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Economy of Turkmenistan vs United Arab Emirates compared: GDP & Debt

Updated on by Georank team

Turkmenistan has a GDP of $51.4B compared to $552B for the United Arab Emirates, ranking 92/197 and 27/197 by economy size, respectively.

Turkmenistan has $2.11B in government debt (4.11% of GDP), compared to $193B (34.9% of GDP) in the United Arab Emirates.

Turkmenistan vs United Arab Emirates GDP by year

Turkmenistan
United Arab Emirates
1x
Year GDP, current $
Turkmenistan UAE
2024 $51,387,209,872 $552,324,846,835
2023 $45,894,538,666 $522,622,191,967
2022 $42,208,726,138 $511,403,403,676
2021 $40,589,905,812 $422,441,388,700
2020 $41,509,903,182 $357,161,878,829
2019 $40,810,067,975 $433,926,208,305
2018 $40,765,428,571 $440,560,108,918
2017 $37,926,285,714 $403,365,010,211
2016 $36,169,428,571 $381,717,086,453
2015 $35,799,714,286 $381,973,042,886
2014 $43,524,210,526 $424,935,874,745
2013 $39,197,543,860 $409,632,675,289
2012 $35,164,210,526 $392,793,464,942
2011 $29,233,333,333 $368,881,143,635
2010 $22,583,157,895 $307,736,419,333
2009 $20,214,385,965 $253,547,358,747
2008 $19,271,523,179 $315,474,615,739
2007 $12,664,165,103 $257,916,133,424
2006 $10,276,674,365 $222,116,541,865
2005 $8,103,901,996 $180,617,467,965
2004 $6,838,351,088 $147,824,370,320
2003 $5,977,440,583 $124,346,358,067
2002 $4,462,029,109 $109,816,201,498
2001 $3,534,772,732 $103,311,640,572
2000 $2,904,663,311 $104,337,372,362
1999 $2,450,564,100 $84,445,473,111
1998 $2,605,689,134 $75,674,336,283
1997 $2,450,350,625 $78,839,008,445
1996 $2,378,759,975 $73,571,233,996
1995 $2,482,228,440 $65,743,666,576
1994 $2,561,118,608 $59,305,093,980
1993 $3,179,225,949 $55,625,170,253
1992 $3,200,539,816 $54,239,171,888
1991 $3,208,098,919 $51,552,165,622
1990 $3,189,539,641 $50,701,443,748
1989 $3,006,988,217 $41,464,995,914
1988 $3,010,982,414 $36,275,674,203
1987 $2,331,358,820 $36,384,908,744
1986 - $33,943,612,095
1985 - $40,603,650,232
1984 - $41,807,954,236
1983 - $42,803,323,345
1982 - $46,622,718,605
1981 - $49,333,424,135
1980 - $43,599,160,050
1979 - $31,225,659,621
1978 - $23,775,764,225
1977 - $24,871,775,165
1976 - $19,213,158,779
1975 - $14,720,728,249
1974 - $11,651,505,689
1973 - $4,231,243,616
1972 - $1,415,086,929
1971 - $939,893,600
1970 - $685,986,701

Data sources: World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06).

