Turkmenistan ranked 92/197 by economy size with a GDP of $51.4B and 104/197 by GDP per capita at $6,857. Turkmenistan has $2.11B in government debt, with a debt-to-GDP ratio of 4.11%.
In 2024, Turkmenistan made up 0.05% of the world's economy, compared to 0.01% in 1987.
Turkmenistan GDP & GDP growth by year
| Year | GDP | GDP growth |
|---|---|---|
| 2024 | $51,387,209,872 | 6.3% |
| 2023 | $45,894,538,666 | 6.3% |
| 2022 | $42,208,726,138 | 6.2% |
| 2021 | $40,589,905,812 | 6.2% |
| 2020 | $41,509,903,182 | 5.9% |
| 2019 | $40,810,067,975 | 6.3% |
| 2018 | $40,765,428,571 | 6.2% |
| 2017 | $37,926,285,714 | 6.5% |
| 2016 | $36,169,428,571 | 6.2% |
| 2015 | $35,799,714,286 | 6.5% |
| 2014 | $43,524,210,526 | 10.3% |
| 2013 | $39,197,543,860 | 10.2% |
| 2012 | $35,164,210,526 | 11.1% |
| 2011 | $29,233,333,333 | 14.7% |
| 2010 | $22,583,157,895 | 9.2% |
| 2009 | $20,214,385,965 | 6.1% |
| 2008 | $19,271,523,179 | 14.7% |
| 2007 | $12,664,165,103 | 11.1% |
| 2006 | $10,276,674,365 | 11% |
| 2005 | $8,103,901,996 | 13% |
| 2004 | $6,838,351,088 | 5% |
| 2003 | $5,977,440,583 | 3.27% |
| 2002 | $4,462,029,109 | 0.26% |
| 2001 | $3,534,772,732 | 4.34% |
| 2000 | $2,904,663,311 | 5.47% |
| 1999 | $2,450,564,100 | 16.5% |
| 1998 | $2,605,689,134 | 7.1% |
| 1997 | $2,450,350,625 | -11.4% |
| 1996 | $2,378,759,975 | 6.7% |
| 1995 | $2,482,228,440 | -7.2% |
| 1994 | $2,561,118,608 | -17.3% |
| 1993 | $3,179,225,949 | 1.5% |
| 1992 | $3,200,539,816 | -15% |
| 1991 | $3,208,098,919 | -4.61% |
| 1990 | $3,189,539,641 | 35.4% |
| 1989 | $3,006,988,217 | -4.26% |
| 1988 | $3,010,982,414 | 11% |
| 1987 | $2,331,358,820 | - |
Data sources: World Bank | Economy & Growth (1987–2024, retrieved 2026-04-06).
GeoRank.org/economy/turkmenistan | CC BY 
Turkmenistan GDP per capita by year
| Year | Current $ | |
|---|---|---|
| GDP per capita | GDP per capita, PPP | |
| 2024 | $6,857 | $21,213 |
| 2023 | $6,232 | $19,829 |
| 2022 | $5,838 | $18,340 |
| 2021 | $5,723 | $16,434 |
| 2020 | $5,973 | $15,091 |
| 2019 | $5,998 | $15,478 |
| 2018 | $6,125 | $14,368 |
| 2017 | $5,828 | $13,278 |
| 2016 | $5,687 | $12,919 |
| 2015 | $5,759 | $12,715 |
| 2014 | $7,164 | $12,477 |
| 2013 | $6,600 | $11,723 |
| 2012 | $6,054 | $11,035 |
| 2011 | $5,144 | $10,283 |
| 2010 | $4,059 | $8,972 |
| 2009 | $3,708 | $8,285 |
| 2008 | $3,606 | $7,916 |
| 2007 | $2,415 | $6,901 |
| 2006 | $1,997 | $6,164 |
| 2005 | $1,604 | $5,489 |
| 2004 | $1,379 | $4,798 |
| 2003 | $1,229 | $4,536 |
| 2002 | $936 | $4,393 |
| 2001 | $756 | $4,401 |
| 2000 | $634 | $4,209 |
| 1999 | $546 | $3,981 |
| 1998 | $591 | $3,432 |
| 1997 | $565 | $3,222 |
| 1996 | $558 | $3,636 |
| 1995 | $592 | $3,405 |
| 1994 | $622 | $3,659 |
| 1993 | $788 | $4,422 |
| 1992 | $811 | $4,351 |
| 1991 | $832 | $5,117 |
| 1990 | $848 | $5,321 |
| 1989 | $821 | - |
| 1988 | $846 | - |
| 1987 | $675 | - |
Data sources: World Bank | Economy & Growth (1987–2024, retrieved 2026-04-06).
