According to the results of 2023 and the first half of 2024, Turkmenistan’s economic growth remains at 6.3%, largely supported by increasing production in various commodity sectors. This was stated by Serdar Jorayev, Turkmenistan’s Minister of Finance and Economy, during his speech at the Turkmenistan Investment Forum.
Today, the Turkmenistan Investment Forum began its work in Ashgabat. At the plenary session titled “Turkmenistan’s Economic Development and Investment Opportunities,” Minister of Finance and Economy Serdar Jorayev provided an overview of the country’s economic growth potential.
“One of Turkmenistan’s most important objectives is to create an industrialized society. In this regard, we are working to fundamentally transform the national economy, shifting it from a raw materials-based model to an industrial-innovative development model. We are implementing high-tech, science-based industries, transitioning to a digital economy, and constructing modern enterprises that produce high value-added products in demand on global markets,” the minister emphasized.
Minister Serdar Jorayev also noted that by the end of 2023, the share of industry in the country’s gross domestic product (GDP) had reached 33.1%, marking a 3.8% increase over the past two years.
Furthermore, the minister highlighted ongoing efforts to develop a national model of a circular economy in Turkmenistan.
During the same session, Rahymberdi Jepbarov, Chairman of the Board of the State Bank for Foreign Economic Affairs of Turkmenistan, mentioned that the country’s economy grew by 6.3% in the first half of 2024, achieving its set goals and objectives.
Rahymberdi Jepbarov also noted that during this period, Turkmenistan’s foreign trade turnover exceeded 9.9 billion dollars, with a positive trade balance of 2.973 billion dollars.