Turkmenistan Achieves 6.3% GDP Growth in 2023

Hojamyrat Geldimyradov, Deputy Chairman of the Cabinet of Ministers for Economic and Financial Affairs, during a government meeting on Friday, announced a notable 6.3% GDP growth in 2023 due to comprehensive measures taken throughout the year. 

According to Turkmenistan's official media, the industrial complex experienced a 4.3% increase, construction saw a 2% rise, the transport and communications sector surged by 8.4%, trade marked a substantial 12.8% growth, agriculture grew by 4.4%, and the service sector exhibited a 5.1% increase.

The overall output witnessed a significant 7.8% rise compared to 2022, and retail sales soared by 10.9% in the same period. 

Wages at large and medium-sized enterprises in the country also increased by 9.9% compared to the previous year. The capital investments development plan from all financing sources was fully completed last year, reflecting a 7.5% increase compared to 2022.

Deputy Prime Minister Geldimyradov reported on the preparation of the draft Program for the Socio-Economic Development of Turkmenistan and Investments for 2024.

The meeting, which included reports from deputy prime ministers and various ministry and province administration heads, highlighted the successful economic sectors' performance in 2023.

Business Turkmenistan