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EDB notes industrial production growth in Tajikistan

17 June 2024 [19:41] - TODAY.AZ

Industrial production growth in Tajikistan surged to 13.1 percent year-on-year in April 2024, up from 1.4 percent in March, Azernews reports.

According to data disclosed by the Eurasian Development Bank (EDB), this acceleration was driven by a recovery in electricity generation.

The energy sector saw output increase by 0.4 percent year-on-year in April, following a 32.8 percent decline in March caused by low reservoir levels. Additionally, improvements were noted in the manufacturing sectors, including food processing, textiles, and construction materials production.

Moreover, retail trade maintained strong growth, recording an 11.8 percent year-on-year increase in April, compared to 10.6 percent in March. Investment growth also accelerated to 4.1 percent year-on-year, following a 3.2 percent decline in March.

According to Tajikistan's National Statistical Agency, industrial production in Tajikistan in 2023, including that of private entrepreneurs, totaled 46.815 billion somoni ($4.279 billion), which is a 12 percent increase compared to 2022 at comparable prices.

Tajikistan's current industrialization strategy for 2022–2026, known as the Years of Industrial Development, intends to raise industrial output by 2.5 times within five years. The strategy aims to raise 95 billion somoni ($9.3 billion) by 2026, up from 39 billion somoni ($3.7 billion) in 2021, and includes plans to construct more than 870 new industrial enterprises.

URL: http://www.today.az/news/regions/249662.html

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