Economic development of the Republic of Tajikistan

26.01.2022 10:10

Major macroeconomic indicators of Tajikistan 2021

As a result of implementation of instructions of the Founder of Peace and National Unity – Leader of the Nation, President of the Republic of Tajikistan Emomali Rahmon highlighted in his Address to the Majlisi Oli, enlarged meeting of the Government on summarizing the results of socio-economic development in 2020 and tasks for 2021, working trip to the regions, cities and districts of the country and taking anti-crisis measures, the stability of macroeconomic indicators was ensured in 2021, real GDP growth was secured at a rate of 9.2%, which is 4.7 percentage points more than last year.
It should be noted that the country's economic growth in 2021 is the highest in the last 17 years.
International financial institutions also rated the economic development of Tajikistan in 2021 as the highest in the region.
The growth rate of the economy is due to the increase in investments in fixed assets by 23.3%, industrial production by 22%, passenger traffic by 12.6%, domestic trade turnover by 13%, agriculture by 6.6%, transportation by 2.7%, paid services by 7,9% and foreign trade turnover by 39.5%, including exports by 52.8%.
In 2021, the inflation rate was 8 percent, which is 1.4 percentage points lower than the same period in 2020 (9.4 percent).
Inflation in the country has been formed due to a 7.3% increase in food prices, 7.5% increase in non-food prices and 11.3% increase in tariffs for paid services.
Growth of industry has been ensured by 16.3% increase in production of processing industry, 1.5 times increase in mining industry, 15.2% increase in electricity, gas, steam and air purification supply and 9.2% increase in water supply, purification, processing waste and secondary processing.
Electricity production in the country in 2021 reached 20,623.8 million kWh. and was ensured at the volume of 853.3 million kWh or by 4.3 percent more compared to 2020.
In 2021, the volume of agricultural production reached 39.8 billion somoni, which is 6.6 percent more than in 2020, including 5.9 percent in crop production and 8.4 percent in livestock.
As of January 1, 2022, 78 projects are being implemented (39 grant projects, 7 loan projects and 32 projects in mixed loan-grant financing), the total amount of which is 42 billion somoni ($3.7 billion). 
Within the framework of these projects from the start till January 1, 2022 15.4 billion somoni ($1.3 billion) were disbursed.  
The disbursement in 2021 is estimated at 5.4 billion somoni ($481.2 million), which is 96 percent of the total financial plan for the reporting period.
In 2021, the inflow of foreign capital in to the country amounted to $718.3 million, which is $289.9 million or 1.7 times more compared to the same period of the previous year. 
The total foreign investments consists of $342.2 million direct investments and $376 million other types of capital investments. 
The inflow of direct investments in 2021 compared to the same period in 2020 amounted to $179.7 million, which is 2.1 times more, and other investments $110.6 million, which is more by 42%.
Direct investments were mainly directed to the mining sector 56.9%, manufacturing 9.9%, construction 2.1% and other sectors 31.1%.
According to statistics, the volume of investments in fixed assets in 2021 reached 14757.2 million somoni, which is 23.3% more compared to the same period of 2020.
The volume of paid services in all spheres in 2021 will reach 15111.8 million somoni, which 7.9 percent more compared to the previous year.
Out of the total volume, paid services provided to the population amounted to 77.6% or 11721.2 million somoni, which is 1.4% more than in 2021.
In 2021, 82 million tons of cargo were transported by all modes of transport, which is 2.7% more than in the same period of the last year.
At the same time, the number of passengers transported amounted to 737.1 million passenger, which 12.6% more compared to the same period of the previous year.
According to statistics, the foreign trade amounted to $6359.1 million, which is considered the highest indicator in the history of independence, as an increase of 39.5% or $1801.3 million was recorded compared to the same period last year.
In 2021, exports reached $2149.6 million, and imports to $4209.5 million, which is correspondingly higher compared to 2020, when exports amounted to $742.7 million or 52.8% and imports amounted to $1058.6 million or 33.6 percent. 
The main trade partners of the Republic of Tajikistan in 2021 were the Russian Federation (21.3%), Kazakhstan (18.5%), Switzerland (14.4%), China (13.2%), Uzbekistan (7%), Turkey (6,1%), India and Iran (1.9%), Germany (1.7%), Belgium (1.6%), Japan (1.4 %), Sweden (1,1 %) and other countries.