Turkmenistan has a planned economy because the government controls the majority of the economy. Turkmenistan's industrial sector accounts for 49.3% of the country's GDP. Nonetheless, it employs only 14% of the labor force. Turkmenistan has been expanding its industrial sector with the assistance of the European Union since its independence from the Soviet Union in 1990. Oil and gas are both natural resources in this country that have a significant impact on this sector.
Turkmenistan's services sector employs 37.8% of the labor force and accounts for 37.9% of GDP. Tourism, hotel and hospitality, retail, healthcare, media, communications, customer service, banking, and financial services are all part of this industry. Banking and financial institutions, for example, are completely controlled by the government.
Turkmenistan's export trade sector is significant. Turkmenistan has a positive trade balance thanks to imports worth $5.54 billion and exports worth $8.94 billion. China (US $7 billion), Afghanistan (US $549 million), and Turkey (US $542 billion) are its top three trading partners. Minerals worth $8.19 billion USD are exported. Petroleum gas is the largest export in this category, accounting for 80% of total exports worth $7.17 billion USD.