Topic: Economy & business
14 June 2005. Turkmenistan’s foreign trade turnover was US $2, 659 bln in January-April 2005, up 17% year-on-year, the Ashgabat correspondent of Turkmenistan.ru reports referring to data released by the National institute of state statistics and information.
In the first four months of the yeas, trade with CIS countries surged 28,7% to US $ 1,229,3 bln year-on-year owing to 29% rise in exports and 28% rise in imports. Trade surplus with CIS countries totaled US $ 407,3 mln.
Trade turnover with the rest of the world amounted to US $ 1,429,7 bln, an increase by 8,5% on the same period of last year. Although imports (16,8%) rose faster than did exports (3%), trade balance with those countries showed a surplus of US $ 200,3 mln.
Turkmenistan’s exports was US $ 1,633,3 bln in January-April 2005 as opposed to US $ 1,426 bln in the same period of 2004.
Exports of natural gas grew from 53% to 55%. Exports of oil products rose from 19% to 24%. Exports of textile products shrank from 7% to 6%, cotton – from 7% to 1%.
Favorable prices at the world markets of fuel-energy products contributed to achieving high export growth rates in terms of money measure of such products as natural gas, oil and oil products. In fact, in the four months of the year, a 23% rise in the average export price made it possible to increase natural gas supplies in terms of money measure by 17,6% against a 4% fall in volume of exports year-on-year. The same trend was reported in exports of oil and oil products. Exports of electricity in the reported period grew both in money measure (16,8%) and in volumes (by 16,4%).
Turkmenistan exported to 50 countries, with Ukraine, Iran, Italy, Turkey and Azerbaijan consuming over 80% of the total exports.
Turkmenistan imports stood at US $ 1,025,7 bln in January-April 2005, up 21,1% on 2004. Growth in imports in terms of money measure was mainly due to a 1,7-time increase in imports of raw materials and a 1,5-time increase in imports of consumer goods.
Turkmenistan imported from 71 countries. Imports grew from Ukraine (46%), Russia (18%), France (6 times) and China (2 times).