Turkmenistan presents a significant and growing potential for imports from Turkey, driven by several factors:
Strong Existing Trade Relationship
- Major Import Partner: Turkey is already a leading import origin for Turkmenistan, consistently ranking among its top partners (e.g., 33.3% in 2023, and 28.2% in 2021). This indicates established trade channels and a preference for Turkish goods.
- Growing Trade Volume: In March 2025, Turkey’s exports to Turkmenistan increased by 35.6% year-on-year, reaching $89.6 million. This positive growth trend signifies increasing demand and opportunities.
- Bilateral Targets: Both countries aim to significantly increase their bilateral trade turnover, with Turkey targeting $5 billion, more than doubling the $2.2 billion reached in 2024. This shared ambition creates a favorable environment for import growth.
Turkmenistan’s Economic Context and Import Needs
- Government-led Investment: Turkmenistan’s economy is experiencing solid growth (projected 6.3% in 2024 and 2025), largely driven by government-led investment in modernizing and developing social and industrial infrastructure. This creates demand for a wide range of goods and equipment.
- Diversification Efforts: While heavily reliant on natural gas exports, Turkmenistan is making efforts to diversify its economy, including investments in agriculture and textile industries. This opens doors for imports related to these sectors.
- Infrastructure Development: Significant infrastructure improvements, particularly in transportation, have doubled cargo and passenger transport in the first half of 2024. This suggests a continued need for construction materials, machinery, and related equipment.
- “Single Window” for Trade: The launch of a “single digital window” for export-import operations in July 2024 aims to streamline procedures and boost foreign trade, making it easier for Turkish businesses to export.
Key Product Categories with High Potential for Turkish Exports
Based on current trade data and Turkmenistan’s development priorities, the most promising categories for Turkish imports are:
- Machinery, Nuclear Reactors, and Boilers: Consistently the top export from Turkey to Turkmenistan, this category reflects Turkmenistan’s ongoing industrial development and infrastructure projects.
- Electrical and Electronic Equipment: Essential for modernizing infrastructure and industries.
- Articles of Iron or Steel & Iron Structures: Crucial for construction and heavy industry projects.
- Plastics and Plastic Products: Used in various industries, packaging, and consumer goods.
- Furniture, Lighting, and Prefabricated Buildings: Driven by construction and urban development.
- Vehicles and Parts: As Turkmenistan’s economy grows, so does the demand for transportation.
- Miscellaneous Chemical Products: Wide application across industries.
- Textiles and Apparel: While Turkmenistan has its own textile industry, there’s still demand for various finished textile products and potentially specialized fabrics.
- Pharmaceutical Products: A constant need for medical supplies.
- Food Products: Turkmenistan imports a variety of food items, presenting opportunities for Turkish agricultural and processed food exporters. This includes fruits, vegetables, and processed foods.
- Soaps, Lubricants, and Waxes: Everyday consumer and industrial goods.
- Building Materials (e.g., Stone, Plaster, Cement): As construction continues, demand for these materials remains strong.
Challenges and Considerations
- State-Controlled Economy: Turkmenistan’s economy is highly state-controlled, with limited private sector development. This means that government procurement and large-scale projects often drive import decisions.
- Non-Tariff Barriers: While tariffs are relatively low, non-tariff barriers can still hinder trade. Understanding and navigating these regulations is crucial.
- Currency Convertibility: The significant gap between official and parallel exchange rates can pose challenges for foreign exchange access for businesses.
- Competition: Turkey faces competition from other major import partners like China, Russia, and Germany.
Conclusion
The potential for imports from Turkey to Turkmenistan is substantial and growing. Turkey’s expertise in manufacturing, construction, and a wide range of consumer goods aligns well with Turkmenistan’s development priorities and import needs. Businesses looking to expand into Turkmenistan should focus on sectors related to infrastructure, industrial modernization, and consumer goods, while also being aware of the nuances of doing business in a state-controlled economy. The ongoing efforts to streamline trade procedures and the strong bilateral commitment to increasing trade further enhance this potential.