Trade surplus of Turkmenistan rose more than two times in 9 months
Trade surplus of Turkmenistan totaled US $ 1, 187, 9 bln in 9 months of 2005, more than doubling compared to the surplus of US $ 501 million reported for the same period of last year.
In total, foreign trade turnover rose 16,9% year-on-year to US $ 6,200,1 bln in January-September. At the same time, exports grew to US $ 3.694 bln and imports rose to US $ 2.506,1 billion year-on-year. According to the National Institute of State Statistics and Information (Turkmenmillihasabat), Turkmenistan traded with 82 countries in nine months. The biggest surplus was reported in trade with Ukraine, Iran and Italy.
Trade with the CIS rose 17.1% year-on-year. At the same time, exports to CIS grew 38,5% while imports fell 13,3%. Trade surplus with CIS amounted to US $ 943,1 mln, up US $ 582,9 mln on the last year.
Trade turnover with non-CIS countries grew 16.8%, including exports (19,1%) and imports (14,2%). Trade surplus with non-CIS countries made up US $ 244,8 mln, US $ 104 mln more than in the same period of the last year.
Turkmenistan's exports totaled US $ 3,694 bln in January-September 2005, up 27,3% year-on-year. In the commodity composition of exports, the share of crude oil increased from 7 to 9,7 %, and oil products from 26 to 27,2%.
In the reported period, exports of Turkmen natural gas grew 8,1% in physical terms and 26% in money terms due to the 16,6% hike in average export price. Ukraine (74,8%), Iran (10%) and Russia (6,6%) remain the main consumers of Turkmen natural gas. Crude oil as well as oil products were exported primarily to Iran (43,1%) and Italy (20,5%).
In the nine months of 2005, foreign currency operations in payments for export of goods accounted for 63,4%, of which 97,7% come as foreign currency payments and the remaining 2,3% as payments for commercial credit. Clearing payments for exported goods stood at 13,2%, payments in national currency - 4,8%. Supplies of goods under another export commercial operations totaled 15,7%, in which the major share of payments came as dividends on investments (63,3%) and supply of goods as payments for foreign investments (29,9%).
Turkmenistan exported to 52 countries. As before, Ukraine occupies the leading place, followed by Iran and Italy.
Turkmenistan's imports rose 4,4% to US $ 2,506,1 bln in nine months year-on-year. Products of industrial-technical purposes occupied the biggest share (78%) in the commodity composition of imports. Consumer goods accounted for 22%, of which 23,9% were foodstuff and 76,1% nonfoods.
In January-September 2005, foreign currency operations in payments for imports made up 33,2%, of which foreign currency payments totaled 77,6% and the rest 22,4% were payments for commercial credit. In the nine months of the current year payments for imports consisted of clearing operations - 15,6%, payments in national currency - 8,6%, supplies under other commercial operations - 9,5% and operations under agreements on cooperation in construction of enterprises and facilities - 17,3%.
Turkmenistan imported from 82 countries. Over half of the country's imports come from Russia, the U.S., Ukraine, Turkey and France.
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