TURKMENISTAN
Trade- Total trade for the year 2015-16 stood at 109.39 million of which exports from India stood at US$ 63.30 million and Imports by India at US$ 46.09 million registering a surplus of US$ 17.21 million in India’s favour. Major items of import from India include electronic and electrical items (LG products made in India), machinery and woven apparel and pharmaceuticals, frozen meat and tyres. Exports to India comprises of raw hides and inorganic chemicals (e.g.Sulpher, Iodine). Turkmenistan produces cotton, wheat, rice, limited variety of vegetables and fruits but remains short of needs for its population. Turkmenistan imports some food items such as rice, sugar, milk and milk products, fruits & vegetables, etc. from various countries. The high transport costs are hindering bilateral trade.
Bilateral trade in (in million US $ )
| Year | Indian exports | Indian imports | Turnover |
|---|---|---|---|
| 2010-11 | 26.16 | 9.73 | 35.89 |
| 2011-12 | 43.95 | 16.89 | 60.84 |
| 2012-13 | 69.92 | 8.33 | 78.25 |
| 2013-14 | 73.63 | 14.10 | 87.73 |
| 2014-15 | 69.92 | 8.33 | 78.25 |
| 2015-16 | 73.63 | 14.10 | 87.73 |
| 2016-17 | 91.98 | 13.05 | 105.03 |
| 2017-18 | 63.30 | 4.09 | 109.39 |
In pharmaceuticals, there is a joint venture, namely, Turkmenderman-Ajanta Pharma. Besides, several Indian companies are supplying medical products to Turkmenistan.