Turkmenistan earned $5.4 billion from exports in 2022

Turkmenistan earned $5.4 billion from exports in 2022

The positive balance of Turkmenistan's foreign trade turnover for 2022 amounted to $5.4 billion, and the total turnover reached $20 billion, the Daryo news agency reports, citing representatives of the Turkmen Ministry of Finance.

The balance is the difference between cash receipts and expenditures for a certain period of time. Thus, the positive balance of the country in the total turnover can be called a profit from exports.

In 2021, the trade surplus was just over $2.6 billion. This means that the volume of the surplus for the year increased by $2.8 billion or 107.7%.

In 2022, Turkmenistan exported products worth $12.7 billion, 80% of which came from the supply of energy carriers. Total exports of natural gas last year increased by 60% compared to 2021, and electricity by 30%.

Imports in 2022 amounted to $7.3 billion.

Such a sharp economic leap is explained by the diversification of hydrocarbon supplies, an increase in the production of high-value-added products and the rapid development of export-oriented industries.