Turkmenistan's GDP increases significantly

2017-08-05 05:17:09

(MENAFN- Trend News Agency ) Ashgabat, Turkmenistan, Aug. 5

By Huseyn Hasanov – Trend:

Turkmenistan's GDP grew by 6.4 percent in January-July 2017, Deputy Prime Minister Bashim Khojamammadov said in the Government meeting.

According to the message from the Turkmen Government, Khojamammadov said Turkmenistan's GDP rose in industry by 3.4 percent, in construction – by 3.9 percent, in transportation and communications sector – by 10.9 percent, in trade – by 9.2 percent, in agriculture – by 4.6 percent, and in services sector – by 10 percent.

In January-July 2017, the growth rate of production increased by 4.7 percent, as compared to the same period of 2016.

Turkmenistan is rich in natural gas resources. According to BP, the country's recoverable reserves are estimated at 17.5 trillion cubic meters of gas or 9 percent of total global reserves, which places Turkmenistan into the fourth position succeeding Iran, Russia and Qatar.

The country is diversifying its economy; textile and oil products industries have been improved; oil, gas and chemical industries, as well as the production of construction materials are being actively developed.

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