web|url=https://www.cacianalyst.org/publications/field-reports/item/12748-turkmenistan-adopts-electric-power-industry-development-plan.html|title=Turkmenistan Adopts Electric Power Industry Development Plan|date=3 June 2013|first=Tavus|last=Rejepova|publisher=CACI Analyst}}</ref>  Power output in 2011 was 18.27 billion kWh, of which 2.5 billion kWh was exported.<ref name=plan />  The [[Asian Development Bank]] reported in October 2018,<blockquote>Turkmenenergo, the State Energy Corporation is the vertically integrated power utility in
the country. In 2017, it produced more than 23 TWh of electricity, exporting 15% of that to neighboring countries.<ref name=adbproject /></blockquote>

New power plants have been constructed in [[Mary, Turkmenistan|Mary]], [[Ahal Region|Ahal province]], and in [[Çärjew District]] of [[Lebap Region|Lebap province]]. The Mary-3 combined cycle power plant, built by [[Çalık Holding]] with [[GE]] turbines, commissioned in 2018, produces 1.574 gigawatts of electrical power and is specifically intended to support expanded exports of electricity to Afghanistan and Pakistan. The Zerger power plant built by [[Sumitomo]], [[Mitsubishi]], [[Hitachi]], and [[Rönesans Holding]] in [[Çärjew District]] has a design capacity of 432 megawatts from three 144-megawatt gas turbines and was commissioned in September 2021.<ref name=zerger1>{{cite news|url=https://turkmenistan.gov.tm/ru/post/56822/uspeshno-realizovan-proekt-po-stroitelstvu-gazoturbinnoj-elektrostancii |title=Успешно реализован проект по строительству газотурбинной электростанции |date=3 September 2021 |language=ru |publisher=Туркменистан: золотой век}}</ref> It is also primarily intended for export of electricity. The Zerger plant uses natural gas from the Üçajy Gas Field ({{langx|ru|Учаджинского газодобывающего месторождения}}), delivered via a 125-km high-pressure pipeline.<ref name=ucajygas>{{cite news|url=   https://turkmenistan.gov.tm/ru/post/53395/novosti-lebapa-proizvodstvo-shelkovichnyh-kokonov-i-stroitelstvo-magistralnogo-gazoprovoda| title=  Новости Лебапа: производство шелковичных коконов и строительство магистрального газопровода|date=9 April 2021|language=Russian | publisher=«Туркменистан: золотой век»}}</ref> The Ahal power plant, with capacity of 650 megawatts, was constructed to power the city of Ashgabat and in particular the Olympic Village.<ref name=orient1>{{cite news|url=https://orient.tm/en/turkmenistan-has-increased-its-electricity-exports-by-1-5-times/|title=Turkmenistan has increased its electricity exports by 1.5 times|date=1 October 2020|publisher=Orient}}</ref><ref name=ahal1>{{cite web|url=https://tm.usembassy.gov/ambassador-allan-mustard-visits-largest-ge-supplied-gas-turbine-power-plant-turkmenistan/|title=Ambassador Allan Mustard visits the largest GE-supplied gas turbine power plant in Turkmenistan|date=29 May 2015|publisher=US Embassy Ashgabat}}</ref><ref name=trend1>{{cite news|url=https://en.trend.az/casia/turkmenistan/3119523.html|title=Turkmen power stations using GE technology|date=17 September 2019|first=Huseyn|last=Hasanov|publisher=Trend}}</ref> The Derweze State Electrical Power Station ({{langx|tk|Derweze Döwlet Elektrik Stansiýasy}}), a 504.4 megawatt power plant built by [[Çalık Holding|Çalık Enerji]] in 2015, is located near Ovadandepe.<ref name=chalik>{{cite web|url=https://calikenerji.com/Pages/ProjectDetail.aspx?ID=34|title=Derweze Basit Çevrim Elektrik Santrali|publisher=Çalık Enerji|language=Turkish|access-date=11 April 2021|archive-date=7 May 2021|archive-url=https://web.archive.org/web/20210507014845/https://calikenerji.com/Pages/ProjectDetail.aspx?ID=34|url-status=dead}}</ref><ref name=energymin>{{cite web|url=http://www.minenergo.gov.tm/tm/node/14|title="Türkmenenergo" döwlet elektroenergetika korporasiýasy|date=14 February 2016|language=Turkmen|publisher=[[Ministry of Energy (Turkmenistan)]]|access-date=11 April 2021|archive-date=11 April 2021|archive-url=https://web.archive.org/web/20210411201132/http://www.minenergo.gov.tm/tm/node/14|url-status=dead}}</ref> In March 2023, the government announced plans to build a 1,574-megawatt natural gas-fired combined cycle power plant in [[Balkan Province]].<ref>{{cite news|url=https://business.com.tm/post/9953/turkmenistan-to-build-new-1574-megawatts-power-plant-in-balkan |title=Turkmenistan to Build New 1,574 Megawatts Power Plant in Balkan |publisher=Business Turkmenistan |date=11 March 2023}}</ref><ref>{{citation | url= https://tdh.gov.tm/ru/post/38385/zasedanie-kabineta-ministrov-turkmenistan | title=Заседание Кабинета Министров Туркменистана | date=28 October 2023 | language= ru |publisher = Туркменистан сегодня}}</ref> In October 2023 the contract for construction of this plant was awarded to Çalık Energji, with construction projected to be complete by May 2027.<ref>{{citation | url= https://tdh.gov.tm/en/post/38399/turkmenenergo-allowed-enter-contract-company-calik-enerji-sanayi-ve-ticaret-s-construction-power-plant-balkan-velayat | title= «Türkmenenergo» is allowed to enter into a contract with the company «Çalik Enerji Sanayi ve Ticaret A.Ş.» for the construction of a power plant in Balkan velayat | date= 28 October 2023 | publisher = Turkmenistan Today}}</ref> National Leader Gurbanguly Berdimuhamedow announced in November 2023 that the power plant is intended to export electricity to Azerbaijan.<ref>{{citation | url=https://business.com.tm/multimedia/10980/turkmenistan-expects-to-resolve-gas-supply-matters-through-caspian-sea |title= Turkmenistan Expects to Resolve Gas Supply Matters Through Caspian Sea | date=3 November 2023 | publisher=Business Turkmenistan}}</ref>

A "national grid strengthening project" with support from the Asian Development Bank is underway, which will build four new power substations and add direct high-voltage lines, a 500-kilovolt line between [[Balkan Region|Balkan province]] and [[Daşoguz|Dashoguz]], and a 200-kilovolt line between [[Büzmeýin|Buzmeyin]] and [[Balkanabat]].  The intention is to create an "interconnected national transmission grid to improve reliability and energy efficiency..."<ref name=adbproject>{{cite web|url=https://www.adb.org/sites/default/files/project-documents/49370/49370-002-rrp-en.pdf|title=Proposed Loan and Administration of Technical Assistance Grant / Turkmenistan: National Power Grid Strengthening Project |date=October 2018|publisher=[[Asian Development Bank]]}}</ref>

===Minerals===
The following table is from ''Mineral Industry of Turkmenistan'' published by the [[United States Geological Survey]], an agency of the US government, and is thus in the public domain.

{| class="wikitable"
| colspan="7" align="center"|'''TURKMENISTAN: PRODUCTION OF MINERAL COMMODITIES'''<sup>1</sup>
|-
| colspan="7" align="center" |'''(Metric tons,  gross weight, unless otherwise specified)'''
|-
|Commodity<sup>2</sup>
|
|2014
|2015
|2016
|2017
|2018
|-
|METALS
|
|
|
|
|
|
|-
|Iron and steel, products,  rolled ''e''
|
|135,000
|140,000
|140,000
|144,000
|144,000
|-
| colspan="7" |INDUSTRIAL MINERALS
|-
|Bromine ''e''
|
|500
|500
|500
|NA
|NA
|-
|Cement, hydraulic ''e''
|thousand metric tons
|2,900
|3,300
|3,500
|3,600
|3,800
|-
|Clay, bentonite:
|
|
|
|
|
|
|-
|Powder ''e''
|
|400
|400
|400
|420
|450
|-
|Other, unspecified
|
|7,387 ''r''
|8,000 ''e''
|8,000 ''e''
|8,400 ''e''
|9,000 ''e''
|-
|Gypsum, mine ''e''
|
|107,000
|110,000
|110,000
|110,000
|110,000
|-
|Iodine ''e''
|
|500
|500
|500
|510
|400
|-
|Lime ''e''
|
|19,400
|20,000
|21,000
|22,000
|23,000
|-
|Nitrogen, N content:
|
|
|
|
|
|
|-
|Ammonia
|
|293,000
|309,000 ''e''
|309,000 ''e''
|320,000 ''e''
|340,000 ''e''
|-
|Urea
|
|344,000
|360,000 ''e''
|360,000 ''e''
|380,000 ''e''
|400,000 ''e''
|-
|Potash, K<sub>2</sub>O content
|
|<nowiki>--</nowiki>
|<nowiki>--</nowiki>
|<nowiki>--</nowiki>
|25,000 ''e''
|24,000
|-
|Salt ''e''
|
|91,700
|100,000
|100,000
|100,000
|100,000
|-
|Sodium, compounds, sodium sulfate ''e''
|
|68,000
|70,000
|52,000 ''r''
|26,000
|26,000
|-
|Sulfur, S content ''e''
|
|506,000
|600,000
|400,000 ''r''
|200,000
|200,000
|-
| colspan="7" |MINERAL FUELS AND RELATED MATERIALS
|-
|Natural gas
|million cubic meters
|67,000
|69,600
|66,800
|62,000
|62,000 ''e''
|-
|Petroleum:
|
|
|
|
|
|
|-
|Crude, including condensate
|thousand 42-gallon barrels
|87,200
|91,400
|96,960
|90,000
|85,000
|-
|Refinery
|''do.''
|57,100
|55,000
|53,600
|44,000
|44,000 ''e''
|-
| colspan="7" |''e'' Estimated.   ''r'' Revised.  ''do.'' Ditto.  ''NA'' Not available.   -- Zero.
|-
| colspan="7" |<sup>1</sup>Table includes data available through 20 May 2019. All data are reported unless otherwise noted. Estimated data are rounded to no more than three significant digits; may not add to totals shown.
|-
| colspan="7" |<sup>2</sup>In addition to the commodities listed, barite, bench gravel, coal, dolomite, epsomite, and kaolin may have been produced, but available information was inadequate to make reliable estimates of output.
|-
| colspan="7" |Source: US Geological Survey<ref name=min2018>{{cite web|url=https://prd-wret.s3.us-west-2.amazonaws.com/assets/palladium/production/atoms/files/myb3-2017_18-tx.pdf |title=The Mineral Industry of Turkmenistan |first=Karine M. |last=Renaud |date=March 2020|publisher=[[United States Geological Survey]]}}</ref>
|}

