Arzuw NEWS - Turkmenistan news

Turkmenistan has significantly increased exports and import substitution

In recent years, Turkmenistan has demonstrated a significant increase in exports and import substitution due to state support for individual entrepreneurship. Even the challenges of 2020 have not stopped the growth of supplies in a number of categories of goods. And the approval by Gurbanguly Berdimuhamedov of the state program aimed at increasing exports and import substitution in Turkmenistan was an important step on the way to achieving such results. These documents provided for the implementation of 114 promising projects.

In 2015, the country's government instructed state banks to promote export-oriented and import-substituting private entrepreneurship through preferential lending. As a result, many large enterprises emerged in the country, whose products are worthy competitors to foreign counterparts. As for import substitution, at present 70% of the assortment in the counters of almost all Turkmen stores is comprised of domestic products.

For example, plastic products, the production of which has recently been established in Turkmenistan, are gradually replacing similar foreign-made products. Even toys will soon be made "at home" rather than imported from abroad.

The State Statistics Committee of Turkmenistan, comparing the results of 2020 with 2019, noted an impressive increase in exports for a number of items. For example, last year plastic products intended for packaging and transportation of goods were delivered abroad in the amount of 3927.7 tons, which is 485.2% more than in 2019.

The country also increased exports of tubes, hoses and pipes produced by Turkmen enterprises working with polymer plastics by 104.41 tons, which totaled 14,653.7 tons in the past year. The commissioning of a polymer production complex in 2018 greatly contributed to this. This enterprise, which operates in the Balkan Velayat, is the largest in the Central Asian region.

But it is not only new industries for Turkmenistan that are showing such incredible growth. Traditional agricultural products are also able to surprise. In 2020 alone, 37,750.1 tons of tomatoes were supplied abroad. If we compare this figure with the 2015 data, we can see just a fantastic result - 2,501.6%. The government support of entrepreneurs working in the agricultural sector contributed to this in no small measure. And the development of greenhouses allows workers of the land to implement even the most incredible plans to grow not only traditional vegetables, but also exotic fruits. For example, bananas.

It is expected that this year the production of consumer electronics will also grow, which will displace foreign counterparts from the domestic market.


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