BAKU, Azerbaijan, August 23. Fitch Ratings has released its 2025 peer analysis, highlighting Turkmenistan’s economic and financial indicators relative to other sovereigns with similar credit profiles, Trend reports.
The analysis shows Turkmenistan’s projected GDP per capita at $13,013, above the BB median of $9,093 and well above the B median of $2,664, though slightly below the BBB median of $13,866. The country’s share in global GDP remains minimal at 0.1 percent, in line with BB-rated peers.
Governance and social indicators present mixed results. Turkmenistan scored in the 11.5th percentile for the composite governance indicator, lower than both BB- and BBB-rated peers, while its Human Development Index ranks at the 51st percentile, close to the BB median of 52.8 percent.
Financial sector metrics highlight a relatively cautious credit environment. Broad money accounts for 33.5 percent of GDP, below the BB median of 49.8 percent, and private credit stands at 11.2 percent of GDP, well under the BB peer median of 40.2 percent. The dollarization ratio of bank deposits is 32.2 percent, slightly below the BB peer median of 36 percent, while the banking system’s capital ratio is a robust 28.5 percent, significantly higher than the BB median of 16.7 percent.
Fitch notes that these structural and financial indicators provide context for assessing Turkmenistan’s resilience, fiscal flexibility, and capacity to manage external shocks relative to peer countries across the B, BB, and BBB rating spectrum.