GeoRank.org/economy/turkmenistan/united-arab-emirates | CC BY

GDP per capita in Turkmenistan vs United Arab Emirates by year

Turkmenistan
GDP per capita

GDP per capita, PPP
United Arab Emirates
GDP per capita

GDP per capita, PPP
1x
Year Current $
Turkmenistan UAE
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,857 $21,213 $50,274 $79,229
2023 $6,232 $19,829 $49,851 $77,955
2022 $5,838 $18,340 $50,760 $75,072
2021 $5,723 $16,434 $44,119 $68,580
2020 $5,973 $15,091 $37,992 $66,791
2019 $5,998 $15,478 $45,939 $79,816
2018 $6,125 $14,368 $47,135 $77,446
2017 $5,828 $13,278 $43,734 $70,282
2016 $5,687 $12,919 $42,721 $69,987
2015 $5,759 $12,715 $44,910 $73,986
2014 $7,164 $12,477 $52,725 $87,478
2013 $6,600 $11,723 $53,247 $87,526
2012 $6,054 $11,035 $53,142 $89,198
2011 $5,144 $10,283 $51,922 $89,665
2010 $4,059 $8,972 $44,795 $85,120
2009 $3,708 $8,285 $37,803 $84,780
2008 $3,606 $7,916 $50,054 $94,628
2007 $2,415 $6,901 $45,855 $100,813
2006 $1,997 $6,164 $44,343 $106,814
2005 $1,604 $5,489 $38,719 $101,301
2004 $1,379 $4,798 $33,377 $98,661
2003 $1,229 $4,536 $29,660 $92,636
2002 $936 $4,393 $27,754 $88,467
2001 $756 $4,401 $27,745 $90,370
2000 $634 $4,209 $29,866 $92,899
1999 $546 $3,981 $25,856 $87,658
1998 $591 $3,432 $24,889 $90,229
1997 $565 $3,222 $27,983 $96,009
1996 $558 $3,636 $28,323 $94,620
1995 $592 $3,405 $27,003 $93,702
1994 $622 $3,659 $25,473 $89,959
1993 $788 $4,422 $25,033 $86,330
1992 $811 $4,351 $25,648 $87,509
1991 $832 $5,117 $25,691 $87,250
1990 $848 $5,321 $26,710 $88,455
1989 $821 - $23,167 -
1988 $846 - $21,570 -
1987 $675 - $23,113 -
1986 - - $23,132 -
1985 - - $29,468 -
1984 - - $32,012 -
1983 - - $34,650 -
1982 - - $39,972 -
1981 - - $44,854 -
1980 - - $42,925 -
1979 - - $34,238 -
1978 - - $29,379 -
1977 - - $35,020 -
1976 - - $31,197 -
1975 - - $27,117 -
1974 - - $23,823 -
1973 - - $9,696 -
1972 - - $3,675 -
1971 - - $2,805 -
1970 - - $2,394 -

Data sources: World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06).

GeoRank.org/economy/turkmenistan/united-arab-emirates | CC BY

Turkmenistan's GDP per capita is $6,857, ranking 104/197, compared to $50,274 in the United Arab Emirates, ranking 24/197. Adjusted for purchasing power (GDP per capita PPP), Turkmenistan ranks 94th at $21,213, while the United Arab Emirates ranks 16th at $79,229.

Economic indicators

Turkmenistan UAE
Gross domestic product
$51.4B
2024
$552B
2024
GDP rank
92/197
2024
27/197
2024
GDP growth
6.3%
2023-2024
3.99%
2023-2024
GDP per capita
$6,857
2024
$50,274
2024
GDP per capita rank
104/197
2024
24/197
2024
GDP per capita, PPP
$21,213
2024
$79,229
2024
GDP per capita PPP rank
94/197
2024
16/197
2024
Government debt
$2.11B
2024
$193B
2024
Debt-to-GDP ratio
4.11%
2024
34.9%
2024
Government debt per person
$282
2024
$17,568
2024
Government debt per person rank
179/185
2024
36/185
2024
Average annual personal income after taxes
$7,520
2026
$40,522
2026
Market capitalization of domestic companies n/a
$1.05T
2024
Number of millionaires n/a
339,000
2025
Number of billionaires n/a
6
2025
Income share by richest 10%
31.5%
1998
20.5%
2018
Income share by poorest 10%
2.4%
1998
2.8%
2018
Government expenditure, % of GDP
14.5%
2024
21.4%
2024
Consumer prices inflation
4.6%
2023-2024
1.7%
2023-2024
Central bank interest rate n/a
3.65%
2025
Unemployment rate
4%
2010
1.88%
2024
Population
7776557
11686438

