Mountains in Tajikistan

Tajikistan Economy

Tajikistan's economy in numbers:

Nominal GDP of USD 10.5 billion in 2022.

GDP per capita of USD 1,068 compared to the global average of USD 10,589.

Average real GDP growth of 7.2% over the last decade.

Share of the region's population
Share of the region's GDP

Economic structure:

In 2020, services accounted for 42% of overall GDP, manufacturing 16%, other industrial activity 18%, and agriculture 24%. Looking at GDP by expenditure, private consumption accounted for 78% of GDP in 2020, government consumption 12%, fixed investment 33%, and net exports -23%.

GDP by economic sector
GDP by type of expenditure

International trade:

In 2020, manufactured products made up 21% of total merchandise exports, mineral fuels 8%, food 4%, ores and metals 48% and agricultural raw materials 20%, with other categories accounting for -1% of the total. In the same period, manufactured products made up 51% of total merchandise imports, mineral fuels 17%, food 26%, ores and metals 4% and agricultural raw materials 3%, with other goods accounting for -1% of the total. Total exports were worth USD 2 billion in 2022, while total imports were USD 5 billion.

Key exports
Key imports
Key export partners
Key import partners

Economic growth:

The economy recorded average annual growth of 7.2% in the decade to 2022. To read more about GDP growth in Tajikistan, go to our dedicated page.

Fiscal policy:

Tajikistan's fiscal deficit averaged 2.4% of GDP in the decade to 2022. Find out more on our dedicated page.


The unemployment rate averaged 7.7% in the decade to 2022. For more information on Tajikistan's unemployment click here.


Inflation averaged 6.5% in the decade to 2022. Go to our Tajikistan inflation page for extra insight.

Monetary Policy:

Tajikistan's monetary policy rate ended 2022 at 13.00%, up from 6.50% a decade earlier. See our Tajikistan monetary policy page for additional details.

Exchange Rate:

From end-2012 to end-2022 the somoni weakened by 52.9% vs the U.S. dollar. For more info on the somoni, click here.
Tajikistan was one of the world’s fastest-growing countries last year, expanding 8.3% according to World Bank data. On the expenditure side, soaring investment, government spending and exports of precious metals were key drivers. Turning to 2024, Central Bank data suggests that GDP growth has remained above 8% so far this year; the same data points to a surging industrial sector but a slowdown in agriculture from 2023’s pace. Moreover, remittances should have remained buoyant in the year to date thanks to strong labor demand in Russia, the main source of remittances. This, together with moderate price pressures and more accommodative monetary policy, should have stimulated private expenditure. In addition, fixed investment will have been boosted by construction of the Rogun hydropower plant.
Projections out to 2033.

34 indicators covered including both annual and quarterly frequencies.

Consensus Forecasts based on a panel of 8 expert analysts.

Want to get insight on the economic outlook for Tajikistan in the coming years? FocusEconomics collects projections out to 2033 on 34 economic indicators for Tajikistan from a panel of 8 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Tajikistan economy. To download a sample report on the Tajikistan's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page .

Tajikistan Economic Data

2019 2020 2021 2022 2023
Population (million) 9.3 9.5 9.7 9.8 10.0
GDP (USD bn) 8.3 8.1 8.9 10.7 12.1
GDP per capita (USD) 893 858 925 1,090 1,205
GDP (EUR bn) 7.4 7.1 7.6 10.2 11.2
GDP per capita (EUR) 798 750 782 1,032 1,114
GDP (TJS bn) 79.1 84.0 101.1 118.2 130.8
Economic Growth (Nominal GDP, ann. var. %) 11.3 6.1 20.4 16.9 10.7
Economic Growth (GDP, ann. var. %) 7.4 4.4 9.4 8.0 8.3
Fiscal Balance (% of GDP) -2.0 -4.3 -0.7 -0.2 -1.0
Public Debt (% of GDP) 43.5 49.8 42.5 34.6 -
Inflation (CPI, ann. var. %, aop) 7.8 8.6 9.0 6.6 3.7
Refinancing Rate (%, eop) 12.25 10.75 13.25 13.00 10.00
Exchange Rate (TJS per USD, eop) 9.63 11.28 11.24 10.21 10.95
Exchange Rate (TJS per USD, aop) 9.53 10.33 11.31 11.02 10.84
Exchange Rate (TJS per EUR, eop) 10.81 13.81 12.79 10.90 12.10
Exchange Rate (TJS per EUR, aop) 10.67 11.81 13.38 11.64 11.73
Current Account Balance (USD bn) -0.2 0.3 0.7 1.6 0.6
Current Account Balance (% of GDP) -2.2 4.1 8.2 15.2 4.8
Merchandise Trade Balance (USD bn) -1.9 -1.4 -1.7 -3.0 -3.3
Merchandise Exports (USD bn) 1.0 1.3 2.0 1.6 1.9
Merchandise Imports (USD bn) 2.9 2.7 3.7 4.6 5.2
Merchandise Exports (ann. var. %) 14.5 26.9 58.5 -19.8 15.2
Merchandise Imports (ann. var. %) 5.7 -7.0 37.2 22.8 13.3
Foreign Direct Investment (USD bn) 0.4 0.1 0.1 0.2 0.1
International Reserves (USD bn) 1.5 2.2 2.5 3.8 3.6
International Reserves (months of imports) 6.0 9.9 8.0 10.0 8.4
External Debt (USD bn) 6.6 6.9 7.0 6.7 -
External Debt (% of GDP) 79.9 84.9 78.0 62.9 -

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