BAKU, Azerbaijan, May 16. Turkmenistan’s gross domestic product (GDP) will increase by 6.5 percent in 2023, Trend reports, referring to the latest economic report issued by the European Bank for Reconstruction and Development (EBRD).
The Bank also predicts that Turkmenistan's GDP growth rate will reach 7 percent in 2024, and 2022 it reached 6.2 percent.
According to the information, a new gas well was commissioned in Turkmenistan in January 2023 in one of the largest fields in the world, Galkanysh, which contributed to the further expansion of gas production and export.
The bank noted that the volume of transit cargo transported through the Turkmen Turkmenbashi seaport increased 2.5 times in 2022 mainly due to the transit of petroleum products, chemical cargo, construction materials, metals, food, machinery, and spare parts.
The opportunity to play a more central role in serving trade between China, Iran, Central Asia, Türkiye, and southern Europe could lead to a gradual modernization of the country’s transportation networks and logistics capabilities, including border management, the bank added in its report.