Spending and national debt comparison by year

Turkmenistan
Spending

Debt
United Arab Emirates
Spending

Debt
1x
Year % of GDP
Turkmenistan UAE
Government spending Government debt Government spending Government debt
2024 14.5% 4.11% 21.4% 34.9%
2023 13.7% 5.46% 22.7% 31.9%
2022 13% 7.14% 22.7% 31.5%
2021 13.4% 12.3% 25.9% 35.7%
2020 13.5% 15.4% 30.5% 30.1%
2019 13.6% 17.7% 27.4% 25.8%
2018 13.7% 22.5% 25.9% 20.7%
2017 17.8% 24.7% 27.2% 21.2%
2016 14.1% 21.1% 31.7% 18.6%
2015 17.3% 19% 26.4% 15.6%
2014 17% 16% 31.4% 13.5%
2013 16.9% 20.4% 28.9% 15.3%
2012 14.7% 17.9% 27.8% 20.2%
2011 15.4% 14.8% 29.6% 20.4%
2010 14.6% 7.04% 30.4% 18.3%
2009 14.4% 3.09% 35% 21.1%
2008 11.7% 3.56% 22% 8.95%
2007 14.4% 3.06% 17.7% 8.89%
2006 16% 4.23% 15.6% 5.05%
2005 21.1% 6.82% 15.7% 4.48%
2004 20.3% 11.4% 17.7% 4.08%
2003 20.8% 16.9% 20% 3.33%
2002 19.4% 24.2% 21.3% 3.43%
2001 22.6% 34.1% 25.2% 2.69%
2000 25.9% 55.1% 21.8% 3.12%
1999 20.8% 66.7% 24.3% 4.73%
1998 26.1% 81.6% 25.8% 4.18%
1997 26.9% 64.2% 22.6% 2.86%
1996 - - 27.6% 3.48%
1995 - - 26.1% 5.06%
1994 - - 30.1% 5.58%
1993 - - 31.5% 6.01%
1992 - - 29.6% 5.31%
1991 - - 36% 4.97%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1991–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1991–1998, retrieved 2026-02-20).

GeoRank.org/economy/turkmenistan/united-arab-emirates | CC BY

In 2024, Turkmenistan's government spending was $7.46B, accounting for 14.5% of its GDP, while the United Arab Emirates spent $118B, or 21.4% of GDP.

Debt-to-GDP ratio is 4.11% in Turkmenistan and 34.9% in the United Arab Emirates, ranking 183/185 and 146/185, respectively.

Government deficit by year

Deficit/surplus
Turkmenistan

United Arab Emirates
1x
Year Deficit/surplus, % of GDP
Turkmenistan UAE
2024 -0.08% 6.41%
2023 0.11% 5.82%
2022 3.38% 9.8%
2021 0.57% 3.96%
2020 -0.16% -2.42%
2019 -0.4% 2.5%
2018 -0.22% 3.65%
2017 -2.84% -0.16%
2016 -2.38% -2.95%
2015 -0.7% -6.35%
2014 0.89% 1.74%
2013 1.53% 7.99%
2012 7.53% 8.59%
2011 3.84% 5.05%
2010 2.13% 0.52%
2009 7.53% -6.13%
2008 10.7% 17.6%
2007 4.19% 17.1%
2006 5.64% 20.2%
2005 0.86% 16%
2004 1.47% 6.4%
2003 3.99% 2.35%
2002 0.19% -1.24%
2001 0.77% 1.21%
2000 -0.55% 10.7%
1999 2.48% 1.31%
1998 1.15% 1%
1997 -0.2% 6.71%
1996 - 0.92%
1995 - 3.58%
1994 - -1.78%
1993 - -2.89%
1992 - 3.34%
1991 - 3.89%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1991–2024, retrieved 2026-02-20).

GeoRank.org/economy/turkmenistan/united-arab-emirates | CC BY

In 2024, Turkmenistan's government deficit, the difference between spending and revenue, was $42.9M, equivalent to 0.08% of GDP. This compares to the United Arab Emirates' surplus of $35.4B, or 6.41% of GDP.

Over the past 28 years, Turkmenistan recorded a fiscal deficit in 9 of those years, while the United Arab Emirates ran a deficit in 6 years. On average, Turkmenistan posted an annual surplus equal to 1.84% of GDP, compared to surplus of 4.9% of GDP for the United Arab Emirates.

Inflation comparison by year

Inflation
Turkmenistan

United Arab Emirates
1x
Year Consumer prices inflation
Turkmenistan UAE
2024 4.6% 1.7%
2023 -1.6% 1.6%
2022 11.2% 4.8%
2021 19.5% -0.1%
2020 6.1% -2.1%
2019 5.1% -1.9%
2018 13.3% 3.1%
2017 8% 2%
2016 3.6% 1.6%
2015 7.4% 4.1%
2014 6% 2.3%
2013 6.8% 1.1%
2012 5.3% 0.7%
2011 5.3% 0.9%
2010 4.4% 0.9%
2009 -2.7% -4.7%
2008 14.5% 12.3%
2007 6.3% 11.1%
2006 8.2% 9.3%
2005 10.7% 6.2%
2004 5.9% 5%
2003 5.6% 3.1%
2002 8.8% 2.9%
2001 11.6% 2.8%
2000 8% 1.3%
1999 23.5% 2.1%
1998 16.8% 2%
1997 83.7% 3%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20).

