Turkmenistan

Turkmenistan carries almost no public debt: government gross debt stands at 3.1% of GDP. The economy climbed 2 places to 98th, passing Paraguay, as US$ GDP rose 12.6% to US$49.8 billion, though most of that was exchange-rate and price effects, not output; real growth was +6.3%. Services make up 48.9% of output, industry 36.0% and agriculture 12.4%; manufacturing accounted for 20.5% as of 2004. Inflation stood at 2.7% and unemployment at 4.3%.

From GDP of US$2.9 billion in 2000, when it ranked 139th, Turkmenistan's US$ GDP has grown 17.2 times, to about the size of Vermont. Low local prices lift GDP per capita 18 places on a PPP basis, from 112th at US$6,540 to 94th at $22,602 international dollars. The IMF projects the economy will grow +115% to US$107.2 billion by 2030, which would lift it to 84th.