DUSHANBE, Tajikistan, April 30. Tajikistan's GDP grew by 8.2 percent year-on-year from January through March 2024, Trend reports.
The Eurasian Development Bank (EDB) states that the main drivers of this growth were household consumption and investments in infrastructure.
Trade and construction contributed 1.4 and 2.2 percentage points, respectively, to the economic expansion. The industrial sector contributed 1.3 percentage points to GDP growth.
However, growth in the industrial sector was uneven. Extractive industries saw a production increase of 39.3 percent year-on-year due to increased mining activities. Manufacturing output rose by 10.5 percent year-on-year, driven by sectors such as textiles, construction materials, and metallurgy. The agricultural sector contributed 0.1 percentage points to GDP.
The energy sector witnessed a decline of 12.1 percent year-on-year. Expectations are for an increase in the growth rates of the energy and agricultural sectors in the medium term.
To note, the EDB expected Tajikistan's GDP to grow by 7.3 percent by the end of 2024. Meanwhile, the International Monetary Fund (IMF) expects Tajikistan’s real GDP growth to reach 6.5 percent in 2024. Tajikistan's GDP growth amounted to 8.3 percent in 2023, reaching over 130 billion somoni ($11 billion).