The three largest economies - Kazakhstan, Uzbekistan, and Turkmenistan - account for 95% of Central Asia's total GDP and are net exporters of hydrocarbons. This was stated in the Eurasian Development Bank's report "Macroeconomic Forecast 2025–2027," Orient.tm reports.
In 2024, the nominal GDP of Central Asia may exceed $500 billion. According to EDB estimates, it will increase by more than 10% to reach $519 billion.
The exports of Kyrgyzstan and Tajikistan are primarily based on metals and metal ores. All countries in the region have open economies, with the Kyrgyz Republic leading in terms of engagement in foreign trade.
Kazakhstan: According to the World Bank, Kazakhstan's GDP at current prices amounted to $262.6 billion in 2023. Projections for 2024 indicate that GDP per capita in Kazakhstan will reach $14,800, an increase of 12.7% compared to the previous year.
Uzbekistan: Based on data presented by President Mirziyoyev, Uzbekistan's GDP exceeded $100 billion by the end of 2024 and may reach $114 billion. GDP per capita during this period stood at $2,500.
Turkmenistan: Accurate data on Turkmenistan's GDP for 2024 is not available in open sources. However, considering that Kazakhstan and Uzbekistan account for a significant share of the region's GDP, it can be assumed that Turkmenistan's GDP constitutes the remaining portion of the 95% of Central Asia's total GDP attributed to these three countries.
CentralasianLIGHT.org
January 22, 2025