In January 2023 the deputy prime minister for industry and construction reported discovery of iron oxide deposits near [https://www.openstreetmap.org/way/623534935 Çagyl], [[Türkmenbaşy District]], [[Balkan Region|Balkan Province]].<ref>{{citation |url=https://tdh.gov.tm/post/34405/zasedanie-kabineta-ministrov-turkmenistana-63 |title=Заседание Кабинета Министров Туркменистана | date= 19 January 2023 | language=ru |publisher=Türkmenistan Bu gün}}</ref>

===Construction materials===
Four cement plants operate in Turkmenistan, and plans have been announced to construct three more.<ref name=cement1>{{cite news|url= https://jcement.ru/content/news/v-turkmenistane-khotyat-postroit-novyy-tsementnyy-zavod-i-modernizirovat-dva-deystvuyushchikh/|title=В Туркменистане хотят построить новый цементный завод и модернизировать два действующих|date=21 February 2020|language=Russian|publisher=«Цемент и его применение»}}</ref><ref name=cement2>{{cite news|url=https://centralasia.news/6890-v-turkmenistane-uvelichat-proizvodstvo-cementa-na-2-mln-tonn-v-god.html|title=В Туркменистане увеличат производство цемента на 2 млн тонн в год|date=22 June 2020|language=Russian|publisher=CentralAsia.news}}</ref><ref name=cement3>{{cite news|url=https://orient.tm/proizvodstvo-cementa-v-turkmenistane-budet-uvelicheno-na-2-mln-tonn-v-god/|title=Производство цемента в Туркменистане будет увеличено на 2 млн тонн в год|date=19 June 2020|language=Russian|publisher=Orient}}</ref><ref name=cement4>{{cite news|url=https://sng.today/ashkhabad/13501-obemy-proizvodstva-cementa-v-turkmenistane-budut-uvelicheny-na-2-mln-tonn-v-god.html|title=Ежегодное производство цемента в Туркменистане вырастет на 2 млн тонн|date=22 June 2020|language=Russian|publisher=Голос СНГ}}</ref> The four cement plants currently in operation, each designed to produce one million tons per year, are:
:* [[Baherden]] Cement Plant ([[Ahal Region|Ahal Province]])
:* Kelete Cement Plant (Ahal Province)
:* [[Lebap Region|Lebap]] Cement Plant (in [[Türkmenabat]])
:* [[Balkan Region|Balkan]] Cement Plant (in [[Jebel, Turkmenistan|Jebel]])<ref name=cement>{{cite news|url=http://www.newscentralasia.net/2019/11/26/2020-could-be-a-pivotal-year-for-turkmenistan-part-2-ru/ |title=2020 год может быть поворотным для Туркменистана – Часть 2 |first=Tariq |last=Saeedi |language=ru |date=26 November 2019 |publisher=News Central Asia}}</ref><ref name=polimeks2>{{cite web|url= http://polimeks.com/ru/buildingdetail/51/5/лебапский-цементный-завод |title=Лебапский цементный завод Туркменабад – 2012 |publisher=Polimeks |language=ru, en, tr |access-date=18 April 2021}}</ref>

In 2019, President Berdimuhamedov noted that the Kelete plant was operating at 8.1%, the Lebap plant at 88%, the Baherden plant at 64%, and the Balkan plant at just over 40% of design capacity.<ref name=cement />

{| class="wikitable"
| colspan="6" align="center" |Cement Production in Turkmenistan<ref name=stat2020b>{{cite book|title=Türkmenistanyň Ýyllyk Statistik Neşiri 2019 Ýyl|page=30|date=2020|place=Ashgabat|language=Turkmen, Russian, English|publisher=State Committee of Statistics of Turkmenistan}}</ref><br>in thousand tonnes
|-
| align="center" |2014
| align="center" |2015
| align="center" |2016
| align="center" |2017
| align="center" |2018
| align="center" |2019
|-
| align="center" |3,401.5
| align="center" |3,549.9
| align="center" |3,550.0
| align="center" |2,881.4
| align="center" |2,651.4
| align="center" |1,993.2
|}

In 2019, Turkmenistan produced 5.1 million standard square meters (4mm thickness) of sheet glass.<ref name=stat2020b /> A $375 million float glass and glass container plant built by Tepe Inşaat of Turkey was opened 14 February 2018, in Ovadandepe north of Ashgabat.<ref name=glass1>{{cite news|url=https://www.glass-international.com/news/375-million-glass-plant-opens-in-turkmenistan|title=$375 million glass plant opens in Turkmenistan|first=Greg|last=Morris|publisher=Glass International|date=16 February 2018}}</ref><ref name=tepe>{{cite web|url=https://tepe.com.tr/en/anasayfa/news-14-5-2018-10-49-24/tepe-insaat-constructs-the-most-modern-glass-complex-of-central-asia-in-turkmen|title=Tepe İnşaat Constructs the Most Modern Glass Complex of Central Asia in Turkmenistan|publisher=Tepe İnşaat|date=14 February 2018}}</ref><ref name=ayna>{{cite web|url=https://turkmenpetroleum.com/en/2018/02/15/turkmenistan-has-put-into-operation-a-glass-factory-which-has-no-analogues-in-the-region/|title=TURKMENISTAN HAS PUT INTO OPERATION A GLASS FACTORY, WHICH HAS NO ANALOGUES IN THE REGION|date=15 February 2018|publisher=Turkmen Petroleum|access-date=15 March 2021|archive-date=11 April 2021|archive-url=https://web.archive.org/web/20210411201114/https://turkmenpetroleum.com/en/2018/02/15/turkmenistan-has-put-into-operation-a-glass-factory-which-has-no-analogues-in-the-region/|url-status=dead}}</ref> It replaced a Soviet-era glass factory located in central Ashgabat.  In 2019, the value of Turkmenistan's glass exports as reported by trading partners was US$9.5 million.<ref name=uncomtrade>{{cite web|url=https://comtrade.un.org/data/|title=UN Comtrade Database}} Database search on HS Code 70 "Glass and glassware", Trading partner "Turkmenistan", Reporters "All"</ref>

A steel [[smelter]], Türkmen Demir Önümleri Döwlet Kärhanasy ({{langx|en|Turkmen Iron Products State Enterprise}}) operating on scrap metal is located at kilometer 22 on the Ashgabat-Dashoguz Automobile Highway near Ovadandepe.  It produces mainly [[rebar]] and [[channel iron]].<ref name=steel>{{cite web|url=https://turkmenportal.com/catalog/372|title=Металлургический завод|publisher=Turkmenportal|date=17 October 2012}}</ref><ref name=steel2>{{cite news|url=https://turkmenportal.com/blog/16846/novyi-metallurgicheskii-zavod-budet-vveden-v-ovadandepe|title=Новый металлургический завод будет введен в Овадандепе|date=20 December 2018|publisher=Turkmenportal}}</ref><ref name=official>{{cite web|url=http://turkmendemironumleri.com.tm/|title=TÜRKMENDEMIRÖNIMLERI DÖWLET KÄRHANASY|access-date=26 March 2021}}</ref>

The Ceramic Products Plant in [[Bäherden]], opened on 2025, produces 3.3 million square meters of ceramic [[tile]]s and 120,000 [[Toilet|sanitary ware]] units annually using local raw materials. Equipped with advanced technology from [[SACMI]], it meets [[Fourth Industrial Revolution|Industry 4.0]] standards, is environmentally friendly, provides 460 jobs. <ref>[https://tdh.gov.tm/ru/post/44110/prezident-turkmenistana-prinyal-uchastie-v-ceremonii-otkrytiya-predpriyatiya-keramicheskih-izdelij-baherden Церемония открытия предприятия керамических изделий «Bäherden»]</ref>

