Tajikistan's trade deficit has widened due to increased imports and reduced exports as the government decided to keep more gold domestically, World Bank economists say. This was reported by Asiaplustj.info agency.
The WB report states that Tajikistan compensated for this deficit through a significant increase in foreign exchange inflows through remittances, foreign direct investment, loans and grants provided by international organizations.
According to official statistics, Tajikistan exported precious metals in the amount of just over $500 thousand in 5 months of this year, which is 350 times less than in the same period in 2022. Then the export of precious metals was carried out in the amount of $175 million.
Meanwhile, a large influx of foreign currency, according to the WB, increased the international reserves (gold and foreign exchange reserves) of the country.
It is noted that in 2022 Tajikistan increased these reserves by 37% - "up to about $3.8 billion."
The country's gold and foreign exchange reserves are estimated at the level of 9 months of covering the country's imports.
Earlier, the leadership of the National Bank of Tajikistan reported that 86% of international reserves are the currency part, 12% - gold and 2% - the external investment portfolio.
CentralasianLIGHT.org
7 June 2023