GeoRank.org/economy/turkmenistan | CC BY
Turkmenistan has a GDP per capita of $6,857, ranking 104/197, a GDP per capita based on purchasing power parity (PPP) of $21,213, ranking 94/197, and a median annual after tax income of $7,520, ranking 87/197.
Turkmenistan GDP rankings by year
| Year | Rank | ||
|---|---|---|---|
| GDP | GDP per capita | GDP per capita, PPP | |
| 2024 | 91 | 98 | 87 |
| 2023 | 93 | 104 | 89 |
| 2022 | 95 | 107 | 89 |
| 2021 | 93 | 100 | 89 |
| 2020 | 92 | 94 | 90 |
| 2019 | 93 | 102 | 92 |
| 2018 | 93 | 98 | 94 |
| 2017 | 95 | 100 | 98 |
| 2016 | 93 | 97 | 98 |
| 2015 | 95 | 97 | 93 |
| 2014 | 91 | 89 | 94 |
| 2013 | 92 | 96 | 94 |
| 2012 | 93 | 97 | 93 |
| 2011 | 97 | 107 | 100 |
| 2010 | 102 | 111 | 106 |
| 2009 | 101 | 110 | 110 |
| 2008 | 103 | 114 | 111 |
| 2007 | 111 | 124 | 116 |
| 2006 | 112 | 126 | 114 |
| 2005 | 120 | 123 | 113 |
| 2004 | 117 | 121 | 118 |
| 2003 | 117 | 119 | 117 |
| 2002 | 125 | 128 | 116 |
| 2001 | 131 | 134 | 113 |
| 2000 | 138 | 143 | 113 |
| 1999 | 140 | 147 | 112 |
| 1998 | 136 | 143 | 118 |
| 1997 | 134 | 149 | 116 |
| 1996 | 138 | 145 | 106 |
| 1995 | 131 | 143 | 108 |
| 1994 | 125 | 132 | 102 |
| 1993 | 117 | 123 | 94 |
| 1992 | 116 | 118 | 93 |
| 1991 | 119 | 121 | 83 |
| 1990 | 118 | 121 | 78 |
| 1989 | 106 | 110 | - |
| 1988 | 105 | 104 | - |
| 1987 | 106 | 113 | - |
Data sources: World Bank | Economy & Growth (1987–2024, retrieved 2026-04-06).
GeoRank.org/economy/turkmenistan | CC BY
Compared with 2000, in 2024 Turkmenistan is ranked 91st out of 182 by GDP (up from 138th), 98th by GDP per capita (up from 143rd), and 87th by GDP per capita PPP (up from 113th).
