Economy of Tajikistan

Economy of Tajikistan

Dushanbe
Currency	Somoni (ISO code: TJS abbreviation: SM)
Fiscal year	calendar year
Trade organisations	IMF, World Bank, CIS, SCO, WTO, CISFTA
Country group	Developing/Emerging[1] Lower-middle income economy[2]
Statistics
GDP	$11.816 billion (nominal, 2023 est.)[3] $53.679 billion (PPP, 2023 est.)[3]
GDP rank	149th (nominal, 2023) 122th (PPP, 2023)
GDP growth	7.6% (2018) 7.4% (2019) 4.4% (2020) 9.4% (2021)[4]
GDP per capita	$1,180 (nominal, 2023 est.)[3] $5,361 (PPP, 2023 est.)[3]
GDP per capita rank	172nd (nominal, 2023) 153th (PPP, 2023)
GDP by sector	agriculture: 23.3%, industry: 22.8%, services: 53.9% (2012 est.)
Inflation (CPI)	7.1% (2020 est.)[3]
Population below poverty line	27.4% (2018)[5] 2.7% on less than $1.90/day (2020f)[6]
Gini coefficient	34.0 medium (2015)[7]
Human Development Index	0.685 medium (2021)[8] (122th) 0.599 medium IHDI (2021)[9]
Labour force	2.1 million (2012)
Labour force by occupation	agriculture: 47.9%, industry: 10.9%, services: 41.2% (2012 est.)
Unemployment	2.5% (2012 est.)
Main industries	aluminium, cement, vegetable oil
External
Exports	$1.753 billion (2022 est.)[10]
Export goods	aluminium, electricity, cotton, fruits, vegetable oil, textiles
Main export partners	Switzerland 25.6%  Kazakhstan 17.1%  Turkey 11.4%  China 7.5%  Uzbekistan 6.1%  Hong Kong 6.04%  Belgium 4.2%  Afghanistan 3.9%  Italy 3.7%  Russia 3.4% (2021)[11]
Imports	$5.182 billion (2022 est.)[12]
Import goods	petroleum products, aluminium oxide, machinery and equipment, foodstuffs
Main import partners	China 31.8%  Russia 22.7%  Kazakhstan 14.2%  Uzbekistan 6.7%  Turkey 5.3%  India 2.1%  United Arab Emirates 1.7%  Iran 1.4%  Sweden 1.3%  Germany 1.2% (2021)[13]
Public finances
Government debt	US$2.2 billion (31 December 2012 est.)
Revenues	US$2.046 billion (2012 est.)
Expenses	US$2.066 billion (2012 est.)
Economic aid	recipient: US$67 million from US (2005)
All values, unless otherwise stated, are in US dollars.

The economy of Tajikistan is dependent upon agriculture and services.^[14] Since independence, Tajikistan has gradually followed the path of transition economy, reforming its economic policies. With foreign revenue precariously dependent upon exports of cotton and aluminium, the economy is highly vulnerable to external shocks. Tajikistan's economy also incorporates a massive black market, primarily focused on the drug trade with Afghanistan. Heroin trafficking in Tajikistan is estimated to be equivalent to 30-50% of national GDP as of 2012.^[15]

In the fiscal year (FY) 2000, international assistance remained an essential source of support for rehabilitation programs that reintegrated former combatants of the Tajikistani Civil War into the civilian economy, thus helping maintain the peace. International assistance also was necessary to address the second year of severe drought that resulted in a continued shortfall of food production. Tajikistan's economy grew substantially after the war. The gross domestic product (GDP) of Tajikistan expanded at an average rate of 9.6% over the period of 2000-2007 according to the World Bank data. This improved Tajikistan's position among other Central Asian countries (namely Turkmenistan and Uzbekistan), which have degraded economically ever since.^[16] As of August 2009, an estimated 60% of Tajikistani citizens live below the poverty line.^[17] The 2008 global financial crisis has hit Tajikistan hard, both domestically and internationally. Tajikistan has been hit harder than many countries because it already has a high poverty rate and because many of its citizens depend on remittances from expatriate Tajikistanis.