Current Account in Turkmenistan
Turkmenistan - Current Account
While official figures paint a rosy picture of the economy, international sources warn of a deepening crisis, owing to a chronic over-dependence on the hydrocarbon sector, as well as economic mismanagement and corruption. A dive in gas prices in 2014–2016, the halt of gas sales to Russia in 2016–2019 and continued weak agricultural production have landed the economy in a tough spot. Tight import controls aimed at shoring up the manat have resulted in widespread food shortages. This, coupled with the elimination of free utilities, have ramped up inflation and curtailed the availability of hard currency. Moreover, despite the resumption of gas exports to Russia in April last year, the suspension of gas sales to Iran over price disputes have weighed on export revenues. In politics, the president sacked his long-standing interior minister on 1 October for failure to tackle corruption and has launched an investigation into graft.Turkmenistan - Current Account Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Current Account (% of GDP) | -7.3 | -6.1 | -15.6 | -20.2 | -10.3 |
Turkmenistan Current Account Chart
Source: IMF
Turkmenistan Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 3.50 | 0.01 % | Sep 04 |
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