Current Account in Turkmenistan
Turkmenistan - Current Account
Although official statistics paint a rosy picture of the economy in the first quarter and the authorities still claim that the coronavirus has not reached the country, the pandemic and its consequent containment measures abroad and at home likely dealt a heavy blow to activity in the first half of the year. The Chinese lockdown will have hammered gas exports, which account for 16% of GDP, while internal restrictions to movement and border closures will be weighing on domestic demand. To cushion the economic fallout, the authorities have reportedly imposed tax relief measures, facilitated access to credit, and increased import substitution. Moreover, exchange restrictions have been tightened, with custom duties on some goods raised, while Turkmen companies reportedly have to surrender their foreign currency income to the government to boost reserve funds.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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