Tajikistan’s foreign trade deficit increases due to low gold exports

The Eurasian Development Bank macroeconomic review revealed that the main factor in the increase in Tajikistan’s external trade deficit is the decline in exports.

“Tajikistan’s external trade deficit in January-August this year amounted to 2.8 billion dollars,” according to the macroeconomic review released by the Eurasian Development Bank in October.

“This figure increased by 60% compared to the same period last year (from 1.8 billion dollars in the period from January to August 2022),” the review showed.

Analysts of the Eurasian Development Bank attribute the decrease in export volumes to a decrease in the supply of gold, base metals (primary aluminum), and mineral products (cement, coal, ores, and concentrates) to foreign markets.

“Imports rose simultaneously due to an increase in domestic demand in the economy,” the review showed.

The Department of Statistics of Tajikistan attributes the decrease in export volumes primarily to the decrease in exports of gold, precious stones, stone products, gypsum, cement, mineral products, and cotton fiber from the country.

Exports of Tajik products in January–September of this year amounted to 971 million dollars; imports were about 4.2 billion dollars.

The main countries for the sale of Tajik products for nine months of this year were Kazakhstan (22.0% of total exports), China (20.4%), and Uzbekistan (12.7%).

The main suppliers of goods to Tajikistan were Russia (26.7% of total imports), China (20.8%), and Kazakhstan (14.8%).