Economic Aspects of the Formation and Development of the Textile Industry of Turkmenistan
Purpose of work. Analysis of the economic aspects of the formation of the textile industry in Turkmenistan. Materials and methods. The influence of economic, historical and geographical factors on the development of certain types of production, which form the basis of the modern textile industry of Turkmenistan, is considered. Result. The textile industry in Turkmenistan is one of the main sectors of not only the light industry, but also the entire industry of the republic. The production potential actively attracted investments in this sector, its impact on the development of related industries, the growing share in the state’s GDP suggest that the textile industry, along with the oil and gas sector, ensures the sustainable development of Turkmenistan. Conclusion. Almost half of the cotton fiber produced is processed in the country. The enterprises produce up to 118 thousand tons of cotton yarn, 178 million square meters of fabrics, 11 thousand tons of knitted fabric, 7.2 thousand tons of terry cloth and 100 million pieces of sewing and knitwear. It is worth noting that production facilities allow 70 percent of products to be sold abroad. In Turkmenistan, 70 enterprises operate in the textile industry.