Tajikistan’s foreign debt hits $2.3 billion, imports exceed $3 billion

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DUSHANBE (TCA) — In 2016 Tajikistan’s foreign debt reached US $2.3 billion or 32.7 percent of the country’s GDP, Avesta news agency reported with reference to First Deputy Finance Minister of Tajikistan, Jamshed Karimzoda.

Last year the foreign debt increased by $79.9 million and the government spent $158 million for servicing the debt, Karimzoda told a news conference on January 27.

He also said that this year, Tajikistan plans to attract foreign loans worth more than 1.7 billion somoni (over $215 million) and around 1.1 billion somoni ($140 million) will be spent for the foreign debt’s servicing.     

Today, Tajikistan’s largest international creditor is China, accounting for more than half of the country’s total debt.  

Tajikistan’s other large creditors are the World Bank, Asian Development Bank, and Islamic Development Bank.

Avesta also reports that in 2016, Tajikistan’s exports amounted to $898.7 million and imports stood at $3 billion 30.9 million.  

According to the country’s State Statistics Agency, Turkey, Kazakhstan, Afghanistan, Switzerland, and Russia were the largest importers from Tajikistan last year.  

Turkey accounted for 22.3 percent of Tajikistan’s exports in 2016, followed by Kazakhstan with 21.7 percent.  

Tajikistan’s main export items were primary aluminum, cotton fiber, dried fruit, and gold.

Last year Tajikistan imported products mainly from Russia (32.5 percent of the total), China (27.7 percent), and Kazakhstan (15.9 percent).

It was earlier reported that Tajikistan’s trade with Russia had been decreasing while trade with China had been on the rise in recent time.

Sergey Kwan

TCA