Diplomatic representation in the US: chief of mission: Ambassador Halil UGUR chancery: 2207 Massachusetts Avenue NW, Washington, DC 20008 telephone: [1] (202) 588-1500 FAX : [1] (202) 588-0697
Diplomatic representation from the US: chief of mission: Ambassador Michael W. COTTER embassy : 9 Pushkin Street, Ashgabat mailing address: use embassy street address telephone: [9] (9312) 35-00-45, 35-00-46, 35-00-42, Tie Line [8] 962-0000 FAX: [9] (9312) 51-13-05
Flag description: green field, including a vertical stripe on the hoist side, with a claret vertical stripe in between containing five white, black, and orange carpet guls (an asymmetrical design used in producing rugs) associated with five different tribes; a white crescent and five white stars in the upper left corner to the right of the carpet guls
Economy
Economy - overview: Turkmenistan is largely desert country with nomadic cattle raising, intensive agriculture in irrigated oases, and huge gas and oil resources. One-half of its irrigated land is planted in cotton, making it the world's tenth largest producer. It also possesses the world's fifth largest reserves of natural gas and substantial oil resources. Until the end of 1993, Turkmenistan had experienced less economic disruption than other former Soviet states because its economy received a boost from higher prices for oil and gas and a sharp increase in hard currency earnings. In 1994, Russia's refusal to export Turkmen gas to hard currency markets and mounting debts of its major customers in the former USSR for gas deliveries contributed to a sharp fall in industrial production and caused the budget to shift from a surplus to a slight deficit. The economy recovered slightly in 1996, but high inflation continued. Furthermore, with an authoritarian ex-communist regime in power and a tribally based social structure, Turkmenistan has taken a cautious approach to economic reform, hoping to use gas and cotton sales to sustain its inefficient economy. In 1996, the government set in place a stabilization program aimed at a unified and market-based exchange rate, allocation of government credits by auction, and strict limits on budget deficits. Privatization goals remain limited. Turkmenistan is working hard to open new gas export channels through Iran and Turkey to Europe, but these will take many years to realize.
GDP: purchasing power parity - $11.8 billion (1996 estimate as extrapolated from World Bank estimate for 1994)
GDP - real growth rate: 0.1% (1996 est.)
GDP - per capita: purchasing power parity - $2,840 (1996 est.)
GDP - composition by sector: agriculture : 16% industry: 48% services: 36% (1996 est.)
Inflation rate - consumer price index: 600% (1996 est.)