| Date - Field | Tajikistan - Economy - overview |
2012 January
Economy - overview | Tajikistan has one of the lowest per capita GDPs among the 15 former Soviet republics. Because of a lack of employment opportunities in Tajikistan, as many as a million Tajik citizens work abroad, almost all of them in Russia, supporting families in Tajikistan through remittances. Less than 7% of the land area is arable. Cotton is the most important crop, and its production is closely monitored, and in many cases controlled, by the government. In the wake of the National Bank of Tajikistan's admission in December 2007 that it had improperly lent money to investors in the cotton sector, the IMF canceled its program in Tajikistan. A reform agenda is underway, according to which over half a billion dollars in farmer debt is being forgiven, and IMF assistance has been reinstated. Mineral resources include silver, gold, uranium, and tungsten. Industry consists only of a large aluminum plant, hydropower facilities, and small obsolete factories mostly in light industry and food processing. The civil war (1992-97) severely damaged the already weak economic infrastructure and caused a sharp decline in industrial and agricultural production. Tajikistan's economic situation remains fragile due to uneven implementation of structural reforms, corruption, weak governance, seasonal power shortages, and the external debt burden. A debt restructuring agreement was reached with Russia in December 2002, including a $250 million write-off of Tajikistan's $300 million debt. Electricity output expanded with the completion of the Sangtuda I hydropower dam - finished in 2009 with Russian investment. The smaller Sangtuda-2, built with Iranian investment, is scheduled for completion in 2012. The government of Tajikistan is pinning major hopes on the massive Roghun dam which, if finished according to Tajik plans, will be the tallest dam in the world. The World Bank has agreed to fund technical, economic, social, and environmental feasibility studies for the dam. Favorable reports from these studies could create investor interest in the project, which is currently moving forward with domestic funding. In January 2010, the government began selling shares in the Roghun enterprise to its population, ultimately raising over $180 million. According to numerous reports, many Tajik individuals and businesses were forced to buy shares. The coerced share sales finally ended in mid-2010 under intense criticism from donors, particularly the IMF. Tajikistan has received substantial infrastructure development loans from the Chinese government to improve roads and electricity transmission. To help increase north-south trade, the US funded a $36 million bridge which opened in August 2007 linking Tajikistan with Afghanistan. While Tajikistan has experienced steady economic growth since 1997, more than half of the population continues to live in poverty. Economic growth reached 10.6% in 2004, but dropped below 8% in 2005-08, as the effects of higher oil prices and then the international financial crisis began to register - mainly in the form of lower prices for key export commodities and lower remittances from Tajiks working abroad. |
2011 January
Economy - overview | Tajikistan has one of the lowest per capita GDPs among the 15 former Soviet republics. Because of a lack of employment opportunities in Tajikistan, nearly half of the labor force works abroad, primarily in Russia and Kazakhstan, supporting families in Tajikistan through remittances. The exact number of labor migrants is unknown, but estimated at around 1 million. Less than 7% of the land area is arable. Cotton is the most important crop, but this sector is burdened with debt and obsolete infrastructure; moreover, government has encouraged a gradual transition away from cotton and towards food cultivation due to its concerns about feeding the population. Mineral resources include silver, gold, uranium, and tungsten. Industry consists only of a large aluminum plant, hydropower facilities, and small obsolete factories mostly in light industry and food processing. The civil war (1992-97) severely damaged the already weak economic infrastructure and caused a sharp decline in industrial and agricultural production. Tajikistan's economic situation remains fragile due to uneven implementation of structural reforms, corruption, weak governance, seasonal power shortages, and the external debt burden. A debt restructuring agreement was reached with Russia in December 2002, including a $250 million write-off of Tajikistan's $300 million debt. Completion of the Sangtuda I hydropower dam - finished in 2009 with Russian investment - and the Sangtuda II and Rogun dams will add substantially to electricity output. If finished according to Tajik plans, Rogun will be the world's tallest dam. The World Bank, in 2010, agreed to fund safety and feasibility studies for the Rogun Dam. Favorable reports from these studies could increase investor interest in the project, which has been stalled due to lack of funding. Tajikistan has also received substantial infrastructure development loans from the Chinese government to improve roads and an electricity transmission network. To help increase north-south trade, the US funded a $36 million bridge which opened in August 2007 and links Tajikistan and Afghanistan. While Tajikistan has experienced steady economic growth since 1997, more than half of the population continues to live in poverty. Economic growth reached 10.6% in 2004, but dropped below 8% in 2005-08, as the effects of higher oil prices and then the international financial crisis began to register - mainly in the form of lower prices for key export commodities and lower remittances from Tajiks working abroad, due to the global economic downturn. In 2009 GDP growth dropped to 3.4% as a result of the world recession. |
