Topic: Economy & business
GDP Growth in Turkmenistan up 20.5% in Jan-Jul Assessment, Economy Growing
Ashgabat, 11 August 2005 (nCa) --- Statistics released by Turkmenistan for the Jan-Jul 2005 period indicate that the GDP has maintained a steady growth rate of 20.5% for the period under review. All sectors of economy maintained strong activity.
Industrial sector posted 18.7% growth, agriculture 19.9%, construction 17.2%, transport and communication 17.4 for the Jan-Jul period.
Trade and services sectors reported 28.4% and 23.2% increase in volume compared to the same period of last year.
Oil and gas sector continued to register healthy activity. Extraction of oil was 5.679 million tons and gas 37.344 billion cubic meters during the reported period. Out of this volume, 26.984 billion cubic meters of gas was exported to Ukraine, Russia and Iran.
Production of liquefied gas increased by 16%, mostly because of the Nayep LPG complex that came on line at the end of last year. Further increase in LPG capacity is expected when Bagazha and Yashildepe plants come in production.
Lube oil production increase by 4% and polypropylene by 3% during the first seven months of this year.
Petrol production registered an imperceptible 0.1% rise and diesel oil 1% during the review period.
Power generation showed 10% gain. During the Jan-Jul period, 7.378 billion kWh of electricity was produced in Turkmenistan.
Building materials industry returned high growth figures; cement production rose by 230%, sheet glass 11% and non-metallic building material 10%.
Textile industry retained its trend of brisk growth. Cotton yarn production was up by 16%, cotton fabrics 4%, hosiery products 1%, silk yarn 42%, and washed wool 12%.
Canned meat production expanded by 26%, confectionery products 4%, and vegetable oil 4%.
Production of non-alcoholic beverages improved by 16%.
Wheat output was up by 9%, vegetables 7%, melons and gourd 5%, potatoes 10%, fruit and berries 4%, and grapes 9%.
Livestock population showed steady increase. Horned cattle increased by 2%, sheep and goat 7%.
Meat production increased by 9%, milk 11%, eggs 10%, and wool 6%.