Brief information on the current situation in the economy of the Republic of Tajikistan for 2019
Amid the slowdown in the global economy and the expectation of a global recession, the Government of the Republic takes timely anti-crisis measures aimed at ensuring macroeconomic stability, improving the banking system, ensuring the efficiency and transparency of the public sector, ensuring social protection and employment, improving the investment climate and developing entrepreneurship, supporting small and medium-sized production business allowed to ensure macroeconomic stability, the accelerated development of the industrial sector, the expansion of productive capacity due to the commissioning of new production capacities, steady growth of agricultural production, increase incomes and improve its living standards.
As a result of the efficient activity of economic sectors, the country's GDP in real terms grew by 7.5%, and its value in value terms amounted to77.3 billion somoni and grew by 8.5 billion somoni compared to 2018.
Growth of the economy during this period was ensured by an increase in industrial production by 13.6%, agricultural production with an increase in gross output by 7.1%, the trading industry, where the volume of trade increased by 9.0%, and the service sector with an increase in the volume of paid services by 2.9%.
At the same time, the volume of investments in fixed assets decreased by 6.3% compared to the previous year, which was due to a decrease of 6.4% in foreign investments.
In the structure of GDP, the share of agriculture was 19.8% (18.7% in 2018), industry, including energy 17.4% (17.3%), construction 8.8% (9.7%), trade services, car repair, household goods, hotels and restaurants 15.1% (14.5%), transport and communications 10.4% (10.8%), state administration and social insurance 5.9% (6.7%) , education services 5.7% (5.8%), health and social services 3.0% (2.3%), other types of services 2.3% (2.9%) and indirect taxes 10.4% ( 10.6%).
In 2019, a number of measures were implemented in the field of industry aimed at ensuring the fulfillment of the fourth national goal, accelerated industrialization of the country. In particular, 219 new industrial enterprises were built and commissioned, which contributed to the creation of 2.9 thousand new jobs and the establishment of the production of new competitive and import-substituting goods and products, as well as expanding the country's export potential.
As a result, industrial production grew by 13.6%, including mining - by 12.6%, manufacturing - by 16.2%, electricity, gas, steam - by 5.3% and water supply, cleaning, and treatment waste - by 9.1%.
Volume of gross agricultural output increased by 7.1%, including crop production increased by 7.8%, and livestock - by 5.7%. For many types of agricultural products in real terms, an increase in production volumes is observed compared with the figures for 2018. In particular, the production of raw cotton increased by 34.2% compared to the previous year, cereals - by 9.2% (including wheat - by 7.3%), vegetables - by 3.0%, fruits - by 5.8%, melons - 9.3%, meat - 4.0%, milk - 1.8%, eggs - 1.6 times.
In 2019, the implementation of 65 investment projects in various sectors of the economy under the State Investment Program continued in the total amount of $3.3 billion, of which $ 1.8 billion was spent on January 1. In addition, a number of other projects are being implemented involving direct and portfolio investments.
Service sector also made a positive contribution to the growth of the economy, which was due to an improvement in consumer sentiment in the consumer market due to an increase in household income. Total volume of goods turnover in 2019 increased by 9.0% compared to 2018, and the volume of paid services by 2.9%.
Volume of foreign trade turnover of the republic in 2019 increased by 7.1% compared to last year, including import deliveries grew by 9.4% and exports by 6.3%.
In 2019, compared with 2018, the inflation rate was 8.0%, which is due to a rise in the price of food products by 10.9%, non-food products - by 4.2%. Duringthisperiod, rateforservicesincreasedby 5.5%.