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Tajikistan Economy 2019

SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES











Tajikistan Economy 2019
SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 08, 2019

Economy - overview:
Tajikistan is a poor, mountainous country with an economy dominated by minerals extraction, metals processing, agriculture, and reliance on remittances from citizens working abroad. Mineral resources include silver, gold, uranium, antimony, tungsten, and coal. Industry consists mainly of small obsolete factories in food processing and light industry, substantial hydropower facilities, and a large aluminum plant - currently operating well below its capacity. The 1992-97 civil war severely damaged an already weak economic infrastructure and caused a sharp decline in industrial and agricultural production. Today, Tajikistan is the poorest among the former Soviet republics. Because less than 7% of the land area is arable and cotton is the predominant crop, Tajikistan imports approximately 70% of its food.

Since the end of the civil war, the country has pursued half-hearted reforms and privatizations in the economic sphere, but its poor business climate remains a hindrance to attracting foreign investment. Some experts estimate the value of narcotics transiting Tajikistan is equivalent to 30%-50% of GDP.

Because of a lack of employment opportunities in Tajikistan, more than one million Tajik citizens work abroad - roughly 90% in Russia - supporting families back home through remittances that in 2017 were equivalent to nearly 35% of GDP. Tajikistan’s large remittances from migrant workers in Russia exposes it to monetary shocks. Tajikistan often delays devaluation of its currency for fear of inflationary pressures on food and other consumables. Recent slowdowns in the Russian and Chinese economies, low commodity prices, and currency fluctuations have hampered economic growth. The dollar value of remittances from Russia to Tajikistan dropped by almost 65% in 2015, and the government spent almost $500 million in 2016 to bail out the country’s still troubled banking sector.

Tajikistan’s growing public debt – currently about 50% of GDP – could result in financial difficulties. Remittances from Russia increased in 2017, however, bolstering the economy somewhat. China owns about 50% of Tajikistan’s outstanding debt. Tajikistan has borrowed heavily to finance investment in the country’s vast hydropower potential. In 2016, Tajikistan contracted with the Italian firm Salini Impregilo to build the Roghun dam over a 13-year period for $3.9 billion. A 2017 Eurobond has largely funded Roghun’s first phase, after which sales from Roghun’s output are expected to fund the rest of its construction. The government has not ruled out issuing another Eurobond to generate auxiliary funding for its second phase.

GDP (purchasing power parity):
$28.43 billion (2017 est.)
$26.55 billion (2016 est.)
$24.83 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 135
[see also: GDP country ranks ]

GDP (official exchange rate):
$7.144 billion (2017 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
7.1% (2017 est.)
6.9% (2016 est.)
6% (2015 est.)
country comparison to the world: 19
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$3,200 (2017 est.)
$3,000 (2016 est.)
$2,900 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 192
[see also: GDP - per capita country ranks ]

Gross national saving:
24.4% of GDP (2017 est.)
15.4% of GDP (2016 est.)
11.8% of GDP (2015 est.)
country comparison to the world: 66
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 98.4% (2017 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 13.3% (2017 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 11.7% (2017 est.)
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 2.5% (2017 est.)
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 10.7% (2017 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -36.6% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 28.6% (2017 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 25.5% (2017 est.)
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 45.9% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
cotton, grain, fruits, grapes, vegetables; cattle, sheep, goats

Industries:
aluminum, cement, coal, gold, silver, antimony, textile, vegetable oil

Industrial production growth rate:
1% (2017 est.)
country comparison to the world: 159
[see also: Industrial production growth rate country ranks ]

Labor force:
2.295 million (2016 est.)
country comparison to the world: 118
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 43%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 10.6%
[see also: Labor force - by occupation - industry country ranks ]
services: 46.4% (2016 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
2.4% (2016 est.)
2.5% (2015 est.)
note: official rate; actual unemployment is much higher
country comparison to the world: 25
[see also: Unemployment rate country ranks ]

Population below poverty line:
31.5% (2016 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA (2009 est.)
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA (2009 est.)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Distribution of family income - Gini index:
32.6 (2006)
34.7 (1998)
country comparison to the world: 116
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: 2.269 billion (2017 est.)
[see also: Budget - revenues country ranks ]
expenditures: 2.374 billion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
31.8% (of GDP) (2017 est.)
country comparison to the world: 71
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-1.5% (of GDP) (2017 est.)
country comparison to the world: 90
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
50.4% of GDP (2017 est.)
42% of GDP (2016 est.)
country comparison to the world: 101
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
7.3% (2017 est.)
5.9% (2016 est.)
country comparison to the world: 193
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
16% (20 March 2017)
6.5% (31 December 2012)
country comparison to the world: 12
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
30% (31 December 2017 est.)
24.24% (31 December 2016 est.)
country comparison to the world: 5
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$1.389 billion (31 December 2017 est.)
$1.108 billion (31 December 2016 est.)
country comparison to the world: 145
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$1.389 billion (31 December 2017 est.)
$1.108 billion (31 December 2016 est.)
country comparison to the world: 153
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$1.06 billion (31 December 2017 est.)
$1.711 billion (31 December 2016 est.)
country comparison to the world: 168
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
NA
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$35 million (2017 est.)
-$362 million (2016 est.)
country comparison to the world: 78
[see also: Current account balance country ranks ]

Exports:
$873.1 million (2017 est.)
$691.1 million (2016 est.)
country comparison to the world: 166
[see also: Exports country ranks ]

Exports - partners:
Turkey 27.5%, China 17.7%, Russia 13.4%, Switzerland 12.5%, Algeria 8.2%, Iran 7.1% (2017)

Exports - commodities:
aluminum, electricity, cotton, fruits, vegetable oil, textiles

Imports:
$2.39 billion (2017 est.)
$2.554 billion (2016 est.)
country comparison to the world: 160
[see also: Imports country ranks ]

Imports - commodities:
petroleum products, aluminum oxide, machinery and equipment, foodstuffs

Imports - partners:
Russia 38%, Kazakhstan 19%, China 8.7%, Iran 4.4% (2017)

Reserves of foreign exchange and gold:
$1.292 billion (31 December 2017 est.)
$652.8 million (31 December 2016 est.)
country comparison to the world: 127
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$5.75 billion (31 December 2017 est.)
$5.495 billion (31 December 2016 est.)
country comparison to the world: 130
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$2.272 billion (31 December 2013 est.)
country comparison to the world: 118
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$16.3 billion (31 December 2009)
country comparison to the world: 60
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Tajikistani somoni (TJS) per US dollar -
8.764 (2017 est.)
7.8358 (2016 est.)
7.8358 (2015 est.)
6.1631 (2014 est.)
4.9348 (2013 est.)


NOTE: 1) The information regarding Tajikistan on this page is re-published from the 2019 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Tajikistan Economy 2019 information contained here. All suggestions for corrections of any errors about Tajikistan Economy 2019 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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