===Chemicals===
As of 2019, Turkmenistan had "nine chemical plants that produce nitrogen and phosphorus fertilizers (700,000 tons per year), sulfuric and nitric acids, iodine, bromine, and mineral salts."<ref name=exportgov>{{cite web|url=https://www.export.gov/apex/article2?id=Turkmenistan-Chemical-Industry|title=Turkmenistan - Chemical Industry|date=21 July 2019|publisher=International Trade Administration (ITA), US Department of Commerce}}</ref>

In 2019, the country was the world's 3rd largest producer of [[iodine]].<ref>{{cite web| url = https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-iodine.pdf| title = USGS Iodine Production Statistics}}</ref>

====Petrochemicals====
Three plants in Turkmenistan produce urea (carbamide), primarily intended for export, one each in [[Tejen]], [[Mary, Turkmenistan|Mary]],and [[Garabogaz]].  The $1.3 billion Garabogaz plant, built by [[Mitsubishi Heavy Industries]] and GAP İnşaat (a subsidiary of [[Çalık Holding]]), was inaugurated on 18 September 2018, with a design capacity of 1.16 million tonnes of urea per year. The US$650 million Mary ammonia and urea plant, commissioned on 17 October 2014, was built by [[Rönesans Holding]], [[Kawasaki Heavy Industries|Kawasaki]], and Sojitz with design capacity of 400 thousand tonnes of ammonia and 640 thousand tonnes of urea.<ref name=gulf>{{cite news|url=https://www.gulfoilandgas.com/webpro1/main/mainnews.asp?id=39415|title=Mary Ammonia and Urea Fertilizer Complex is Completed|date=17 October 2014|publisher=Gulf Oil and Gas}}</ref><ref name=kawa2>{{cite web|url=https://rencons.com/proje/ammonia-and-urea-plant/?lang=en|title=AMMONIA AND UREA PLANT}}</ref> The $240 million Tejen plant, inaugurated on 18 March 2005, has a design capacity of 350,000 tonnes of urea per year.  Reportedly, none of these plants currently produces at full capacity, however.<ref>{{cite news|url=http://www.turkmenistan.ru/ru/node/16751|title=В Туркменистане сдан в эксплуатацию Тедженский карбамидный завод|language=Russian|publisher=Turkmenistan.ru}}</ref><ref>{{cite news|url=https://www.korabel.ru/news/comments/strasti_po_kaspiyskomu_karbamidu.html|title=Страсти по каспийскому карбамиду|date=20 August 2019|language=Russian|publisher=KORABEL.RU}}</ref>  Between January and October 2019, the Garabogaz plant produced approximately 392,000 tonnes of urea, of which 261,000 tonnes was exported.<ref>{{cite news|url=https://turkmenportal.com/blog/23011/zavod-garabogazkarbamid-eksportiroval-s-nachala-goda-bolee-261-tysyach-tonn-udobrenii|title=Завод "Гарабогазкарбамид" экспортировал с начала года более 261 тысяч тонн удобрений|date=13 November 2019|language=Russian|publisher=Turkmenportal}}</ref>  Production of nitrogenous fertilizers in Turkmenistan totalled 550,500 tonnes (active ingredient basis) in 2019.<ref name=stat2020chem>{{cite book|title=Türkmenistanyň Ýyllyk Statistik Neşiri 2019 Ýyl|pages=29|date=2020|place=Ashgabat|language=Turkmen, Russian, English|publisher=State Committee of Statistics of Turkmenistan}}</ref>

The Kiyanly Polymer Factory ({{langx|tk|Gyýanly Polimer Zawody}}), inaugurated 17 October 2018, features design capacity to produce 381 thousand tonnes of polyethylene and 81 thousand tonnes of polypropylene per year.  Built at a cost of US$3.4 billion by [[LG]] International, [[Hyundai Group|Hyundai]] Engineering, [[Toyo Engineering Corporation|Toyo]] Engineering, and Gap Inşaat, the plant [[Cracking (chemistry)|cracks]] methane and ethane for production of polymers.<ref>{{cite news|url=http://www.newscentralasia.net/2018/10/18/polymer-plant-adds-new-layers-of-possibilities-to-industrial-economic-mix-of-turkmenistan-ru/|title=Полимерный завод в Киянлы добавляет новые возможности в индустриально-экономический микс Туркменистана |trans-title= Polymer factory in Kiyanly adds new opportunities to the industrial-economic mix of Turkmenistan |date=18 October 2018|language=Russian|publisher=News Central Asia}}</ref>  In the first ten months of 2019, however, the factory produced only 67,900 tonnes of polyethylene and 12,700 tonnes of polypropylene.<ref>{{cite news|url=https://neftegaz.ru/news/neftechim/506245-s-nachala-2019-g-na-gkhk-v-pos-kiyanly-proizvedeno-67-9-tys-t-polietilena-/|title=С начала 2019 г. на ГХК в пос. Киянлы произведено 67,9 тыс. т полиэтилена |trans-title=Since beginning of 2019 the petrochemical complex at Kiyanly produced 67.9 thousand tonnes of polyethylene |date=14 November 2019|language=Russian|publisher=Neftegaz.ru}}</ref> As of January 2023, the polymer plant had reportedly ceased operation, and it had not resumed as of a year later.<ref>{{cite news |url=https://turkmen.news/prezident-obyavil-vygovory-rukovoditelyam-neftegazovogo-sektora/ |title= Президент объявил выговоры руководителям нефтегазового сектора |trans-title=President announced reprimands for leaders of the oil and gas sector|date=14 January 2023 |language=ru |publisher=Turkmen.News}}</ref><ref>{{citation | url=https://turkmen.news/polimernyj-zavod-v-kiyanly-ostanovil-rabotu-sotrudnikov-otpravili-v-otpusk-bez-soderzhaniya/ |title=Полимерный завод в Киянлы остановил работу, сотрудников отправили в отпуск без содержания |trans-title=Polymer factory in Kiyanly stopped work, employees furloughed without pay |date=16 January 2024 |language=ru |publisher=Turkmen.News}}</ref> Opposition media reported in May 2024 that the plant remained closed, and that Hyundai Engineering was auditing the plant to determine what was needed to refurbish and restart it, with an expected cost of repairs of one billion U.S. dollars.<ref>{{citation |url=https://turkmen.news/zavod-v-kiyanly-prostaivaet-dva-goda-gotovyatsya-audit-i-rekonstrukciya-predpriyatiya/ |title= Завод в Киянлы простаивает два года. Готовятся аудит и реконструкция предприятия |date= 9 May 2024 |language=ru |publisher=Turkmen.News}}</ref>

====Non-hydrocarbon chemicals====
In March 2017 the [[:ru:Гарлыкский горно-обогатительный комбинат|Garlyk Mining and Enrichment Combinate]] for production of [[potash]] fertilizer was inaugurated.  Built by [[Belarus]]'s Belgorkhimprom at a cost of US$1.1 billion, the factory is designed to produce 1.4 million tonnes of fertilizer per year, primarily for export to China and India.  It reportedly operates at from 2 to 7 percent of rated capacity, however.<ref name=exportgov /><ref>{{Cite web|url=https://news.tut.by/economics/631429.html|title=От нулевой эффективности до опасных ЧП. На примере Гарлыка объясняем, что бывает с месторождением-"маугли"|date=27 March 2019|publisher=TUT.BY|language=ru|accessdate=2019-08-23|archive-date=2019-08-22|archive-url=https://web.archive.org/web/20190822095454/https://news.tut.by/economics/631429.html|url-status=dead}}</ref><ref>{{cite news|url=https://www.reuters.com/article/orubs-turkmenistan-potash-idRUKBN17215K-ORUBS|publisher=Reuters|title=Туркмения запустила калийный завод за $1,1 млрд, хочет бороться за рынки Китая и Индии|first=Marat|last=Gurt|language=Russian|date=31 March 2017}}</ref><ref>{{cite news|url=https://news.tut.by/economics/652467.html|title=На калийном комбинате в Туркменистане почти нет производства. Может ли Беларусь вернуться в проект?|date=6 September 2019|publisher=TUT.BY|language=ru}}</ref><ref name=potash1>{{cite news|url=https://eurasianet.org/turkmenistan-threatens-belarusian-company-with-international-arbitration|title=Turkmenistan threatens Belarusian company with international arbitration|date=6 November 2018|publisher=Eurasianet}}</ref><ref name=potash2>{{cite news|url=https://en.turkmen.news/news/turkmenistan-impounds-belarusian-equipment-in-potash-plant-dispute/|title=Turkmenistan 'Impounds' Belarusian Equipment in Potash Plant Dispute|date=27 February 2019|publisher=Chronicles of Turkmenistan}}</ref><ref name=unhappy>{{cite news|url=https://www.hronikatm.com/2020/03/garlyk-gok/ |title=Недовольный работой Гарлыкского ГОК Бердымухамедов объявил последний выговор главе "Туркменхимии"|date=13 March 2020 |language=Russian |publisher=Chronicles of Turkmenistan}}</ref>

