Turkmen Private Sector Continues to Grow

BUSINESS TURKMENISTAN
Turkmen Private Sector Continues to Grow
The volume of trade turnover in the non-state sector of Turkmen economy increased in the first quarter by 19.2%.

In January-March 2021, the Turkmen private sector increased its production of plastic and fiberglass pipes 2.3 times compared to the first quarter of last year, the Union of Industrialists and Entrepreneurs of Turkmenistan (UIET) reported on its website on Saturday with reference to the State Statistics Committee of Turkmenistan.

Significant growth was also recorded in the non-state sector of the agro-industrial complex and the food industry, including in production of cereals (139.7%), butter (47.3%), mineral waters and soft drinks (45.9%), sausages (26.4%), confectionery (14.7%), whole milk products (13.5%).

The private sector also increased its production of garments and knitwear by 2.7% and silk fabrics by 2.2%.

Presently, private businesses account for 93.3% of retail trade in the country. At the same time, the volume of trade turnover in the non-state sector increased in the first quarter by 19.2%.

While most of this volume in monetary terms falls on the capital, the country’s Mary velayat also showed good growth in this indicator in the first three months of the year – more than 20%.