Tajikistan’s trade gap reached $1.7 billion from January through May 2023, Trend reports.
According to the Eurasian Development Bank (EDB), this is a 70-percent rise over the $1 billion deficit recorded during the same period in 2022.
Several factors have contributed to the expanding trade deficit, primarily driven by the growth of domestic demand. Despite an decrease in global prices for energy resources and food imports, Tajikistan’s internal demand for goods and services has continued to surge. As a result, imports have increased by 20.9 percent year-on-year.
Another contributing factor to the growing trade deficit is the decline in exports by 34 percent year-on-year.
The slowdown in export supplies can be attributed to interruptions in the supply of gold to external markets and reduced deliveries of other vital export commodities such as non-precious metals, mineral products (ore concentrates, cement, etc.), and textiles.
According to the Statistical Agency of Tajikistan, the country’s foreign trade turnover from January through May 2023 amounted to $2.8 billion, increasing 3.9 percent compared to the corresponding period in 2022. During this period, Tajikistan engaged in trade with 104 countries worldwide.
Source: Trend News Agency