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2023
Economic Complexity
Trade -0.69Rank 96 of 132
2023
Product
Exports | Imports $15.3B | $4.72B87 of 226 |  148 of 226
2023
Per Capita Product
Exports | Imports $2.08k | $64194 of 220 |  172 of 220

About

Overview In 2023, Turkmenistan was the number 88 economy in the world in terms of GDP (current US$), the number 87 in total exports, the number 148 in total imports, the number 95 economy in terms of GDP per capita (current US$) and the number 96 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Turkmenistan are Petroleum Gas ($10.9B), Refined Petroleum ($2.73B), Nitrogenous Fertilizers ($488M), Crude Petroleum ($378M), and Potassic Fertilizers ($208M), exporting mostly to China ($9.63B), Turkey ($1.66B), Greece ($1.03B), Uzbekistan ($950M), and Azerbaijan ($687M).

Imports The top imports of Turkmenistan are Broadcasting Equipment ($312M), Cars ($191M), Wheat ($177M), Computers ($158M), and Buses ($105M), importing mostly from Turkey ($1.01B), United Arab Emirates ($998M), China ($957M), Kazakhstan ($397M), and Germany ($215M).

Location Turkmenistan borders Afghanistan, Iran, Kazakhstan, and Uzbekistan by land and Azerbaijan by sea.

Latest Trends

Latest Trade

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Y-AXIS SCALE

The following section uses the most recent trade data from partners of Turkmenistan.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2023)Petroleum Gas$10.9B
Top Destination (2023)China$9.63B

In 2023, Turkmenistan exported a total of $15.3B, making it the number 87 exporter in the world. During the last five reported years the exports of Turkmenistan have changed by $6.78B from $8.52B in 2018 to $15.3B in 2023.

The most recent exports are led by Petroleum Gas ($10.9B), Refined Petroleum ($2.73B), Nitrogenous Fertilizers ($488M), Crude Petroleum ($378M), and Potassic Fertilizers ($208M). The most common destination for the exports of Turkmenistan are China ($9.63B), Turkey ($1.66B), Greece ($1.03B), Uzbekistan ($950M), and Azerbaijan ($687M).

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Exports (2023)
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Destinations (2023)
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Market Growth

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Growth
Fastest Growing Export Markets (2022 - 2023)
Greece$996M (+ 2.66k%)
Turkey$693M (+ 71.6%)
Uzbekistan$225M (+ 31%)
Fastest Growing Import Markets (2022 - 2023)
Kazakhstan$207M (+ 109%)
Japan$126M (+ 255%)
China$89.1M (+ 10.3%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

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Economic Complexity

Most Specialized Products by RCA Index

Turkmenistan has a high level of specialization in Petroleum Gas (28.4), Halogens (26.2), Asphalt Mixtures (21.3), Nitrogenous Fertilizers (18.4), and Potassic Fertilizers (12.2). Specialization is measured using RCA, an index that takes the ratio between Turkmenistan observed and expected exports in each product.

Most Complex Products by PCI

The highest complexity exports of Turkmenistan according to the product complexity index (PCI) are Inner tubes, of rubber (-0.2), Asphalt or similar material; articles (e.g. petroleum bitumen or coal tar pitch) (-0.22), Electricity (-0.47), Natural magnesium carbonate (magnesite); fused magnesia; dead-burned (sintered) magnesia, whether or not... (-0.58), and Fluorine, chlorine, bromine and iodine (-0.64). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Turkmenistan according to the relatedness index, were Crude Petroleum (0.044), Raw Cotton (0.035), Sulfur (0.034), Tin Ores (0.034), and Gold (0.034). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Turkmenistan is not specialized in.

Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Turkmenistan. These are products that tend to be co-exported with the products that Turkmenistan exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2023)

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Turkmenistan's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨91st to the 96th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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ECI (Trade) Ranking by Country

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