GDP per capita, current US$ 7,065. GDP per capita is gross domestic product divided by midyear population. The latest comprehensive information for - Turkmenistan GDP per capita - including latest news, historical data table, charts and more. A second wave of the pandemic in the Western Balkans since mid-June and political uncertainty about elections in some countries have further impeded economic recovery. World Bank national accounts data, and OECD National Accounts data files. In practice, they are usually computed among large numbers of countries and expressed in terms of a single currency, with the U.S. dollar (US$) most commonly used as the base or “numeraire” currency. Where infections surge and lockdowns are required, economic policy should continue to cushion household income losses with well targeted measures, as well as provide support to firms suffering the consequences of mandated restrictions on activity. 1992 - 2025 | Yearly | PPP Intl $ | World Economic Outlook. Our website uses cookies to improve your online experience. COVID-19 and containment measures will halt poverty reduction and welfare improvements in the Western Balkans, with the crisis likely to affect household welfare, mainly through fewer jobs and loss of labor income in the most affected sectors, as well as lower international remittances. In 2011 the growth rate came up to 9%. GDP per capita of Turkmenistan increased from 1,109 US dollars in 2000 to 7,816 US dollars in 2019 growing at an average annual rate of 11.89%. Looking ahead, Turkmenistan’s GDP PPP Per Capita is projected to stand at 22,134.892 PPP Intl $ in Dec 2025. Global data and statistics, research and publications, and topics in poverty and development. Turkmenistan’s external position reversed in 2018: the current account recorded a surplus of 5.7 percent of GDP from a deficit of 10.3 percent of GDP in 2017. Turkmenistan gdp per capita for 2017 was $6,587, a 3.09% increase from 2016. To learn more about cookies, click here. GDP per capita, PPP (current international $), GDP per capita, PPP (constant 2017 international $), International Comparison Program & Purchasing Power Parity, International Household Survey Network (IHSN), Trust Fund for Statistical Capacity Building. Confirmed and recovered cases, deaths, alternative data on economic activities, customer behavior, supply chains, and more. Trade in the region will be affected by the combination of a supply side shock, largely through global value chains, and a demand side shock, due to recessions in Our Insights blog presents deep data-driven analysis and visual content on important global issues from the expert data team at Knoema. These include more effective public spending and better management of public investments; rebuilding fiscal space by heightening tax compliance, greater efficiency in spending, and new fiscal instruments, such as green taxes and digital taxation; building strong,  independent, and accountable institutions; and committed adherence to the rule of law. Despite the growth of the private sector’s share in segments of the economy, public sector and state-owned monopolies continue to govern the economy and the formal labor market. Turkmenistan does not release official statistics on living standards, and little is known about the country’s labor market. Curated by Knoema’s data analysts to deliver leading short-term and long-term indicators and forecasts from trusted sources for each of the covered industries. To support firms, Western Balkan governments need to crowd in private financing (debt or equity) to facilitate hard investments by firms; and shift the focus of scarce government resources more towards facilitating soft investments. It has shown robust growth, rising by 4% per year between 1998 and 2003, and accelerating thereafter to 7%-8% per year. Thank you for participating in this survey! All countries in the region have moved to support enterprises to retain jobs and protect unemployed and as the recovery phase starts, authorities there should not lose sight of addressing longer-term challenges. In 2019, GDP per capita for Turkmenistan was 7,816 US dollars. The Government will seek fiscal consolidation in the medium term to rebuild depleted policy buffers. Turkmenistan - Русский; Tuvalu ... countries have already put forward massive economic packages in 2020—deficits will increase from 4 to 10 percent of GDP for most countries. The crisis interrupted, and in some cases reversed, this process. The extent of the recovery is far from risk-free. By June, the unemployment rate in the region rose by 0.5 pp, and 139,000 jobs were lost. Environmental and Social Policies for Projects, Avian Influenza Control and Human Pandemic Preparedness and Response Project, Country Engagement Note for the period 2016-2017, Snapshot: World Bank Program in Turkmenistan (PDF), Country Engagement Note for the Period 2016-2017. Financial sector vulnerabilities have more impact on emerging markets like the Western Balkans - whose financial systems are less prepared to weather shocks. Country-specific chapters: Albania | BiH | Kosovo | North Macedonia | Montenegro | Serbia, COVID-19’s Impacts in the Western Balkans. The total employment impact of the COVID-19 pandemic is expected to be unprecedented and broad-based in the Western Balkans, with 40 percent of the 2019 unemployment reduction gains lost by April 2020. Going forward, all countries should ensure that their health care systems are adequately resourced. In 2019, GDP per capita based on PPP for Turkmenistan was 20,411 international dollars. The primary causes are the drop in both domestic and foreign demand, and disruptions in supply chains due to imposed containment measures, such as lockdowns. Government measures contained the labor market fallout and helped prevent larger spikes in poverty. There is no data available for your selected dates. Following the Government’s decision to discontinue the free provision of water, natural gas, electricity, and salt, the authorities eliminated budget subsidies for utilities, which also negatively impacted domestic demand. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). Leverage our AI Workflow Tools and online data environment to manipulate, visualize, present, and export data. Find Out, Online tool for visualization and analysis. We face big challenges to help the world’s poorest people and ensure that everyone sees benefits from economic growth. Firms should prioritize restructuring their operations and logistics chains to make them more resilient to future shocks; accelerating digitalization throughout value generation chains; increasing the efficiency of investment and operational costs; and speeding up development of new products and services to respond to the rapid changes in demand from their clients. The COVID-19 pandemic is affecting labor markets and people’s employment opportunities across the Western Balkans and countries are stepping up their support to affected households. The World Bank Group works in every major area of development. Many of those who could become impoverished because of the COVID-19 crisis will not receive social protection unless programs are expanded and informal workers without access to unemployment insurance and other support to the formal economy are particularly at risk. Turkmenistan GDP per capita | 1987-2018 Data | 2019-2020 Forecast | Historical | Chart. Turkmenistan is located at the center of the Eurasian continent and has been classified as an upper-middle-income country since 2012.

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