Economic freedom is ‘repressed’ and the state continues to stifle other freedoms, but public finances are in rude health. Inflation remains a future concern and the economy is moderating owing to lower natural gas prices, but higher foreign investment has been targeted. Poverty rates remain high and a gender income imbalance persists, but strong population growth will support the consumer market. Although mobile adoption is solid, internet use is subdued and is adversely affecting e-commerce.

The population of Turkmenistan is predicted to increase by 19.2%, due to changes in net migration and natural change, standing at a total of 8.9 million citizens by 2040. Demographic changes, economic conditions and social trends are all contributing to positive net migration. The birth rate in Turkmenistan is anticipated to drop between the years 2024 and 2040. Generational cohorts in Turkmenistan will continue to influence consumer expenditure based on their specific purchasing habits

Insight into income, wealth and expenditure of consumers and households is vital in helping businesses make strategic decisions with regards to which country (or even which region within a country) to enter, which consumer segment to target, which products or services to market, and at which price point. Other factors such as the size and expansion of the middle class and income inequality are also important in helping companies gauge the potential of a country market.

Insight into income, wealth and expenditure of consumers and households is vital in helping businesses make strategic decisions with regards to which country (or even which region within a country) to enter, which consumer segment to target, which products or services to market, and at which price point. Other factors such as the size and expansion of the middle class and income inequality are also important in helping companies gauge the potential of a country market.

The report examines the economic landscape of Turkmenistan and provides information on major monetary indicators, foreign trade and government finance. The economy expanded in real terms in 2024, driven by private consumption, government spending and investments. However, a global economic slowdown, increasing geopolitical tensions and economic fragmentation as well as tight financial conditions pose risks to the country’s economic outlook.

The number of households is set to increase moderately, while the average household size will shrink in Turkmenistan over 2024-2029. Couples with children will remain the dominant household type but the fastest household expenditure growth is forecast to be recorded by single person households. In addition, the share of households living in urban areas is projected to expand to 62.1% by 2029.

Asia Pacific remained the largest global producer of food, beverages and tobacco in 2021, with sales valued at USD3,809 billion. With the release of pent-up demand, the industry’s turnover witnessed an increase in 2021. Going forward, expanding domestic markets and rising productivity are expected to stimulate the industry’s growth. However, with tightening global food supplies amid climate change and geopolitical conflicts, challenges persist, especially for major regional food importers.

With a turnover of USD365.8 billion in 2021, Asia Pacific was the world’s second largest region for recreation, entertainment and arts. Over the next decade, the region’s entertainment industry is poised to grow at the fastest rate, nearly closing the gap with Western European turnover levels by 2030. Recovering tourism, growing investments and economic expansion are set to drive the entertainment industry’s growth in Asia Pacific, with China remaining in the lead.