Economic indicators
Turkmenistan
|
Rank | |
|---|---|---|
| Gross domestic product |
$51.4B
2024 |
92/197 |
| GDP growth |
6.3%
2023-2024 |
19/194 |
| GDP per capita |
$6,857
2024 |
104/197 |
| GDP per capita, PPP |
$21,213
2024 |
94/197 |
| Government debt |
$2.11B
2024 |
156/185 |
| Debt-to-GDP ratio |
4.11%
2024 |
183/185 |
| Government debt per person |
$282
2024 |
179/185 |
| Average annual personal income after taxes |
$7,520
2026 |
87/197 |
| Income share by richest 10% |
31.5%
1998 |
40/169 |
| Income share by poorest 10% |
2.4%
1998 |
111/169 |
| Government expenditure, % of GDP |
14.5%
2024 |
183/195 |
| Consumer prices inflation |
4.6%
2023-2024 |
63/195 |
| Unemployment rate |
4%
2010 |
127/196 |
| Population |
7776557
|
104/197 |
Government spending, deficit, and debt by year
| Year | % of GDP | ||
|---|---|---|---|
| Government spending | Government debt | Government deficit/surplus | |
| 2024 | 14.5% | 4.11% | -0.08% |
| 2023 | 13.7% | 5.46% | 0.11% |
| 2022 | 13% | 7.14% | 3.38% |
| 2021 | 13.4% | 12.3% | 0.57% |
| 2020 | 13.5% | 15.4% | -0.16% |
| 2019 | 13.6% | 17.7% | -0.4% |
| 2018 | 13.7% | 22.5% | -0.22% |
| 2017 | 17.8% | 24.7% | -2.84% |
| 2016 | 14.1% | 21.1% | -2.38% |
| 2015 | 17.3% | 19% | -0.7% |
| 2014 | 17% | 16% | 0.89% |
| 2013 | 16.9% | 20.4% | 1.53% |
| 2012 | 14.7% | 17.9% | 7.53% |
| 2011 | 15.4% | 14.8% | 3.84% |
| 2010 | 14.6% | 7.04% | 2.13% |
| 2009 | 14.4% | 3.09% | 7.53% |
| 2008 | 11.7% | 3.56% | 10.7% |
| 2007 | 14.4% | 3.06% | 4.19% |
| 2006 | 16% | 4.23% | 5.64% |
| 2005 | 21.1% | 6.82% | 0.86% |
| 2004 | 20.3% | 11.4% | 1.47% |
| 2003 | 20.8% | 16.9% | 3.99% |
| 2002 | 19.4% | 24.2% | 0.19% |
| 2001 | 22.6% | 34.1% | 0.77% |
| 2000 | 25.9% | 55.1% | -0.55% |
| 1999 | 20.8% | 66.7% | 2.48% |
| 1998 | 26.1% | 81.6% | 1.15% |
| 1997 | 26.9% | 64.2% | -0.2% |
Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1997–2024, retrieved 2026-02-20).
GeoRank.org/economy/turkmenistan | CC BY
This chart shows Turkmenistan's government spending, budget balance, and debt over time, each expressed as a share of GDP.
Over the past 28 years, Turkmenistan recorded a fiscal deficit in 9 of them, with an average annual surplus equal to 1.84% of GDP. In 2024, government spending reached $7.46B (14.5% of GDP), with a deficit of 0.08%.
The national debt reached $2.11B, ranking 156th out of 185 countries by total size, with a debt-to-GDP ratio of 4.11%, ranking 183rd.
Inflation rate by year
| Year | Inflation |
|---|---|
| 2024 | 4.6% |
| 2023 | -1.6% |
| 2022 | 11.2% |
| 2021 | 19.5% |
| 2020 | 6.1% |
| 2019 | 5.1% |
| 2018 | 13.3% |
| 2017 | 8% |
| 2016 | 3.6% |
| 2015 | 7.4% |
| 2014 | 6% |
| 2013 | 6.8% |
| 2012 | 5.3% |
| 2011 | 5.3% |
| 2010 | 4.4% |
| 2009 | -2.7% |
| 2008 | 14.5% |
| 2007 | 6.3% |
| 2006 | 8.2% |
| 2005 | 10.7% |
| 2004 | 5.9% |
| 2003 | 5.6% |
| 2002 | 8.8% |
| 2001 | 11.6% |
| 2000 | 8% |
| 1999 | 23.5% |
| 1998 | 16.8% |
| 1997 | 83.7% |
| 1996 | 992% |
| 1995 | 1,005% |
| 1994 | 1,748% |
| 1993 | 3,102% |
Data sources: International Monetary Fund (IMF) | World Economic Outlook (1993–2024, retrieved 2026-02-20).
GeoRank.org/economy/turkmenistan | CC BY
Over the past 20 years, Turkmenistan has had an average annual inflation rate of 7.1%. In 2024, inflation was 4.6%. The bar chart above shows consumer price inflation by year.
