The evaluation of trading outcomes carried out at the State Commodity and Raw Materials Exchange of Turkmenistan (SCRMET) at the conclusion of August enables us to gauge the economic prowess of the country and its standing in the global trading sphere. In August, the exchange transactions encompassed various sectors, ranging from energy to textiles.
The following offers a summary and economic evaluation of trade deals at the exchange that took place in August:
Motor fuel:
During the trades held at the SCRMET in August, motor fuel emerged as one of the highly sought-after commodity. Specifically, a total of 100 thousand tons of ECO-93 and A-92 motor gasoline were successfully sold during the exchange trades. Within the month, 50 thousand tons of ECO-93 motor gasoline were sold for a value of $37 million, while 50 thousand tons of A-92 motor gasoline were sold for a sum of $37 million. These figures highlight the effectiveness of petrochemical product trading in Turkmenistan and the significant demand for such products from foreign buyers.
Polypropylene:
Polypropylene was also among the highly traded products at the SCRMET in August. The total quantity of polypropylene TPP D 30 S sold reached 12 thousand tons, totaling $12 million. This figure holds significant importance as it reflects the industrial capabilities of the country and its position within the global market.
Textile products:
Textile goods held a prominent position within Turkmenistan's trade portfolio. The collective value of various textile products, including yarn, cotton products, cotton fabric, and regenerated fiber, reached a total of $17 million. This evidence explicitly showcases the high quality of textile products manufactured within Turkmenistan's textile industry, underscoring its noteworthy role in foreign trade.
Total value of exchange trades in August:
During August, the volume of trade transactions at the SCRMET experienced a notable increase, leading to a total value of realized transactions exceeding $207 million. This substantial figure serves as a confirmation of the country's economic robustness and its advantageous position within the international trade sphere. The expansion of trade volumes significantly contributes to the ongoing development of Turkmenistan's economy.
Consequently, August emerged as one of the most productive months in terms of trade activity at the SCRMET. The wide range of trade transactions encompassing petrochemicals and textiles exemplify the country's economic diversification, its potential for industrial production, and its formidable standing in global trade. This heightened level of trade activity signifies the continuous growth of Turkmenistan's economic advancement and the ongoing prospects for further trade opportunities.
Nurmyrat Mommayev,
PhD Candidate at Marmara University's Department of Political Science and International Relations in Istanbul, Türkiye
