Industry of Turkmenistan as a key vector of the economy

20 August 2021

Turkmenistan today is one of the most dynamically developing independent states in Central Asia. Its unique natural and climatic conditions, rich mineral resources, developed agriculture and powerful labour potential served as the basis for creating a diversified economy in the country with the priority development of not only the agricultural sector, but also of a powerful industry. In accordance with the economic strategy of the distinguished President Gurbanguly Berdimuhamedov, large-scale reforms, aimed at diversifying industries and increasing exports of products in demand on world markets, are being implemented in Turkmenistan.

World practice shows that industry plays the most important role in the development of the economy of any country. The national leader notes that despite the spread of the coronavirus pandemic in the world, which led to a fall in the world economy, the closure of the borders of all states and a reduction in business contacts, Turkmenistan has maintained and ensured the growth of its economic activity. Its sustainability is ensured due to the balance between the supply from the industrial sector as a locomotive of the economy and domestic demand, supported by high rates of investments and real incomes of the population.

the Head at the Department of Study of Commodity Circulation in External Markets, Directorate of the Study of Commodity Circulation in Internal and External Markets, Ministry of Trade and Foreign Economic Relations of Turkmenistan. Photos: Hasan MAGADOV