2010 January
Economy - overview | Tajikistan has one of the lowest per capita GDPs among the 15 former Soviet republics. Because of a lack of employment opportunities in Tajikistan, nearly half of the labor force works abroad, primarily in Russia, supporting families in Tajikistan through remittances. The exact number of labor migrants is unknown, but estimated at around 1 million. Less than 7% of the land area is arable. Cotton is the most important crop, but this sector is burdened with debt and obsolete infrastructure. Mineral resources include silver, gold, uranium, and tungsten. Industry consists only of a large aluminum plant, hydropower facilities, and small obsolete factories mostly in light industry and food processing. The civil war (1992-97) severely damaged the already weak economic infrastructure and caused a sharp decline in industrial and agricultural production. Tajikistan's economic situation remains fragile due to uneven implementation of structural reforms, corruption, weak governance, widespread unemployment, seasonal power shortages, and the external debt burden. A debt restructuring agreement was reached with Russia in December 2002 including a $250 million write-off of Tajikistan's $300 million debt. Completion of the Sangtuda I hydropower dam - built with Russian investment - and the Sangtuda II and Rogun dams will add substantially to electricity output. If finished according to Tajik plans, Rogun will be the world's tallest dam. Tajikistan has also received substantial infrastructure development loans from the Chinese government to improve roads and an electricity transmission network. To help increase north-south trade, the US funded a $36 million bridge which opened in August 2007 and links Tajikistan and Afghanistan. While, Tajikistan has experienced steady economic growth since 1997, nearly two-thirds of the population continues to live in poverty. Economic growth reached 10.6% in 2004, but dropped below 8% in 2005-08, as the effects of higher oil prices and then the international financial crisis began to register - mainly in the form of lower prices for key commodities and lower remittances from Tajiks working in Russia, due to the declining economic conditions in that country. |
2009 January
Economy - overview | Tajikistan has one of the lowest per capita GDPs among the 15 former Soviet republics. Only 7% of the land area is arable. Cotton is the most important crop, but this sector is burdened with debt and an obsolete infrastructure. Mineral resources include silver, gold, uranium, and tungsten. Industry consists only of a large aluminum plant, hydropower facilities, and small obsolete factories mostly in light industry and food processing. The civil war (1992-97) severely damaged the already weak economic infrastructure and caused a sharp decline in industrial and agricultural production. Tajikistan's economic situation remains fragile due to uneven implementation of structural reforms, corruption, weak governance, widespread unemployment, seasonal power shortages, and the external debt burden. A debt restructuring agreement was reached with Russia in December 2002 including a $250 million write-off of Tajikistan's $300 million debt. Completion of the Sangtuda I hydropower dam - built with Russian investment - and the Sangtuda II and Rogun dams will add substantially to electricity output. If finished according to Tajik plans, Rogun will be the world's tallest dam. Tajikistan has also received substantial infrastructure development loans from the Chinese government to improve roads and an electricity transmission network. To help increase north-south trade, the US funded a $36 million bridge which opened in August 2007 and links Tajikistan and Afghanistan. While, Tajikistan has experienced steady economic growth since 1997, nearly two-thirds of the population continues to live in poverty. Economic growth reached 10.6% in 2004, but dropped to roughly 8% in 2005-07, and 4.5% in 2008, as the effects of the international financial crisis began to register - mainly in the form of lower prices for key commodities. |
2008 January