Three factories produce [[iodine]] in Turkmenistan, one each in [[Balkanabat]], [[Cheleken|Hazar]], and [[Bereket]].  The Bereket plant is designed to produce 150 tonnes per year of iodine.  Following planned renovations and upgrades, the Balkanabat and Hazar plants will have design capacities of 250 tonnes and 300 tonnes of iodine, respectively, plus 2400 tonnes and 4500 tonnes of [[bromine]], respectively, per year.<ref>{{cite news|url=https://sng.today/ashkhabad/10467-na-zapade-turkmenistana-otkryli-novyj-zavod-po-proizvodstvu-joda.html|title=На западе Туркменистана открыли новый завод по производству йода|date=1 July 2019|language=Russian|publisher=SNG Today}}</ref>  Total production of iodine in 2019 was 681.4 tonnes.<ref name=stat2020chem />

===Textiles and Garments===
As a cotton producer, from its conquest by the Russian Empire in the 1880s until independence in 1991 Turkmenistan mainly exported raw cotton to Russia for spinning. Since independence, Turkmenistan has invested roughly $2 billion in 70 plants and factories for production of cotton yarn, textiles, and garments made from other materials, including shoes.<ref name=textile>{{cite news|url=https://business.com.tm/post/6400/turkmen-textile-industry-high-dynamics-of-growth|title=Turkmen Textile Industry: High Dynamics of Growth|date=12 December 2020|publisher=Business Turkmenistan}}</ref> Of these, 13 are large ginning, spinning, or textile mills.<ref name=textile />  In 2019, Turkmenistan exported cotton textiles worth $123.6 million.<ref name=stat2020tex>{{cite book|title=Türkmenistanyň Ýyllyk Statistik Neşiri 2019 Ýyl|pages=123|date=2020|place=Ashgabat|language=Turkmen, Russian, English|publisher=State Committee of Statistics of Turkmenistan}}</ref> In 2019, Turkmenistan produced 118,600 tonnes of cotton yarn, and 209.4 million square meters of fabric, of which 192.9 million was cotton, 14.9 million was terrycloth, and 1.4 million was silk. In addition, Turkmenistan produced in 2019 40.9 million pairs of stockings, 5.5 million knit items, 1.5 million pairs of shoes, and 3,400 tonnes of knitted fabric.<ref name=stat2020z>{{cite book|title=Türkmenistanyň Ýyllyk Statistik Neşiri 2019 Ýyl|page=32|date=2020|place=Ashgabat|language=Turkmen, Russian, English|publisher=State Committee of Statistics of Turkmenistan}}</ref>

===Construction===
The Turkmenistan government centrally funds and controls major construction projects.  As of January 2021, the government acknowledged over 2,500 large-scale projects under construction at a cost of $37 billion.  In 2020, about two million square meters of new residential housing was built at government expense, as well as 45 "important government" structures.<ref name=arzuw>{{cite news|url=https://arzuw.news/v-turkmenistane-stroitsja-bolee-2-5-tys-masshtabnyh-obektov-na-sumu-3-7-mlrd|title=В Туркменистане строится более 2,5 тыс. масштабных объектов на сумму $37 млрд.|date=3 January 2021|language=Russian|publisher=Arzuw}}</ref> In 2021 construction was completed of five major facilities in Ashgabat (a new State Tribune, the Arkadag Hotel, two bank headquarters, and a new Congress Center, all by [[Bouygues]]). Total cost of these five projects was $1.5 billion.<ref name=buig>{{cite news|url=https://turkmenportal.com/blog/13514/francuzskaya-kompaniya-buig-postroit-pyat-krupnyh-obektov-v-turkmenistane|title=Французская компания "Буиг" построит пять крупных объектов в Туркменистане|date=15 February 2018|language=Russian|publisher=Turkmenportal}}</ref><ref name=cost>{{cite news|url=https://turkmen.news/news/crazy-construction-turkmenistan/|title="Социально значимые" отели и трибуны: в Туркменистане продолжают тратить миллиарды на помпезные стройки|date=5 January 2021|language=Russian|publisher=Turkmen.news}}</ref>

A current major project is the $4.8 billion being spent on construction of the city of [[Arkadag]], the new capital of [[Ahal Region|Ahal province]].<ref name=NT>{{cite news|title=В Масштабной Программе Развития Регионов--Приоритеты Социальной Политики|publisher=Нейтральный Туркменистан|date=1 November 2018|language=Russian}}</ref><ref name=ZV>{{cite web|url=http://www.turkmenistan.gov.tm/?id=17441|title=Глава государства рассмотрел проект нового административного центра Ахалского велаята|date=31 October 2018|language=Russian|publisher=Государственное информационное агентство Туркменистана}}</ref><ref name=hronika>{{cite news|url=https://tm.hronikatm.com/2018/11/ahal-welayatynda-sebitin-asgabatdan-pes-oturmayan-taze-paytagty-gurlar/|title=Ahal welaýatynda sebitiň Aşgabatdan pes oturmaýan täze paýtagty gurlar|date=1 November 2018|publisher=Chronicles of Turkmenistan|language=Turkmen}}</ref><ref name=costarkadag>{{citation |url=https://www.france24.com/en/live-news/20230329-new-city-honouring-turkmenistan-s-leader-to-cost-5-billion |title=New city honouring Turkmenistan's leader to cost $5 billion |publisher=[[Agence France-Presse]] |date=29 March 2023}}</ref><ref name=phase2cost>{{citation |url=https://www.hronikatm.com/2023/02/another-1-3-bln-marble/ |title=Импортные стройматериалы для застройки второй очереди Аркадага обойдутся Туркменистану в $1,3 млрд |trans-title=Imported construction materials for building the second phase of Arkadag will run Turkmenistan $1.3 billion|date=20 February 2023 |language=ru |publisher=Chronicles of Turkmenistan}}</ref> In addition, $2.3 billion has been allocated for construction of the Ashgabat-Turkmenabat motorway by a consortium of four Turkmen construction firms.<ref name=cjsc>{{cite web|url=https://turkmenawtoban.com/en/news/trkmen-awtoban-cjsc-to-design-and-construct-ashgabat---turkmenabat-highway/|title=Türkmen Awtoban CJSC to Design and Construct Ashgabat–Turkmenabat Highway|date=11 January 2019}}</ref><ref name=cost2>{{cite news|url=https://orient.tm/en/turkmen-business-starts-construction-of-ashgabat-turkmenabat-autobahn-with-the-cost-of-2-3-billion/|title=Turkmen business starts construction of Ashgabat-Turkmenabat Autobahn with the cost of $2.3 billion|date=25 January 2019|publisher=Orient}}</ref>

==Services==

===Transport===
{{Main|Transport in Turkmenistan}}
As a crossroads for centuries and part of the [[Silk Road]], Turkmenistan serves as a transit point for cargoes shipped by air, sea, and land. Under normal conditions, [[Ashgabat International Airport]] is a stopover and transfer point for air passengers between [[India]] ([[Amritsar]] and [[New Delhi]]) and [[England]] ([[London]] and [[Birmingham]]), as well as between [[Frankfurt-am-Main]] and [[Bangkok]].<ref name=tkmair>{{cite web|url= https://www.flyturkmenistanairlines.eu/|title=Welcome to FlyTurkmenistanAirlines.EU}}</ref>

====Seaports====
{{Main|Ports and harbours in Turkmenistan}}
Turkmenistan's major seaport is the [[Turkmenbashi International Seaport|Turkmenbashy International Seaport]] on the Caspian.  Expanded at a cost of $2 billion between 2013 and 2018 by Gap Inşaat, the seaport has capacity to handle annually 25 million tonnes of dry cargo (17 million in the newly expanded port, 8 million in the old port), 300,000 passengers, 75,000 freight trucks, and 400,000 containers. The port features regular ferry service to [[Baku]].<ref>{{cite web|url=http://mmf.gov.tm/company/partners/porty/|title=Türkmenbaşy halkara deňiz porty – Туркменбашинский Международный Морской порт}}</ref>  This seaport also manages three oil loading terminals, [[Türkmenbaşy, Turkmenistan#Administrative divisions|Kenar]], [[Alaja, Turkmenistan|Alaja]], and [[Ekerem]].<ref>{{cite web|url=https://port.com.tm/en/oil-loading-terminals/|title=Oil loading terminals}}</ref> Turkmenistan's only other seaports are the loading terminals for factories at Kiyanly (Gyýanly) and [[Garabogaz]] and an oil loading terminal at [[Hazar, Turkmenistan|Hazar]].

====Airports====
{{Main|List of airports in Turkmenistan}}
Five major airports in Turkmenistan feature regular domestic passenger service: Ashgabat, Dashoguz, Mary, Turkmenabat, and Turkmenbashy.  A sixth international-class [[Kerki Airport|airport at Kerki]] was commissioned in June 2021 and was slated to begin regular domestic passenger service in January 2022.<ref name=kerki>{{cite news|url=https://turkmenistan.gov.tm/ru/post/59800/iz-kerki-v-ashhabad-i-dashoguz |title=Из Керки – в Ашхабад и Дашогуз |date=25 December 2021 |language=ru |publisher=Turkmenistan Golden Age}}</ref> A seventh airport, Balkanabat, is in operation for special flights.  Under normal conditions, only [[Ashgabat International Airport]] offers regular international passenger service. [[Turkmenbashi International Airport|Turkmenbashy International Airport]] is used for international cargo, chiefly by [[Cargolux]].  The lone domestic air carrier is state-owned Türkmen Howa Ýollary ([[Turkmenistan Airlines]]).  In 2019, Turkmenistan Airlines hauled 12 thousand tonnes of cargo.<ref name=stat2020d /><ref>{{cite web|url=https://avia.tutu.ru/airports/turkmenistan/|title=Аэропорты Туркменистана|language=Russian}}</ref><ref>{{cite web|url=https://airports-online.ru/turkmenistan/balkanabat.html|title=Аэропорт "Балканабад" (г. Балканабад)|date=20 November 2019 |language=Russian}}</ref> It also flew 2.5 million passengers and 2.98 billion passenger-kilometers.<ref name=stat2020e />

Minor airports are found in some smaller cities and towns, including [[Balkanabat]], [[Etrek, Turkmenistan|Etrek]], [[Garabogaz]], [[Hazar, Turkmenistan|Hazar]], and [[Jebel, Turkmenistan|Jebel]] in [[Balkan Province]]. A former military airfield at [[Galaýmor]] in [[Mary Province]] is slated for conversion to civil aviation.<ref name=airport>{{cite news|url=https://www.hronikatm.com/2019/01/prezidentu-dolozhili-o-hode-stroitelstva-aeroporta-v-maryjskom-velayate/|title=Президенту доложили о ходе строительства аэропорта в Марыйском велаяте|date=20 January 2019|language=Russian}}</ref>  There are also small landing strips at [[Darvaza|Aeroport village]] and [[Gäwers]] in [[Ahal Province]].

====Rail====
{{Main|Rail transport in Turkmenistan}}
The domestic rail system is operated by state-owned [[Türkmendemirýollary]] (Turkmen Railways).  No scheduled international passenger service exists, but domestic passenger service connects major Turkmen cities.  Freight service is available to both domestic and international destinations.  In 2019, 23.8 million tonnes of freight was transported by rail in Turkmenistan.<ref name=stat2020d>{{cite book|title=Türkmenistanyň Ýyllyk Statistik Neşiri 2019 Ýyl|page=98|date=2020|place=Ashgabat|language=Turkmen, Russian, English|publisher=State Committee of Statistics of Turkmenistan}}</ref> In the same year, [[Türkmendemirýollary|Turkmen Railways]] handled 5.44 million passengers and counted 2.53 billion passenger-kilometers.<ref name=stat2020e />

====Roads====
{{See also|Category:Roads in Turkmenistan}}
As of 2011, Turkmenistan featured 13.7 thousand kilometers of roads, of which 12.3 thousand were paved.<ref name=bluebook>{{cite book|url=https://www.iru.org/sites/default/files/2016-01/ru-turkmen.pdf|title=АВТОМОБИЛЬНЫЙ ТРАНСПОРТ ТУРКМЕНИСТАНА, 2012|date=2012|publisher=International Road Transport Union|place=Ashgabat|language=Russian}}</ref>  In 2019, road transport accounted for 27.1 billion passenger-kilometers, or 83% of passenger traffic in Turkmenistan.<ref name=stat2020e>{{cite book|title=Türkmenistanyň Ýyllyk Statistik Neşiri 2019 Ýyl|page=99|date=2020|place=Ashgabat|language=Turkmen, Russian, English|publisher=State Committee of Statistics of Turkmenistan}}</ref>  Motor vehicles transported 
448.9 million tonnes of cargo in 2019, 85.5% of the total, and accounted for 14.2 billion tonne-kilometers.<ref name="stat2020d" />  Major highways in Turkmenistan include the [[M37 highway (Turkmenistan)|M37]] connecting the [[Turkmenbashi International Seaport|seaport]] at [[Türkmenbaşy, Turkmenistan|Türkmenbaşy]] to the border with [[Uzbekistan]] at [[Farap]], the Ashgabat-Dashoguz Highway connecting Ashgabat and [[Daşoguz|Dashoguz]], and the P-7 highway connecting the M37 at [[Tejen]] to the border with [[Iran]] at [[Sarahs]].

===Banking===
The financial system is under full state control.<ref name=":1" /> The banking system, which was reduced substantially after the 1998 financial crisis, includes 9 national banks.  These include a nominally private bank owned by the Union of Industrialists and Entrepreneurs, Rysgal Bank, and Turkmen-Turkish Bank, a joint venture between Dayhan Bank and Turkish state-owned Ziraat Bankası.<ref name=cbt>{{cite web|url=https://www.cbt.tm/ru/banklar.html|title=Банки Туркменистана|language=Russian|publisher=Central Bank of Turkmenistan}}</ref> These institutions have the same basic division of responsibility as in the Soviet era, overseen by the [[Central Bank of Turkmenistan]].<ref name=":1" /> Lending operations and household savings have not been important functions of this system.<ref name=":1" /> In 2005 an estimated 95 percent of loans went to state enterprises.<ref name=":1" />  Two branches of foreign banks, [[National Bank of Pakistan]] and [[Bank Saderat Iran|Iran Saderat Bank]], are located in [[Ashgabat]], where they offer retail banking services.  Two German banks, [[Deutsche Bank]] and [[Commerzbank]], offer institutional services through offices in Ashgabat.

As of 1 January 2021, total assets of all banks in Turkmenistan amounted to 135.8 billion manats.<ref name=cbt1>{{cite news|url=https://www.cbt.tm/tm/journal/journal.html|title=Bank habarlary|volume=2021|number=1|page=35|date=January 2021|language=Russian, Turkmen|publisher=Central Bank of Turkmenistan}}</ref>  Deposits by individuals totalled 3.3 billion manats, including 2.8 billion in [[demand deposit]]s and 437 million manats in [[time deposit]]s.<ref name=cbt2>{{cite news|url=https://www.cbt.tm/tm/journal/journal.html|title=Bank habarlary|volume=2021|number=1|page=38|date=January 2021|language=Russian, Turkmen|publisher=Central Bank of Turkmenistan}}</ref> Business deposits totalled 39.1 billion manats, of which 14.6 billion in demand deposits and 53.7 billion in time deposits.  Total business deposits were broken out into state-owned firms (32.5 billion manats), privately owned firms (21.1 billion manats), and individual unincorporated entrepreneurs (7.9 billion manats).<ref name=cbt3>{{cite news|url=https://www.cbt.tm/tm/journal/journal.html|title=Bank habarlary|volume=2021|number=1|page=37|date=January 2021|language=Russian, Turkmen|publisher=Central Bank of Turkmenistan}}</ref>

In 2019, 84.1 billion manats worth of credit was extended to individuals, firms, and organizations, up from 76.3 billion in 2018 and 69.2 billion in 2017.  Of these figures, 60.9 billion, 52.1 billion, and 46.7 billion were in Turkmen manats, respectively.<ref name=stat2020h>{{cite book|title=Türkmenistanyň Ýyllyk Statistik Neşiri 2019 Ýyl|page=138|date=2020|place=Ashgabat|language=Turkmen, Russian, English|publisher=State Committee of Statistics of Turkmenistan}}</ref>

====Credit and debit cards====
Several types of national plastic cards are used in Turkmenistan: Milli Kart, Altyn Asyr, Turkmen Kart.<ref>{{cite web | url=https://centralasia.news/23884-turkmenistan-prodolzhit-razvivat-sferu-beznalichnyh-raschetov-i-internet-bankinga.html | title=Туркменистан нарастил объёмы безналичных расчётов и интернет-банкинга » Новости Центральной Азии }}</ref>  The number of bank cards issued in Turkmenistan for 2023 amounted to over 5 million 177 thousand units, according to the Central Bank of Turkmenistan.<ref>[https://turkmenportal.com/blog/56538/banki-turkmenistana-vypustili-bolee-5-millionov-plastikovyh-kart-na-yanvar-2023-goda]</ref> [[Debit card cashback|Cashback]] services are provided by Halkbank, Daykhanbank, Rysgal Bank, Senagat Bank, Turkmenbashi Bank, Turkmenistan Bank, Turkmen-Turkish Joint-Stock Commercial Bank. Cashback amounts range from 2% to 3%.<ref>{{cite web | url=https://sng.today/ashkhabad/31851-v-turkmenistane-vyrosli-obemy-beznalichnyh-raschetov-i-internet-bankinga.html | title=В Туркменистане выросли объёмы безналичных расчётов и интернет-банкинга » "СНГ СЕГОДНЯ" - последние новости стран СНГ читайте на SNG.TODAY }}</ref><ref>{{cite web | url=https://centralasia.news/23884-turkmenistan-prodolzhit-razvivat-sferu-beznalichnyh-raschetov-i-internet-bankinga.html | title=Туркменистан нарастил объёмы безналичных расчётов и интернет-банкинга » Новости Центральной Азии }}</ref> In Turkmenistan, the card can be used to pay not only for purchases in a store, but also for the services of healthcare institutions, utility bills and services of all types of communications and the Internet, railway, bus and air tickets. In 2019, [[contactless payment]] technology was introduced in the country for the first time.<ref>[https://turkmenportal.com/blog/21886/beskontaktnuyu-sistemu-mastercard-zapuskaet-turkmenistan]</ref>

The number of [[Automated teller machine|ATM]]s in 2023 in the country was 2,144 devices with 42,131 bank payment terminals. The number of users of the Internet Bank service reached 932,730 people with the Mobile Bank service reaching 60,654. 

