Turkmenistan launches sock factory to substitute imports

By bne IntelliNews February 15, 2016

Turkmen state-owned textile company Dokmakhyzmat has launched a sock production factory with an annual capacity of 2.5mn pairs of socks under the country’s import substitution programme, news website Turkmenistan.ru reported on February 14.

As a country primarily relying on exports of gas, Turkmenistan uses the textile industry, along with the cotton industry, to generate employment in the country, making textile industry development along with its branching sectors one of the priorities of the government’s programme for socioeconomic development of the country for 2012-2016. The country’s import substitution programme can be seen as part of the government’s ongoing efforts to uphold economic self-sufficiency.

The prices of Turkmen-made socks will be 50% cheaper than prices of imported socks in the country, according to the report.

During the Soviet Union, the country’s agriculture was almost entirely focused on cotton. The country ranked second after Uzbekistan in cotton production in the former Soviet Union. However, cotton production went on a relative decline after the fall of the Soviet Union, as the country had to replace cotton fields with wheat in order to achieve greater self-sufficiency in food products.

Turkmenistan's population stands at 6.2mn people, according to government figures.

Related Articles

World Bank raises growth forecasts for Kazakhstan and Azerbaijan

The World Bank’s latest “Global Economic Prospects” report issued on January 10 offers a mixed picture when it comes to the GDP growth prospects of countries across Central Asia and the ... more

Iran to seek arbitration over termination of gas flow from Turkmenistan

The National Iranian Gas Company (NIGC) intends to take its recent gas dispute with Turkmenistan to international arbitration, Mehr News Agency reported on January 4, citing ... more

IMF urges Turkmenistan for more efforts to reduce external deficits

Expectations for persistently lower oil and natural gas prices imply the need for Turkmen authorities to introduce additional policy adjustment, including further efforts to reduce the external ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss