Afghanistan’s foreign trade decreases

export_import-9c4

KABUL (TCA) — Afghanistan’s Chamber of Commerce and Industries (ACCI) says Afghanistan’s foreign trade has reduced to at least $7 billion USD in recent years from almost $14 billion USD in 2014, Afghan broadcaster TOLOnews reported.

The ACCI officials said that economic stagnation of some companies in recent years has affected money in circulation in the country which is a reason behind the decrease in trade value.

Deputy head of ACCI Khanjan Alokozai said that some investors with over 20 years of work experience in Afghanistan have cancelled their investment in the country.

“Our trade volume with the world was up to $15 billion USD but now it is between six to seven billion USD which shows too much reduction. This is all because of problems faced by traders,” Alokozai said.

However, the Afghan Ministry of Commerce and Industries said the trade volume has increased in the recent years.

“The money in circulation was more than eight billion USD in 2015 and 2017 but our exports which were over $500 million USD in 2015 increased to more than $700 million last year,” said Musafir Qoqandi, spokesman for the ministry.

Some investors said insecurity and trade problems with a number of neighboring countries are the main reasons behind a decrease in the trade volume.

Sergey Kwan

TCA