[Central Asia] Natural Landscapes of Tajikistan: Mountains and Lakes
Hello, nice to meet you.
Today, I am providing an overview of Tajikistan's economy.
Economic Overview
- Tajikistan's economy primarily relies on mining, metal processing, and agriculture, supplemented by remittances from Tajik nationals working abroad.
- The economy is recovering rapidly from the impacts of the COVID-19 pandemic. Statistics indicate that the GDP growth rate for the first half of 2021 was 8.7%, compared to 3.5% for the same period in 2020.
- In the first quarter of 2020, remittances from Russia decreased by 22% compared to the same period in the previous year. Although 60% of the labor force is employed in agriculture, the agricultural sector contributed approximately $1.61 billion, or 19.8%, to the GDP, which totaled around $8.12 billion in 2019.
- Due to the ongoing COVID-19 pandemic and the conflict in Russia, many workers have returned to Tajikistan, significantly impacting the economy and employment.
- Major agricultural products include cotton, grains, fruits, grapes, and vegetables, while main livestock includes cattle, sheep, and goats.
- Financially, the real per capita income in 2019 increased by 6% from the previous year, reaching 425.46 Tajikistan somoni (TJS) per month. The primary sources of cash income are labor (51.2%) and agricultural product sales (5.4%).
Key Economic Indicators (2020)
- GDP: $8.2 billion (EIU)
- Per Capita GDP: $834 (IMF)
- Economic Growth Rate: 7% (EIU)
- Trade Volume: $3.9 billion (EIU)
- Exports: $1.3 billion
- Imports: $2.6 billion
- Inflation Rate: 8.6% (EIU)
Russia was Tajikistan's largest trading partner in the first half of 2020, with trade amounting to $492.72 million, followed by Kazakhstan ($461.51 million), Switzerland ($306.95 million), and China ($232.19 million).
Although Tajikistan once faced difficulties in air and land transport due to strained relations with neighboring Uzbekistan, relations have improved since 2018. This has led to increased personal and commercial exchanges and an improved investment environment.
This is the first part of an overview of Tajikistan's economic situation.
Have a great day, and see you in the next part.
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