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Turkmenistan is largely a desert country with intensive agriculture in irrigated oases and sizeable gas and oil resources. One-half of its irrigated land is planted in cotton; formerly it was the world's 10th-largest producer. Poor harvests in recent years have led to an almost 50% decline in cotton exports. With an authoritarian ex-Communist regime in power and a tribally based social structure, Turkmenistan has taken a cautious approach to economic reform, hoping to use gas and cotton sales to sustain its inefficient economy. Privatization goals remain limited. From 1998-2005, Turkmenistan suffered from the continued lack of adequate export routes for natural gas and from obligations on extensive short-term external debt. At the same time, however, total exports rose by an average of roughly 15% per year from 2003-08, largely because of higher international oil and gas prices. New pipelines to China and Iran, that began operation in late 2009 or early 2010, will give Turkmenistan additional export routes for its gas. Overall prospects in the near future are discouraging because of widespread internal poverty, endemic corruption, a poor educational system, government misuse of oil and gas revenues, and Ashgabat's reluctance to adopt market-oriented reforms. In addition, the global recession and a contract dispute with Russia that had virtually stopped exports via this major export route for about 9 months slowed Turkmenistan's economy in 2009. In the past, Turkmenistan's economic statistics were state secrets. The new government has established a State Agency for Statistics, but GDP numbers and other figures are subject to wide margins of error. In particular, the rate of GDP growth is uncertain. Since his election, President BERDIMUHAMEDOW unified the country's dual currency exchange rate, ordered the redenomination of the manat, reduced state subsidies for gasoline, and initiated development of a special tourism zone on the Caspian Sea. Although foreign investment is encouraged, numerous bureaucratic obstacles impede international business activity.
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$32.56 billion (2009 est.)
country comparison to the world: 102
$30.69 billion (2008 est.)
$27.78 billion (2007 est.)
note:
data are in 2009 US dollars
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$31.86 billion (2009 est.)
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6.1% (2009 est.)
country comparison to the world: 18
10.5% (2008 est.)
11.6% (2007 est.)
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$6,700 (2009 est.)
country comparison to the world: 127
$6,400 (2008 est.)
$5,800 (2007 est.)
note:
data are in 2009 US dollars
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agriculture: 10.1%
industry:
30.5%
services:
59.4% (2009 est.)
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2.3 million (2008 est.)
country comparison to the world: 113
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agriculture: 48.2%
industry:
14%
services:
37.8% (2004 est.)
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60% (2004 est.)
country comparison to the world: 195
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30% (2004 est.)
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lowest 10%: 2.6%
highest 10%:
31.7% (1998)
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40.8 (1998)
country comparison to the world: 60
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8.5% of GDP (2009 est.)
country comparison to the world: 150
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revenues: $1.459 billion
expenditures:
$1.612 billion (2009 est.)
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10% (2009 est.)
country comparison to the world: 194
13% (2008 est.)
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$NA
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cotton, grain; livestock
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natural gas, oil, petroleum products, textiles, food processing
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-26.6% (2009 est.)
country comparison to the world: 167
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15.5 billion kWh (2009 est.)
country comparison to the world: 79
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13 billion kWh (2009 est.)
country comparison to the world: 79
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2.5 billion kWh (2009 est.)
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0 kWh (2009 est.)
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197,700 bbl/day (2009 est.)
country comparison to the world: 42
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120,000 bbl/day (2009 est.)
country comparison to the world: 72
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38,360 bbl/day (2009 est.)
country comparison to the world: 82
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0 bbl/day (2009 est.)
country comparison to the world: 208
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700 million bbl (1 January 2009 est.)
country comparison to the world: 43
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34 billion cu m (2009 est.)
country comparison to the world: 25
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20 billion cu m (2009 est.)
country comparison to the world: 34
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14 billion cu m (2009 est.)
country comparison to the world: 15
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0 cu m (2008 est.)
country comparison to the world: 121
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7.94 trillion cu m (1 January 2009 est.)
country comparison to the world: 4
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$1.065 billion (2009 est.)
country comparison to the world: 42
$5.145 billion (2008 est.)
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$6.737 billion (2009 est.)
country comparison to the world: 94
$12.34 billion (2008 est.)
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gas, crude oil, petrochemicals, textiles, cotton fiber
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Ukraine 22.3%, Turkey 10.27%, Hungary 6.75%, UAE 6.25%, Poland 6.16%, Afghanistan 5.79%, Iran 5.17% (2009)
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$4.109 billion (2009 est.)
country comparison to the world: 121
$5.601 billion (2008 est.)
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machinery and equipment, chemicals, foodstuffs
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China 18.03%, Turkey 16.49%, Russia 16.45%, Germany 5.91%, UAE 5.81%, Ukraine 5.67%, US 5.41%, France 4.32% (2009)
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$9.551 billion (31 December 2009 est.)
country comparison to the world: 69
$13.8 billion (31 December 2008 est.)
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$5 billion (2009 est.)
country comparison to the world: 102
$1.4 billion (2004 est.)
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Turkmen manat (TMM) per US dollar - 2.85 (2009), 14,250 (2008)
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