Current Account in Turkmenistan
Turkmenistan - Current Account
The economy likely performed relatively well in the first quarter of this year. Government figures show a strong increase in foreign trade turnover in Q1 compared to the same period of 2021, as well as sustained retail sales and productivity growth. Moreover, the volume of loans also expanded robustly in annual terms, according to news agencies. However, the economy has likely experienced some slowdown since the outbreak of the Ukraine war, due to its trade links with Russia and the tourism and remittances flows it receives from the country. That said, Turkmenistan could also stand to benefit as EU countries are considering the country as a potential gas provider as they aim to rely less on Russia. Meanwhile, the IMF recently announced that it will deliver technical assistance to reform the country’s budget and tax system.Turkmenistan - Current Account Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Current Account (% of GDP) | -15.6 | -20.2 | -10.4 | 5.5 | - |
Turkmenistan Current Account Chart
Source: IMF
Turkmenistan Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 3.50 | 0.01 % | Jan 01 |
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