Turkmenistan's industrial sector demonstrated robust growth at the end of 2023, with natural gas production reaching 80 billion 618.7 million cubic meters and oil production reaching 8 million 316.7 thousand tons, as reported by Dovletgeldi Amanmuhammedov, the Chairman of the State Committee on Statistics, during an extended meeting of the Cabinet of Ministers on Friday, according to Turkmenistan's official media.

Amanmuhammedov reported that, compared to 2022, the production of various commodities exhibited positive trends: petroleum bitumen increased by 30.1 percent, liquefied gas by 1.1 percent, kerosene by 0.6 percent, sheet glass by 15.6 percent, cement by 0.8 percent, raw silk by 17.1 percent, sewing and knitwear by 8.9 percent, sausage products by 7.7 percent, dairy products by 1.7 percent, canned fruits and vegetables by 5.5 percent, and butter by 6.8 percent.

Chairman Amanmuhammedov also highlighted efforts to align statistical reporting forms and data collection methods with current realities and international standards.

President Serdar Berdimuhamedov emphasized key priorities outlined in the draft Program for the socio-economic development of Turkmenistan and investments in 2024 during the Cabinet of Ministers meeting. The program aims to successfully implement the broader socio-economic development program for the country from 2022 to 2028.

In line with the program, the objectives for 2024 include maintaining GDP growth at 6.3 percent, creating around 3,000 new jobs through the establishment of new enterprises, increasing foreign trade turnover to 20.7 billion US dollars, and fostering the development of small and medium-sized businesses. The private sector's share in the GDP structure is targeted to increase to 71.4 percent, the Head of State noted.

The meeting concluded with the signing of a resolution approving the Program.

Business Turkmenistan