Apr 22, 2024 (MENAFN via COMTEX) --
(MENAFN - Trend News Agency) ASHGABAT, Turkmenistan, April 22. The AsianDevelopment Bank (ADB) notes growth in all sectors ofTurkmenistan's economy, adding that industry was the main driver ofgrowth, Trend reports.
According to the bank, Turkmenistan's industrial sector grew by4.3 percent last year, while gas production jumped by 3 percent to80.6 billion cubic meters.
"Expansion in industry also benefited from higher output ofcrude oil, oil products, chemicals, and electricity, along withgains in construction and manufacturing. This included increases infood processing, building materials, and textiles produced mostlyunder import substitution programs," the bank notes.
Furthermore, ADB emphasizes that Turkmenistan's agriculture grewby 4.4 percent in 2023 due to the achievement of targets for cottonand wheat production, as well as the expansion of fruit andvegetable production for domestic and foreign markets.
"Services expanded by nearly 9 percent, with increases of 8.4percent in transportation (including international air and railservices) and communication, 12.8 percent in trade and catering,and 5.1 percent in other services," the bank added.
Meanwhile, President of Turkmenistan Serdar Berdimuhamedovrecently noted that the GDP growth rate of Turkmenistan fromJanuary through March 2024 remained stable at 6.3 percent.
The President added that during the specified period, the growthrate of Turkmenistan's industrial sector reached 4.7 percent, inthe transport and communications sector, 6.6 percent, in theservice sector, 7.6 percent, in trade, 8.2 percent, and inagriculture, 4.1 percent.
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COMTEX_451238898/2604/2024-04-22T14:21:13
