On October 18, the Eurasian Development Bank (EDB) released the latest Macroeconomic Review for its six member nations. This regular publication provides a roundup of the macroeconomic situation and projects near-term developments in the member countries. The review also contains detailed statistics on key macroeconomic indicators.
Concerning Tajikistan, the report, in particular, notes that increase in Tajikistan’s external trade deficit has resulted from decline in the country’s exports.
According to the report, the country’s external trade deficit over the first eight months of this year has amounted to 2.8 billion US dollars, which is 60 percent higher compared to the same period last year (In January-August last year, Tajikistan’s external trade deficit amounted to 1.8 billion US dollars).
The report says this decline in exports can be primarily attributed to reduction in export of precious (gold) and non-ferrous (primary aluminum) metals and mineral products (cement, coal, ores and concentrates).
It is noted that imports into the country over the same-eight month period have increased “due to increased domestic demand in the economy.”
“At the same time, the monthly growth rate of imports is slowing down that will restrain the expansion of the external trade deficit,” says the report
Meanwhile, the Agency for Statistics under the President of Tajikistan (Agency) notes that Tajikistan’s exports in January-September have amounted to 971 million US dollars and imports of goods into the country over the reporting period have amounted to about 4.2 billion US dollars.
In September, the external trade deficit increased by another 400 million US dollars, amounting to 3.2 billion US dollars over the first nine months of this year.
The Agency attributes the decline in exports to the reduction in shipments of precious metals and gems, cotton fiber and mineral products.
In January-September this year, major trading partners of Tajikistan were: Russia – 26.7 percent of the overall volume of Tajikistan’s external trade turnover; Kazakhstan – 22.2 percent; China – 20.4 percent; and Uzbekistan – 12.7 percent.