Balance of trade
|
Turkmenistan
|
Rank | |
|---|---|---|
| Imports of goods and services, % of GDP |
11.2%
2024 |
179/181 |
| Exports of goods and services, % of GDP |
17.6%
2024 |
154/193 |
Turkmenistan top 10 trading partners
Turkmenistan's biggest trading partner accounting for 51.4% of all exports and imports is China, with a trade balance between the two of +$8.59B: Turkmenistan exports $9.62B worth of goods and services to China and imports $1.03B.
Below is the list of the top 10 trade partners of Turkmenistan.
| Rank | Country | Trade value | Share of total trade | Export to | Import from | Top export to | Top import from |
|---|---|---|---|---|---|---|---|
| 1 |
China
|
$10.6B | 51.4% | $9.62B | $1.03B | Raw materials & minerals | Machinery & equipment |
| 2 |
Turkey
|
$2.17B | 10.5% | $1.07B | $1.1B | Raw materials & minerals | Machinery & equipment |
| 3 |
Uzbekistan
|
$1.62B | 7.81% | $1.49B | $134M | Raw materials & minerals | Raw materials & minerals |
| 4 |
UAE
|
$1.02B | 4.94% | $16.1M | $1.01B | Raw agricultural goods | Machinery & equipment |
| 5 |
Russia
|
$866M | 4.18% | $141M | $725M | Textiles & consumer goods | Miscellaneous |
| 6 |
Kazakhstan
|
$556M | 2.68% | $221M | $335M | Raw materials & minerals | Machinery & equipment |
| 7 |
Iran
|
$501M | 2.41% | $38.4M | $462M | Raw materials & minerals | Metals |
| 8 |
Afghanistan
|
$411M | 1.98% | $410M | $899K | Raw materials & minerals | Processed food, beverages & tobacco |
| 9 |
Azerbaijan
|
$384M | 1.85% | $303M | $80.2M | Raw materials & minerals | Metals |
| 10 |
Greece
|
$324M | 1.56% | $317M | $6.93M | Raw materials & minerals | Raw materials & minerals |
Top 10 exports
|
Turkmenistan
|
Rank | |
|---|---|---|
| Raw materials & minerals | $13.5B | 48/193 |
| Textiles & consumer goods | $158M | 114/193 |
| Raw agricultural goods | $82.4M | 122/193 |
| Chemicals & pharma | $62.3M | 122/193 |
| Machinery & equipment | $19.4M | 158/193 |
| Metals | $10.1M | 153/192 |
| Processed food, beverages & tobacco | $9.96M | 162/192 |
| Animal & marine products | $9.43M | 152/192 |
| Miscellaneous | $4.4M | 119/191 |
| Precious metals & jewellery | $2.9M | 144/190 |
Top 10 imports
|
Turkmenistan
|
Rank | |
|---|---|---|
| Machinery & equipment | $1.84B | 125/193 |
| Chemicals & pharma | $513M | 133/193 |
| Metals | $507M | 121/193 |
| Textiles & consumer goods | $395M | 129/193 |
| Raw materials & minerals | $268M | 162/193 |
| Processed food, beverages & tobacco | $153M | 163/193 |
| Raw agricultural goods | $83.8M | 165/193 |
| Wood & paper products | $78.6M | 146/193 |
| Animal & marine products | $68.9M | 149/193 |
| Precious metals & jewellery | $28.3M | 104/193 |
Economic freedom indices
|
Turkmenistan
|
Rank | |
|---|---|---|
| Economic freedom | 47 | 177/197 |
| Property rights | 17.4 | 164/182 |
| Government integrity | 8.4 | 177/182 |
| Judicial effectiveness | 12.3 | 161/182 |
| Tax burden | 94.2 | 17/182 |
| Government spending | 94.3 | 8/180 |
| Fiscal health | 99.9 | 2/181 |
| Business freedom | 37.5 | 160/182 |
| Labor freedom | 29.3 | 179/182 |
| Monetary freedom | 76.7 | 58/180 |
| Trade freedom | 74.2 | 79/181 |
| Investment freedom | 10 | 173/181 |
| Financial freedom | 10 | 177/181 |
Economic freedom by year
| Year | Index | ||||
