Economy of Turkmenistan

Turkmenistan is one of the world's fastest-growing economies. It is largely a desert country with intensive agriculture in irrigated areas, and huge gas and oil resources. In terms of natural gas reserves, it is ranked 4th in the world. Regarding agriculture, the two largest crops are cotton, most of which is produced for export, and wheat, which is domestically consumed. Turkmenistan is among the top ten producers of cotton in the world.From 1998 to 2005, Turkmenistan suffered from the continued lack of adequate export routes for natural gas and from obligations on extensive short-term external debt. At the same time, however, total exports rose by an average of roughly 15% per year from 2003 to 2008, largely because of higher international oil and gas prices. As in the Soviet era, centra

Economy of Turkmenistan

Turkmenistan is one of the world's fastest-growing economies. It is largely a desert country with intensive agriculture in irrigated areas, and huge gas and oil resources. In terms of natural gas reserves, it is ranked 4th in the world. Regarding agriculture, the two largest crops are cotton, most of which is produced for export, and wheat, which is domestically consumed. Turkmenistan is among the top ten producers of cotton in the world.From 1998 to 2005, Turkmenistan suffered from the continued lack of adequate export routes for natural gas and from obligations on extensive short-term external debt. At the same time, however, total exports rose by an average of roughly 15% per year from 2003 to 2008, largely because of higher international oil and gas prices. As in the Soviet era, centra