Turkmen banks have the ability to issue new [[Visa Inc.|Visa]], [[MasterCard]] and [[Maestro]] cards. Using MasterCard and VISA plastic cards supported by international payment systems, citizens of Turkmenistan can make non-cash payments and withdraw funds from ATMs in foreign countries.<ref>[https://tfeb.gov.tm/page/46]</ref>

== Insurance ==
Turkmengosstrakh is the state insurance firm.<ref name=":1" />

=== Tourism ===
{{Main|Tourism in Turkmenistan}}

==Agriculture==
{{Main|Agriculture in Turkmenistan}}
In 2019, Turkmenistan produced:<ref name=":2">{{cite web| url = http://www.fao.org/faostat/en/#data/QC/| title = Turkmenistan production in 2019, by FAO}}</ref>

* 1.5 million tons of [[wheat]];
* 582 thousand tons of [[cotton]];
* 356 thousand tons of [[tomato]];
* 315 thousand tons of [[potato]];
* 263 thousand tons of [[watermelon]];
* 246 thousand tons of [[grape]];
* 245 thousand tons of [[sugar beet]], which is used to produce [[sugar]] and [[ethanol]];
* 130 thousand tons of [[rice]];
* 74 thousand tons of [[onion]];
* 71 thousand tons of [[carrot]];
* 66 thousand tons of [[apple]];
* 34 thousand tons of [[apricot]];

in addition to other agricultural products.<ref name=":2" />

In the early 2000s, the contribution of Turkmenistan's state-run agriculture sector to gross domestic product increased under close state supervision.<ref name=":1" /> The top crop in terms of area planted is wheat (761 thousand hectares in 2019), followed by cotton (551 thousand hectares in 2019).<ref name=stat2020ag>{{cite book|title=Türkmenistanyň Ýyllyk Statistik Neşiri 2019 Ýyl|date=2020|place=Ashgabat|language=Turkmen, Russian, English|publisher=State Committee of Statistics of Turkmenistan}}</ref> In recent years state policy makers have increased the range of crops with the aim of making Turkmenistan self-sufficient in food.<ref name=":1" /> In the post-Soviet era, the area planted to grains (mainly wheat) has nearly tripled.<ref name=":1" /> However, most agricultural land is of poor quality and requires irrigation.<ref name=":1" /> Turkmenistan's irrigation infrastructure and water-use policies have not responded efficiently to this need.<ref name=":1" /> Irrigation in areas distant from natural rivers depends mainly on the decrepit [[Karakum Canal]], which carries water across Turkmenistan from the Amu Darya to near Bereket.<ref name=":1" /> The Dostluk Dam, opened at [[Sarahs]] on the border with [[Iran]] in 2005, has increased available irrigation water and improved efficiency.<ref name=":1" /> Plans call for a similar dam on the [[Atrek River]].<ref name=":1" />

During the 2020 season, Turkmenistan reportedly produced roughly 1.5 million tons of raw cotton. Prior to imposition of a ban on export of raw cotton in October 2018, Turkmenistan exported raw cotton to [[Russia]], [[Iran]], [[South Korea]], [[United Kingdom]], China, [[Indonesia]], [[Turkey]], [[Ukraine]], [[Singapore]] and the [[Baltic states]].  Beginning in 2019, the Turkmenistan government shifted focus to export of cotton yarn and finished textiles and garments.<ref name=exportban>{{cite news|url=https://www.azernews.az/region/149930.html#:~:text=Moreover%2C%20in%20October%202018%2C%20President,country's%20rapidly%20developing%20textile%20industry.|title=Turkmen president instructs to accelerate sowing of raw cotton|publisher=Azernews|date=1 May 2019}}</ref><ref name=orient>{{cite news|url=https://orient.tm/en/turkmenistan-will-decrease-the-export-of-raw-cotton-and-increase-the-production-of-finished-products-from-it/|title=Turkmenistan will decrease the export of raw cotton and increase the production of finished products from it|date=11 February 2019|publisher=Orient|first=Sapar|last=Muradov}}</ref>

Private farmers grow most of Turkmenistan's fruits and vegetables (chiefly tomatoes, watermelons, grapes, and onions), but all production phases of the main cash crops—grain and cotton—remain under state control.<ref name=":1" /> In 2006 grain crop failures led to steadily increasing bread lines and reinstatement of a rationing system in most regions.<ref name=":1" /> At the root of those failures was a culture of falsifying output figures together with poor administration of the sector.<ref name=":1" />

Since 2018, independent media have reported food shortages in the country, with hundreds of people queuing for hours to buy bread and flour.<ref>{{cite news|url=https://www.rferl.org/a/the-sights-and-sounds-of-discontent-in-turkmenistan/29555377.html|title=The Sights And Sounds Of Discontent In Turkmenistan|first=Bruce|last=Pannier|date=21 October 2018|publisher=RFE/RL}}</ref><ref>{{cite news|url=https://www.hronikatm.com/2020/05/bread-lines/|title=Очереди за хлебом в Ашхабаде (видео)|date=8 May 2020|language=Russian|publisher=Chronicles of Turkmenistan}}</ref> Despite official government figures indicating good harvests, independent media report low output due to drought and mismanagement, and that shortages of flour and bread have reappeared.<ref name=hron2>{{cite news|url=https://www.hronikatm.com/2021/06/flour-deficit-in-tejen/ |title=В Теджене возник дефицит муки, из-за высоких цен на которую частники перестали выпекать хлеб |date=17 June 2021 |language=ru |publisher=Chronicles of Turkmenistan}}</ref><ref name=hron3>{{cite news|url=https://www.hronikatm.com/2021/06/wheat-discussions/ |title=Бердымухамедов благословил начало косовицы и отчитал чиновников, которые не помогают земледельцам |date=3 June 2021 |language=ru |publisher=Chronicles of Turkmenistan}}</ref><ref name=hron4>{{cite news|url=https://www.hronikatm.com/2021/06/yoloten-bread-deficit/ |title=Жители Йолотена ночами стоят в очереди за хлебом и снимают наличные в банкоматах по звонку из банка |date=2 June 2021 |language=ru |publisher=Chronicles of Turkmenistan}}</ref><ref name=hron5>{{cite news|url=https://www.hronikatm.com/2021/06/land-dereclamation/ |title=В Лебапе ожидают плохой урожай пшеницы. В сельхозобъединениях закапывают коллекторы для расширения полей |date=8 June 2021 |language=ru |publisher=Chronicles of Turkmenistan}}</ref><ref name=hron6>{{cite news|url= https://www.hronikatm.com/2021/04/no-bread/ |title=Из госмагазинов Марыйского и Лебапского велаятов исчез хлеб |date=1 April 2021|language=ru |publisher=Chronicles of Turkmenistan}}</ref><ref name=breadline1>{{cite news|url=https://turkmen.news/bread-shortage/ |title=В Туркменабаде обострился дефицит хлеба| date=15 October 2021 |language=ru |publisher=Turkmen.News}}</ref><ref name=breadline2>{{cite news|url=https://turkmen.news/bread-stamps/ |title=В Дашогузе ввели хлебные карточки |date=18 October 2021 |language=ru |publisher=Turkmen.News}}</ref>

===Mechanization of agriculture===
Since independence, the Turkmenistan government has spent considerable sums on imported agricultural tractors, harvesters, and implements.  In 2012, around 7,000 tractors, 5,000 cotton cultivators, 2,200 seeders, and other machines, mainly procured from [[Belarus]] and the [[United States]], were used.<ref>{{cite news|title=Turkmenistan to Privilege US Farm Machinery Manufacturers|url=http://www.satrapia.com/news/article/turkmenistan-to-privilege-us-farm-machinery-manufacturers/|access-date=4 August 2012|newspaper=The Gazette of Central Asia|date=26 July 2012|publisher=Satrapia}}</ref>

[[John Deere]] and [[Case IH]] each began selling farm machinery in Turkmenistan in 1994.<ref name=Deere>{{cite web|url=https://ciseg.eu/john-deere-in-turkmenistan/|title=26 SEP JOHN DEERE IN TURKMENISTAN|language=Russian|publisher=CISEG|date=26 September 2017}}</ref><ref name=case>{{cite web|url=https://www.caseih.com/apac/en-int/News/Pages/Cooperation-with-Turkmenistan-to-promote-agricultural-growth-and-productivity.aspx|title=Cooperation with Turkmenistan to promote agricultural growth and productivity|date=28 September 2018|publisher=Case IH}}</ref> [[Claas]] combines were first used for grain harvesting in Turkmenistan in 2011.<ref name=tractor2>{{cite web|url=https://ashgabat.in/2020/10/13/osobennosti-ispolzovaniya-zernouborochnyh-kombajnov-kompanii-%E2%80%B3claas%E2%80%B3-v-turkmenistane/|title=Особенности использования зерноуборочных комбайнов компании "Claas" в Туркменистане|date=13 October 2020|language=Russian|publisher=Ashgabat Innovative}}</ref> Belarus tractors, in use since Soviet times, continue to be popular due to competitive pricing and deep familiarity with the product line.  Turkmenistan also buys cotton harvesters from Uzbekistan.<ref name=uzbek>{{cite news|url=https://turkmenistannewsgazette.com/following-the-us-and-uzbek-turkmenistan-intends-to-purchase-japanese-agricultural-equipment/|title=Following the US and Uzbek Turkmenistan, intends to purchase Japanese agricultural equipment|date=23 January 2019|publisher=Turkmenistan News Gazette}}</ref>