|---|---|---|---|---|---|
| Economic freedom | Judicial effectiveness | Tax burden | Government spending | Fiscal health | |
| 2026 | 47 | 12.3 | 94.2 | 94.3 | 99.9 |
| 2025 | 47.1 | 8.2 | 94.2 | 96.7 | 100 |
| 2024 | 46.3 | 10 | 94.3 | 96.7 | 99.9 |
| 2023 | 46.5 | 8.1 | 94.3 | 96.2 | 99.8 |
| 2022 | 46.2 | 8.3 | 92.6 | 94.5 | 98 |
| 2021 | 47.4 | 20 | 92.6 | 93.2 | 96.3 |
| 2020 | 46.5 | 20 | 95.9 | 93.1 | 94.5 |
| 2019 | 48.4 | 29.8 | 95.9 | 92 | 92.3 |
| 2018 | 47.1 | 5 | 95.9 | 92.2 | 98.6 |
| 2017 | 47.4 | 5 | 95.3 | 92.3 | 98.9 |
| 2016 | 41.9 | - | 95.3 | 92.2 | - |
| 2015 | 41.4 | - | 94 | 93.5 | - |
| 2014 | 42.2 | - | 95.2 | 93 | - |
| 2013 | 42.6 | - | 94 | 91.7 | - |
| 2012 | 43.8 | - | 98.4 | 93.5 | - |
| 2011 | 43.6 | - | 93.6 | 95.5 | - |
| 2010 | 42.5 | - | 90.2 | 94.7 | - |
| 2009 | 44.2 | - | 90.9 | 93.6 | - |
| 2008 | 43.4 | - | 90.6 | 85.3 | - |
| 2007 | 43 | - | 91.7 | 85.3 | - |
| 2006 | 43.8 | - | 90.8 | 88.7 | - |
| 2005 | 47.6 | - | 89.9 | 90.8 | - |
| 2004 | 50.7 | - | 89.9 | 80.8 | - |
| 2003 | 51.3 | - | 90.1 | 88.7 | - |
| 2002 | 43.2 | - | 85.1 | 81.3 | - |
| 2001 | 41.8 | - | 84.6 | 79.7 | - |
| 2000 | 37.6 | - | 83.3 | 79.7 | - |
| 1999 | 36.1 | - | 57.5 | 92.3 | - |
| 1998 | 35 | - | 56.2 | 84.1 | - |
Data sources: The Heritage Foundation | Economic Freedom Index (1998–2026, retrieved 2026-03-09).
GeoRank.org/economy/turkmenistan | CC BY
Turkmenistan is ranked 159/174 for economic freedom with a score of 47, compared to 153/162 and a score of 43.8 in 2006.
Other economic metrics
|
Turkmenistan
|
Rank | |
|---|---|---|
| Services, % of GDP |
50.4%
2024 |
131/191 |
| Industry, % of GDP |
37.5%
2024 |
23/194 |
| Agriculture, forestry, and fishing, % of GDP |
12.2%
2024 |
62/193 |
|
GNI, Atlas method
|
$48.8B
2024 |
93/194 |
| GNI per capita, PPP |
$21,020
2024 |
88/191 |
| Total reserves including gold |
$1.51B
1999 |
135/177 |
|
Net inflows of foreign direct investment
|
$1.64B
2024 |
78/193 |
|
Net outflows of foreign direct investment
|
$0
2024 |
165/193 |
|
Servicing debt to the IMF, % of GNI
|
1.91%
2024 |
94/121 |
| Poverty at national poverty lines |
0.2%
2020 |
175/176 |
|
Gross capital formation, % of GDP
|
47.2%
2012 |
1/178 |
Compare Turkmenistan vs other countries
GDP per capita map
Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).
GeoRank.org/economy/turkmenistan | CC BY
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Data sources:
- World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06)
- International Monetary Fund (IMF) | Fiscal Monitor (1997–2024, retrieved 2026-02-20)
- The Heritage Foundation | Economic Freedom Index (1998–2026, retrieved 2026-03-09)
- U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
- TradeMap (2024, retrieved 2026-02-08)
- Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)
- United Nations | World Population Prospects (2026, retrieved 2026-03-10)
- LivingCost (2026, retrieved 2025-10-14)
Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.
Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.
Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.
Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.
Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.
Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.