Cautious opening to investors. Turkmenistan is now actively engaging with international investors, including the holding of showcase events, as it tries to attract more foreign investment. It is also trying to expand trade partnerships and has indicated a desire to join the WTO. President Berdymukhamedov has declared the slogan for 2020 as “Turkmenistan – The Home of Neutrality”.
This is the first report in a three-part review covering the consumer sectors in the five Central Asian states. Part 2 will review the Caucuses countries and part three will focus on Ukraine and Belarus. These reports will provide an overview of the trends in the major consumer sectors and identify the major and emerging themes in each country. Macro-Advisory provides more detailed strategic and due-diligence analysis covering all of the identified themes.
Near double‐digit GDP growth expected. Turkmenistan has been able to sustain double‐digit headline growth for many years and has a macro profile which compares favorably with others in the region and amongst other emerging or frontier economies.
Growth. GDP expanded by 6.2% in 2018, based on State guidance and data. However, official statistics are often incomplete and unreliable. They are more indicative of trend. That trend is for a slowing pace of growth over the medium term. The problem is that the country was too reliant on gas sales to China so when volumes and prices fell the country faced a crisis.