tripe near the
hoist side, containing five carpet guls (designs used in producing
rugs) stacked above two crossed olive branches similar to the olive
branches on the UN flag; a white crescent moon and five white stars
appear in the upper corner of the field just to the fly side of the
red stripe

@Turkmenistan:Economy

Economy - overview: Turkmenistan is largely desert country with
nomadic cattle raising, intensive agriculture in irrigated oases, and
huge gas and oil resources. One-half of its irrigated land is planted
in cotton, making it the world's tenth largest producer. It also
possesses the world's fifth largest reserves of natural gas and
substantial oil resources. Until the end of 1993, Turkmenistan had
experienced less economic disruption than other former Soviet states
because its economy received a boost from higher prices for oil and
gas and a sharp increase in hard currency earnings. In 1994, Russia's
refusal to export Turkmen gas to hard currency markets and mounting
debts of its major customers in the former USSR for gas deliveries
contributed to a sharp fall in industrial production and caused the
budget to shift from a surplus to a slight deficit. With an
authoritarian ex-communist regime in power and a tribally based social
structure, Turkmenistan has taken a cautious approach to economic
reform, hoping to use gas and cotton sales to sustain its inefficient
economy. Privatization goals remain limited. Turkmenistan is working
hard to open new gas export channels through Iran and Turkey to
Europe, but these will take many years to realize. In 1998-99,
Turkmenistan faced revenue shortfalls due to the continued lack of
adequate export routes for natural gas and obligations on extensive
short-term external debt. Prospects in the near future are
discouraging because of widespread internal poverty and the burden of
foreign debt. IMF assistance would seem to be necessary, yet the
government is not as yet ready to accept IMF requirements.
Turkmenistan's 1999 deal to ship 20 billion cubic meters (bcm) of
natural gas through Russia's Gazprom will help alleviate the 2000
fiscal shortfall, but will not make up for the absence of meaningful
progress in economic reform.

GDP: purchasing power parity - $7.7 billion (1999 est.)

GDP - real growth rate: 9% (1999 est.)

GDP - per capita: purchasing power parity - $1,800 (1999 est.)

GDP - composition by sector:
agriculture: 10%
industry: 62%
services: 28% (199