Turkmenistan: Selected Trade and Economic Issues

17-05-2013

Like a number of former Soviet Union republics in Central Asia, Turkmenistan has recently recorded quite high economic growth rates — often in the double digits — mainly thanks to the increasing global demand for energy and other raw materials, which are abundant in the country. Despite recent progress, the country's economic growth is still hampered by inefficient economic and public structures, still largely inspired by Soviet models and lacking modern infrastructure. The geographical location of Turkmenistan, a land-locked country with some 'difficult' neighbours (such as Iran and Afghanistan), also negatively influences its development. Among the former Soviet Union republics, Turkmenistan has what is probably the worst record in terms of economic and trade liberalisation. Despite growing public revenues, malnutrition still plagues remote rural areas, and poverty is widespread.

Like a number of former Soviet Union republics in Central Asia, Turkmenistan has recently recorded quite high economic growth rates — often in the double digits — mainly thanks to the increasing global demand for energy and other raw materials, which are abundant in the country. Despite recent progress, the country's economic growth is still hampered by inefficient economic and public structures, still largely inspired by Soviet models and lacking modern infrastructure. The geographical location of Turkmenistan, a land-locked country with some 'difficult' neighbours (such as Iran and Afghanistan), also negatively influences its development. Among the former Soviet Union republics, Turkmenistan has what is probably the worst record in terms of economic and trade liberalisation. Despite growing public revenues, malnutrition still plagues remote rural areas, and poverty is widespread.