GeoRank.org/economy/turkmenistan/united-arab-emirates | CC BY

Over the past 28 years, Turkmenistan has recorded an average annual inflation rate of 10.9%, compared with 2.75% in the United Arab Emirates. In 2024, inflation was 4.6% in Turkmenistan and 1.7% in the United Arab Emirates.

Top exports between countries

Turkmenistan
Export category Export value
Raw agricultural goods $9.36M
Raw materials & minerals $1.95M
Machinery & equipment $1.53M
Textiles & consumer goods $1.21M
Chemicals & pharma $1.01M
Processed food, beverages & tobacco $672K
Precious metals & jewellery $118K
Animal & marine products $97K
Metals $65K
Wood & paper products $46K
UAE
Export category Export value
Machinery & equipment $843M
Chemicals & pharma $45M
Processed food, beverages & tobacco $31.5M
Textiles & consumer goods $28.8M
Metals $17.8M
Raw materials & minerals $14.2M
Raw agricultural goods $7.93M
Wood & paper products $7.7M
Miscellaneous $5.78M
Animal & marine products $4.62M

Balance of trade

Turkmenistan UAE
Current account balance n/a
$80B
2024
Current account balance ranking n/a
9/190
2024
Current account balance, % of GDP n/a
+14.5%
2024
Goods imports n/a
$400B
2024
Goods exports n/a
$467B
2024
Service imports n/a
$117B
2024
Service exports n/a
$181B
2024
Imports of goods and services, % of GDP
11.2%
2024
92.2%
2023
Exports of goods and services, % of GDP
17.6%
2024
106.8%
2023

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Turkmenistan UAE
Economic freedom 47 71.9
Economic freedom ranking 177/197 29/197
Property rights 17.4 62.9
Government integrity 8.4 65.3
Judicial effectiveness 12.3 34.4
Tax burden 94.2 99.9
Government spending 94.3 85.1
Fiscal health 99.9 97.6
Business freedom 37.5 84.5
Labor freedom 29.3 63.2
Monetary freedom 76.7 81.2
Trade freedom 74.2 78.6
Investment freedom 10 50
Financial freedom 10 60

Economic freedom comparison by year

Turkmenistan
United Arab Emirates
1x
Year Economic freedom index
Turkmenistan UAE
2026 47 71.9
2025 47.1 71.6
2024 46.3 71.1
2023 46.5 70.9
2022 46.2 70.2
2021 47.4 76.9
2020 46.5 76.2
2019 48.4 77.6
2018 47.1 77.6
2017 47.4 76.9
2016 41.9 72.6
2015 41.4 72.4
2014 42.2 71.4
2013 42.6 71.1
2012 43.8 69.3
2011 43.6 67.8
2010 42.5 67.3
2009 44.2 64.7
2008 43.4 62.6
2007 43 62.6
2006 43.8 62.2
2005 47.6 65.2
2004 50.7 67.2
2003 51.3 73.4
2002 43.2 73.6
2001 41.8 74.9
2000 37.6 74.2
1999 36.1 71.5
1998 35 72.2
1997 - 71.9
1996 - 71.6

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09).

GeoRank.org/economy/turkmenistan/united-arab-emirates | CC BY

The Economic Freedom Index for Turkmenistan is 47, ranking 177/197, compared to 71.9 for the United Arab Emirates, ranking 29/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Turkmenistan UAE
Services, % of GDP
50.4%
2024
54.9%
2024
Industry, % of GDP
37.5%
2024
44.3%
2024
Agriculture, forestry, and fishing, % of GDP
12.2%
2024
0.77%
2024
GNI, Atlas method
$48.8B
2024
$566B
2024
GNI per capita, PPP
$21,020
2024
$81,530
2024
Total reserves including gold
$1.51B
1999
$238B
2024
Total reserves ranking
135/177
1999
14/177
2024
Net foreign direct investment n/a
$31.5B
2024
Net inflows of foreign direct investment
$1.64B
2024
$45.6B
2024
Net outflows of foreign direct investment
$0
2024
$77.2B
2024
Servicing debt to the IMF, % of GNI
1.91%
2024
n/a
Poverty at national poverty lines
0.2%
2020
19.5%
2020
Gross capital formation, % of GDP
47.2%
2012
26.6%
2023

GDP per capita map

1x

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/united-arab-emirates | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1991–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2023, retrieved 2026-02-08)
  6. International Monetary Fund (IMF) | Public Finances in Modern History (1991–1998, retrieved 2026-02-20)
  7. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)
  8. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  9. 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.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

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.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

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.