Between 2017 and 2020 Claas delivered 1,000 Tucano 420 grain combines, 800 Axion 850 plowing tractors, and 1,550 Axos 340 tractors.  In the 2017 and 2018 crop years John Deere delivered 440 Model 9970 cotton harvesters, and between 2019 and 2020 another 600.<ref name=tractor1>{{cite news|url=https://turkmenportal.com/blog/26237/partiya-selhoztehniki-john-deere-s-telematicheskoi-sistemoi-upravleniya-postupila-v-turkmenistan|title=Партия сельхозтехники "John Deere" с телематической системой управления поступила в Туркменистан|date=24 March 2020|publisher=Turkmenportal}}</ref><ref name=deere2>{{cite web|url=https://ciseg.eu/john-deere-will-supply-1350-mashines-to-turkmenistan/|title=07 FEB JOHN DEERE WILL SUPPLY 1350 MACHINES TO TURKMENISTAN|publisher=CISEG|date=7 February 2017}}</ref>

==Trade==
The following table presents the value of Turkmenistan's exports and imports in millions of US dollars, by year, from 2015 through 2019.<ref name=stat2020t>{{cite book|title=Türkmenistanyň Ýyllyk Statistik Neşiri 2019 Ýyl|pages=120–125|date=2020|place=Ashgabat|language=Turkmen, Russian, English|publisher=State Committee of Statistics of Turkmenistan}}</ref>

{| class="wikitable"
|
| align="center" |2015
| align="center" |2016
| align="center" |2017
| align="center" |2018
| align="center" |2019
|-
| align="center" |exports
| align="center" |12,164.0
| align="center" |7,520.1
| align="center" |7,787.9
| align="center" |11,650.9
| align="center" |11,103.8
|-
| align="center" |imports
| align="center" |14,051.4
| align="center" |13,176.8
| align="center" |10,188.6
| align="center" |5,322.9
| align="center" |5,831.7
|}

Turkmenistan's most important export commodity is natural gas, delivered by pipelines to China and in lesser quantities to Russia and via a swap through Iran to Azerbaijan, and by road and rail to Afghanistan as liquid petroleum gas.  According to Chinese Customs data, the value of Chinese imports of natural gas from Turkmenistan fell from US$8,686,022,768 in 2019 to US$6,071,165,273 in 2020 due to a combination of reduced Chinese import volumes and falling hydrocarbon prices.<ref>{{cite web|url=http://43.248.49.97/indexEn|title=China Customs Statistics|access-date=2021-03-15|archive-date=2020-05-10|archive-url=https://web.archive.org/web/20200510193237/http://43.248.49.97/indexEn|url-status=dead}}</ref>  Crude oil and refined petroleum products accounted for another US$3 billion of exports in 2019, followed by US$123.6 million for cotton textiles.  Among imports, major categories in 2019 were machinery (US$1.5 billion), base metals (US$968.3 million), chemicals (US$682.3 million), vehicles (US$453.5 million), and plastic and rubber and products thereof (US$342.9 million).<ref name=stat2020t />

In March 2023 the Turkmenistan [[Assembly of Turkmenistan|parliament]] passed a law adopting the [[Harmonized System]] of tariff nomenclature.<ref>{{citation |url=https://tdh.gov.tm/ru/post/35144/zasedanie-medzhlisa-turkmenistana-2 |title=Заседание Меджлиса Туркменистана |trans-title=Session of the Turkmenistan Mejlis |date= 16 March 2023 |language=ru |publisher= Туркменистан сегодня}}</ref>

==Labour==
{{See also|Demographics of Turkmenistan}}
In 2019, Turkmenistan counted 666,500 employees of large- and medium enterprises, and 103,900 employees of non-state (private, mixed public-private, or foreign) enterprises.  The structure of employment was 25.3% in the state sector, 50.3% in the private sector, 22.0% mixed public-private enterprises, 0.2% in public associations, 0.4% in cooperatives, and 1.8% in foreign-owned enterprises, including joint ventures.<ref name=stat2020f /> According to official statistics, in 2019 77,474 individuals were employed by individual entrepreneurs, including self employment.<ref name=stat2020g>{{cite book|title=Türkmenistanyň Ýyllyk Statistik Neşiri 2019 Ýyl|page=146|date=2020|place=Ashgabat|language=Turkmen, Russian, English|publisher=State Committee of Statistics of Turkmenistan}}</ref>

Major sectors for employment were:

43.5% in agriculture<br>
9.8% in manufacturing<br>
8.4% in education<br>
7.4% in trade and vehicle repair<br>
5.8% in construction<br>
4.3% in transport and storage<br>
3.6% in health and social work<br>
2.9% in arts, entertainment<br>

The average monthly wage in 2019 was 1,685.10 manats per month, up from 943.40 in 2012 and 507 in 2007.<ref name=stat2020f>{{cite book|title=Türkmenistanyň Ýyllyk Statistik Neşiri 2019 Ýyl|pages=219–301|date=2020|place=Ashgabat|language=Turkmen, Russian, English|publisher=State Committee of Statistics of Turkmenistan}}</ref><ref>{{Cite web |url=http://www.stat.gov.tm/assets/social/makro_2007_2012_t.pdf |title=Archived copy |access-date=2013-04-10 |archive-url=https://web.archive.org/web/20130330010850/http://www.stat.gov.tm/assets/social/makro_2007_2012_t.pdf |archive-date=2013-03-30 |url-status=dead }}</ref>

In 2004 the labour force was estimated to include more than 2.3 million workers, 48.2 percent of whom worked in agriculture, 37.8 percent in services, and 14 percent in industry and construction.<ref name=":1" /> Because the state dominates the economy, an estimated 90 percent of workers are in reality effectively state employees.<ref name=":1" /> It is believed that downsizing the government workforce, which began in 2003, increased unemployment in subsequent years.<ref name=":1" /> Unemployment in 2014 was estimated at 11%.<ref name=":0">{{cite web|title=The World Factbook-TURKMENISTAN|url=https://www.cia.gov/the-world-factbook/countries/turkmenistan/|website=Central Intelligence Agency|access-date=9 January 2018}}</ref> In recent years, due to the economic downturn linked to falling hydrocarbon prices, unemployment is estimated to be as high as 60 percent, despite official figures of less than four percent.<ref>{{cite web|url=https://www.hrw.org/ru/news/2020/10/05/376451|title=Туркменистан: отрицание проблемы и бездействие властей усугубляют продовольственный кризис|date=5 October 2020|publisher=Human Rights Watch|language=Russian}}</ref><ref>{{cite news|url=https://centralasia.news/2598-v-turkmenistane-v-2018-godu-otmechen-nizkiy-uroven-bezraboticy.html|title=В Туркменистане в 2018 году отмечен низкий уровень безработицы|date=23 January 2019|language=Russian|publisher=Central Asia News}}</ref>

==Privatization==
According to official statistics, between 1994 and the end of 2020, 2,628 former state-owned properties had been privatized.<ref name=stat2020q>{{cite book|title=Türkmenistanyň Ýyllyk Statistik Neşiri 2019 Ýyl|page=149|date=2020|place=Ashgabat|language=Turkmen, Russian, English|publisher=State Committee of Statistics of Turkmenistan}}</ref>
<ref>{{cite news|url=https://www.reuters.com/article/turkmenistan-privatisation-idUSL6N0AH0IH20130112|title=Turkmenistan plans sell-offs, but not in oil and gas|work=Reuters|date=12 January 2013|access-date=4 March 2015}}</ref>

The breakout by type of enterprise privatized was:<br>
:845 wholesale and retail trade, vehicle repair
:143 manufacturing
:108 real estate operations
:95 agriculture, forestry, fisheries
:51 transportation and storage
:27 construction
:18 hospitality industry
:1,341 other services

In March 2021, President Berdimuhamedow ordered conversion of [[Türkmenderýaýollary|Derýaýollary Production Association]], a subordinate unit of the [[State Service of Maritime and River Transportation of Turkmenistan]] (Türkmendeňizderýaýollary) state agency responsible for river and canal transport, into an [[open joint-stock company]].<ref name=derya>{{cite news|url=https://turkmenistan.gov.tm/en/post/52941/deryayollary-production-association-be-reorganized-stock-corporation|title=Derýaýollary Production Association is to be reorganized into stock corporation|date=March 19, 2021|publisher="Turkmenistan: Golden Age"}}</ref>

All land remains property of the government, as during the Soviet era.