Economy - overview | Tajikistan has one of the lowest per capita GDPs among the 15 former Soviet republics. Only 7% of the land area is arable; cotton is the most important crop. Mineral resources, varied but limited in amount, include silver, gold, uranium, and tungsten. Industry consists only of a large aluminum plant, hydropower facilities, and small obsolete factories mostly in light industry and food processing. The civil war (1992-97) severely damaged the already weak economic infrastructure and caused a sharp decline in industrial and agricultural production. While Tajikistan has experienced steady economic growth since 1997, nearly two-thirds of the population continues to live in abject poverty. Economic growth reached 10.6% in 2004, but dropped to 8% in 2005, 7% in 2006, and 7.2% in 2007. Tajikistan's economic situation remains fragile due to uneven implementation of structural reforms, weak governance, widespread unemployment, and the external debt burden. Continued privatization of medium and large state-owned enterprises could increase productivity. A debt restructuring agreement was reached with Russia in December 2002 including a $250 million write-off of Tajikistan's $300 million debt. Tajikistan ranks third in the world in terms of water resources per head. Russian investment in the Sangtuda I hydropower dam, set to go online late 2007 or early 2008, will increase production of electricity for domestic consumption. The completion of Sangtuda II and Rogun dams would substantially add to electricity output, which could also be exported for profit. If finished, Rogun will be the world's tallest dam. Tajikistan was also the recipient of substantial infrastructure development credits from the Shanghai Cooperation Organization to improve roads and an electricity transmission network. To help increase north-south trade, the US funded a $36 million bridge which opened in August 2007 and links Tajikistan and Afghanistan. |
2007 January
Economy - overview | Tajikistan has one of the lowest per capita GDPs among the 15 former Soviet republics. Only 6% of the land area is arable; cotton is the most important crop. Mineral resources, varied but limited in amount, include silver, gold, uranium, and tungsten. Industry consists only of a large aluminum plant, hydropower facilities, and small obsolete factories mostly in light industry and food processing. The civil war (1992-97) severely damaged the already weak economic infrastructure and caused a sharp decline in industrial and agricultural production. While Tajikistan has experienced steady economic growth since 1997, nearly two-thirds of the population continue to live in abject poverty. Economic growth reached 10.6% in 2004, but dropped to 8% in 2005, and to 7% in 2006. Tajikistan's economic situation, however, remains fragile due to uneven implementation of structural reforms, weak governance, widespread unemployment, and the external debt burden. Continued privatization of medium and large state-owned enterprises could increase productivity. A debt restructuring agreement was reached with Russia in December 2002, including a $250 million write-off of Tajikistan's $300 million debt to Russia. Tajikistan ranks third in the world in terms of water resources per head. A proposed investment to finish the hydropower dams Rogun and Sangtuda I and II would substantially add to electricity production, which could be exported for profit. If finished, Rogun will be the world's tallest dam. In 2006, Tajikistan was the recipient of substantial Shanghai Cooperation Organization infrastructure development credits to improve its roads and electricity transmission network. |
2006 January
Economy - overview | Tajikistan has one of the lowest per capita GDPs among the 15 former Soviet republics. Only 5% to 6% of the land area is arable. Cotton is the most important crop. Mineral resources, varied but limited in amount, include silver, gold, uranium, and tungsten. Industry consists only of a large aluminum plant, hydropower facilities, and small obsolete factories mostly in light industry and food processing. The civil war (1992-97) severely damaged the already weak economic infrastructure and caused a sharp decline in industrial and agricultural production. Even though 60% of its people continue to live in abject poverty, Tajikistan has experienced steady economic growth since 1997. Continued privatization of medium and large state-owned enterprises will further increase productivity. Tajikistan's economic situation, however, remains fragile due to uneven implementation of structural reforms, weak governance, widespread unemployment, and the external debt burden. A debt restructuring agreement was reached with Russia in December 2002, including an interest rate of 4%, a 3-year grace period, and a US $49.8 million credit to the Central Bank of Tajikistan. |
2005 January
Economy - overview | Tajikistan has one of the lowest per capita GDPs among the 15 former Soviet republics. Only 5% to 6% of the land area is arable. Cotton is the most important crop. Mineral resources, varied but limited in amount, include silver, gold, uranium, and tungsten. Industry consists only of a large aluminum plant, hydropower facilities, and small obsolete factories mostly in light industry and food processing. The civil war (1992-97) severely damaged the already weak economic infrastructure and caused a sharp decline in industrial and agricultural production. Even though 60% of its people continue to live in abject poverty, Tajikistan has experienced steady economic growth since 1997. Continued privatization of medium and large state-owned enterprises will further increase productivity. Tajikistan's economic situation, however, remains fragile due to uneven implementation of structural reforms, weak governance, widespread unemployment, and the external debt burden. A debt restructuring agreement was reached with Russia in December 2002, including an interest rate of 4%, a 3-year grace period, and a US $49.8 million credit to the Central Bank of Tajikistan. |
2004 January
