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Export Market

Turkmenistan

ISO: TM / TKM

Country Profile

Capital Ashgabat
Population 7.1M
GDP $51.4B (2024)
GDP per Capita $6,857
Income Level Upper-Middle Income
Currency Turkmenistan manat (TMT m)
Language Russian
Timezone UTC+05:00
Region Asia · Central Asia

Trade Partners

Turkmenistan Exports To

  • China 63.0%
  • Turkey 11.0%
  • Greece 7.0%
  • Uzbekistan 6.0%
  • Azerbaijan 4.0%

Key exports: natural gas, refined petroleum, fertilizers, crude petroleum, electricity (2023)

Turkmenistan Imports From

  • Turkey 21.0%
  • UAE 21.0%
  • China 20.0%
  • Kazakhstan 8.0%
  • Germany 5.0%

Key imports: broadcasting equipment, cars, wheat, computers, iron pipes (2023)

Economic Overview

upper-middle-income Central Asian economy; houses fourth-largest natural gas reserves and rich in natural resources; authoritarian and dominated by state-owned enterprises; challenges include overvalued currency, high inflation risks, lack of economic diversification due to heavy state control and bureaucracy

Government: presidential republic; authoritarian

UK Trade Status

No FTA

There is currently no free trade agreement between the UK and Turkmenistan. Standard WTO terms apply.

Trade Barriers

1 active barrier affecting UK exporters

Mandatory conversion of overseas business revenues into local currency in Turkmenistan

The company has informed us that their revenues, previously received in USD, had to be converted into local currency, Manat, starting from May 2020. A decree of the President of Turkmenistan "On the establishment of a temporary reserve currency fund", …

Sectors: Aerospace

Reported: 30 Jun 2020

Geographic Region

Eastern Europe and Central Asia

Export Guidance

Relevant guidance for exporting to Turkmenistan.

Start Your Export Journey

Export to the EU after Brexit Start exporting from the UK Manage your export compliance

Also in This Region

🇦🇲 Armenia 🇦🇿 Azerbaijan 🇧🇾 Belarus 🇬🇪 Georgia FTA 🇰🇿 Kazakhstan 🇰🇬 Kyrgyzstan 🇲🇩 Moldova FTA 🇷🇺 Russia

Official Resources

Government export support for Turkmenistan.

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