==Macro-economic trends==
The following table shows the main official economic indicators in 1993–2020 as provided by the Turkmenistan government to the International Monetary Fund.<ref>{{cite web|title=Report for Selected Countries and Subjects|url=http://www.imf.org/external/pubs/ft/weo/2018/01/weodata/weorept.aspx?sy=1992&ey=2023&scsm=1&ssd=1&sort=country&ds=.&br=1&c=925&s=NGDP_RPCH,PPPGDP,PPPPC,PCPIPCH,GGXWDG_NGDP&grp=0&a=&pr.x=65&pr.y=1|access-date=2018-08-28|language=en-US}}</ref> 
{| class="wikitable" style="text-align: center;"
!Year
!GDP (in bil. US$ PPP)
!GDP per capita (in US$ PPP)
!GDP (in bil. US$ nominal)
!GDP growth (real)
!Inflation (in Percent)
!Government debt (in % of GDP)
|-
!1993
|10.9
|2,975
|15.9
|−10.0 %
|3,102.4 %
|...
|-
!1995
|8.9
|2,070
|12.7
|−7.2 %
|1,005.2 %
|...
|-
!2000
|11.6
|2,554
|16.8
|18.6 %
|23.6 %
|44 %
|-
!2005
|27.5
|5,755
|39.9
|13.0 %
|10.7 %
|5 %
|-
!2006
|31.4
|6,509
|45.6
|11.0 %
|8.2 %
|3 %
|-
!2007
|35.8
|7,335
|52.1
|11.1 %
|6.3 %
|2 %
|-
!2008
|41.9
|8,478
|60.9
|14.7 %
|14.5 %
|3 %
|-
!2009
|44.8
|8,954
|65.0
|6.1 %
|−2.7 %
|2 %
|-
!2010
|49.6
|9,740
|76.5
|9.2 %
|4.4 %
|4 %
|-
!2011
|58.0
|11,212
|88.1
|14.7 %
|5.3 %
|10 %
|-
!2012
|65.6
|12,455
|90.1
|11.0 %
|5.3 %
|18 %
|-
!2013
|73.5
|13,687
|89.5
|10.2 %
|6.8 %
|20 %
|-
!2014
|82.5
|15,093
|94.1
|10.3 %
|6.0 %
|17 %
|-
!2015
|88.8
|15,952
|93.8
|6.4 %
|7.4 %
|22 %
|-
!2016
|95.5
|16,922
|90.5
|6.2 %
|3.6 %
|24 %
|-
!2017
|81.8
|14,324
|100.0
|6.5 %
|8.0 %
|31 %
|-
!2018
|88.9
|15,048
|103.3
|6.2 %
|13.3 %
|31 %
|-
!2019
|96.2
|15,766
|101.6
|6.3 %
|5.1 %
|33 %
|-
!2020
|99.3
|15,810
|99.9
|1.8 %
|8.0 %
|31 %
|}

The accuracy of [[GDP]] figures has been called into doubt by the [[Asian Development Bank]], which in 2006 noted, "According to official statistics, the economy continued to grow rapidly in 2005, but actual growth was likely much lower than the official estimate. Government has overstated growth in the past."<ref name=adb>{{cite web|url=https://www.adb.org/sites/default/files/publication/27711/tkm.pdf|title=Turkmenistan|date=2006}}</ref> The [[UK]] government's ''Overseas Business Risk'' report for 2021 notes, "No reliable economic data are published in Turkmenistan. Most sources cite figures which the government releases to the international financial institutions. These do not always square with observation on the ground."<ref name=uk>{{cite web|url= https://www.gov.uk/government/publications/overseas-business-risk-turkmenistan/overseas-business-risk-turkmenistan|title=Overseas Business Risk - Turkmenistan|date=15 February 2021|publisher=Government of the United Kingdom}}</ref>  Outside observers have also expressed skepticism about the official figures for the rate of inflation.<ref name=hanke1>{{cite news|url=https://www.rferl.org/a/turkmenistan-in-a-skid-berdymukhammedov-pedals-on/29289107.html|title=Spinning Its Wheels: With Turkmenistan In A Skid, Berdymukhammedov Pedals On|first=Pete|last=Baumgartner|date=13 June 2018|publisher=RFE/RL}}</ref><ref name=hanke2>{{cite news|url=https://akipress.com/news:607461:American_professor_says_Turkmenistan_has_second_highest_inflation_rate_in_the_world_-_294_/|title=American professor says Turkmenistan has second highest inflation rate in the world - 294%|date=7 June 2018|publisher=AKI Press}}</ref><ref name=aljazeera>{{cite news|url=https://www.aljazeera.com/economy/2019/7/15/hyperinflation-and-hunger-turkmenistan-on-edge-of-catastrophe|title=Hyperinflation and hunger: Turkmenistan on 'edge of catastrophe'|date=15 July 2019|first=Madeline|last=Roache|publisher=Al Jazeera}}</ref> In the June 2021 ''Global Economic Prospects'' report, the [[World Bank]] excluded Turkmenistan "<nowiki>[</nowiki>d<nowiki>]</nowiki>ue to lack of reliable data of adequate quality".<ref name=wbgep2021>{{cite web|url=https://openknowledge.worldbank.org/bitstream/handle/10986/35647/9781464816659.pdf |title=Global Economic Prospects |date=June 2021 |publisher=[[World Bank]]|page=4}}</ref>

At a session of the [[Cabinet of Ministers (Turkmenistan)|Cabinet of Ministers]] on 11 March 2021, government officials revealed that in "recent years" Turkmenistan had borrowed over US$14&nbsp;billion in foreign exchange loans from foreign creditors, of which US$5&nbsp;billion remained outstanding as of 8 March 2021.<ref name=altynasyr1>{{cite news|url=https://turkmenistan.gov.tm/ru/post/52760/effektivnoe-osvoenie-inostrannyh-investicij-i-gramotnyj-marketing-na-povestke-pravitelstvennogo-soveshchaniya|title=Эффективное освоение иностранных инвестиций и грамотный маркетинг – на повестке дня правительственного совещания|date=11 March 2021|language=Russian|publisher=«Туркменистан: золотой век»}}</ref><ref name=altynasyr2>{{cite news|url=https://www.youtube.com/watch?v=bPvKR1TAr0U |archive-url=https://ghostarchive.org/varchive/youtube/20211211/bPvKR1TAr0U| archive-date=2021-12-11 |url-status=live|title=Watan 11.03.2021|publisher=Altyn Asyr}}{{cbignore}} video at 37:15</ref> However, a chart shown on television indicated debt in 2021 of US$1.3524 billion.<ref name=altynasyr2 /><ref name=hronika1>{{cite news|url=https://www.hronikatm.com/2021/03/payback-time/ |title=Бердымухамедов озаботился возвратом иностранных кредитов | date=12 March 2021 |language=ru |publisher=Chronicles of Turkmenistan}}</ref> Opposition media seized on this figure to estimate GDP of US$12.3 billion based on a statement by Central Bank Chairman Rahimberdi Jepbarov that external debt equals 11% of GDP.<ref name=hronika2>{{cite news|url=https://www.hronikatm.com/2021/09/gdp-shenanigans/ |title=Глава Внешэкономбанка назвал объем внешнего долга Туркменистана. Он не соответствует заявляемому ВВП страны |date=13 September 2021 |language=ru |publisher=Chronicles of Turkmenistan}}</ref>

In June 2021, official state media reported that debts to China for construction of natural gas pipelines had been paid in full.<ref name=timesofindia>{{cite news|url=https://timesofindia.indiatimes.com/world/rest-of-world/turkmenistan-says-china-gas-pipeline-debt-paid-off/articleshow/83459369.cms |title=Turkmenistan says China gas pipeline debt paid off |date=12 June 2021 |publisher=[[Agence France Press]]}}</ref><ref name=eunet2021>{{cite news|url=https://eurasianet.org/turkmenistan-chinese-debt-trap-unlocked |title=Turkmenistan: Chinese debt trap unlocked |date=15 June 2021 |publisher=Eurasianet}}</ref>

==Miscellaneous statistics==

'''Exchange rates prior to 2009'''

During the early years of independence, the official exchange rate of the Turkmen manat to the US dollar grew dramatically.  At the same time, the black-market exchange rate grew even faster, eventually hovering around 24,000 to 25,000&nbsp;manats to the dollar.
{| class="wikitable" style="text-align:center"
|+Manat to dollar exchange rate
|-
! Date !! Rate
|-
| January 1996 || 2,400
|-
| January 1997 || 4,070
|-
| January 1999 || 5,350
|-
| January 2000 || 5,200
|}

==Notes==
{{reflist}}

==External links==
{{External links|date=June 2016}}
* [http://www.rferl.org/featuresarticle/2006/11/CB06DCDE-C0D7-40C7-B0E9-8AC1BD48F6F2.html Turkmenistan: Potential 'Super-Giant' Emerges On Energy Scene] on www.rferl.org
* Salaries, Prices and Standard of Living Today (Overview), {{Langx|tk| Зарплаты, цены и уровень жизни сегодня (обзор) }}, on {{URL|http://asgabat.net}} {{Web archive| url = https://web.archive.org/web/20140320175056/http://asgabat.net/stati/yekonomika/zarplaty-ceny-i-uroven-zhizni-segodnja-obzor.html }}

{{Turkmenistan topics}}
{{Asia in topic|Economy of}}
{{Authority control}}

{{DEFAULTSORT:Economy Of Turkmenistan}}
[[Category:Economy of Turkmenistan| ]]