Economy - overview | Tajikistan has the lowest per capita GDP among the 15 former Soviet republics. Only 5% to 6% of the land area is arable. Cotton is the most important crop. Mineral resources, varied but limited in amount, include silver, gold, uranium, and tungsten. Industry consists only of a large aluminum plant, hydropower facilities, and small obsolete factories mostly in light industry and food processing. The civil war (1992-97) severely damaged the already weak economic infrastructure and caused a sharp decline in industrial and agricultural production. Even though 60% of its people continue to live in abject poverty, Tajikistan has experienced steady economic growth since 1997. Continued privatization of medium and large state-owned enterprises will further increase productivity. Tajikistan's economic situation, however, remains fragile due to uneven implementation of structural reforms, weak governance, widespread unemployment, and the external debt burden. A debt restructuring agreement was reached with Russia in December 2002, including an interest rate of 4%, a 3-year grace period, and a US $49.8 million credit to the Central Bank of Tajikistan. |
2003 January
Economy - overview | Tajikistan has the lowest per capita GDP among the 15 former Soviet republics. Cotton is the most important crop. Mineral resources, varied but limited in amount, include silver, gold, uranium, and tungsten. Industry consists only of a large aluminum plant, hydropower facilities, and small obsolete factories mostly in light industry and food processing. The civil war (1992-97) severely damaged the already weak economic infrastructure and caused a sharp decline in industrial and agricultural production. Even though 60% of its people continue to live in abject poverty, Tajikistan has experienced steady economic growth since 1997. Continued privatization of medium and large state-owned enterprises will further increase productivity. Tajikistan's economic situation, however, remains fragile due to uneven implementation of structural reforms, weak governance, and the external debt burden. A debt restructuring agreement was reached with Russia in December 2002, including an interest rate of 4%, a 3-year grace period, and a US $49.8 million credit to the Central Bank of Tajikistan. |
2002 January
Economy - overview | Tajikistan has the lowest per capita GDP among the 15 former Soviet republics. Cotton is the most important crop. Mineral resources, varied but limited in amount, include silver, gold, uranium, and tungsten. Industry consists only of a large aluminum plant, hydropower facilities, and small obsolete factories mostly in light industry and food processing. The civil war (1992-97) severely damaged the already weak economic infrastructure and caused a sharp decline in industrial and agricultural production. Even though 80% of its people continue to live in abject poverty, Tajikistan has experienced strong economic growth since 1997. Continued privatization of medium and large state-owned enterprises will further increase productivity. Tajikistan's economic situation, however, remains fragile due to uneven implementation of structural reforms, weak governance, and the external debt burden. Servicing of the debt, owed principally to Russia and Uzbekistan, could require as much as 50% of government revenues in 2002, thus limiting the nation's ability to meet pressing development needs. |
2001 January
Economy - overview | Tajikistan has the lowest per capita GDP among the 15 former Soviet republics. Cotton is the most important crop. Mineral resources, varied but limited in amount, include silver, gold, uranium, and tungsten. Industry consists only of a large aluminum plant, hydropower facilities, and small obsolete factories mostly in light industry and food processing. The Tajikistani economy has been gravely weakened by six years of civil conflict and by the loss of subsidies from Moscow and of markets for its products. Most of its people live in abject poverty. Tajikistan depends on aid from Russia and Uzbekistan and on international humanitarian assistance for much of its basic subsistence needs. The future of Tajikistan's economy and the potential for attracting foreign investment depend upon stability and continued progress in the peace process. |
2000 January
Economy - overview | Tajikistan has the lowest per capita GDP among the 15 former Soviet republics. Cotton is the most important crop. Mineral resources, varied but limited in amount, include silver, gold, uranium, and tungsten. Industry consists only of a large aluminum plant, hydropower facilities, and small obsolete factories mostly in light industry and food processing. The Tajikistani economy has been gravely weakened by six years of civil conflict and by the loss of subsidies from Moscow and of markets for its products. Tajikistan thus depends on aid from Russia and Uzbekistan and on international humanitarian assistance for much of its basic subsistence needs. Even if the peace agreement of June 1997 is honored, the country faces major problems in integrating refugees and former combatants into the economy. The future of Tajikistan's economy and the potential for attracting foreign investment depend upon stability and continued progress in the peace process. |
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This page was last updated on 7 February, 2012 |
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