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Economy of Tajikistan

Tajikistan is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developing nation, Tajikistan may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. Each year, Tajikistan exports around $1.16 billion and imports roughly $4.12 billion. 10.3% of population in the country are unemployed. The total number of unemployed people in Tajikistan is 938,043. In Tajikistan, 35.6% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Tajikistan is fairly high, but is not reason for complete concern with regard to investments. Potential financial backers should look at other economic markers, including GDP, urbanization rate, and strength of currency, before making any decisions regarding investments. Government expenditure on education is 3.5% of GDP. The Gini Index of the country is 32.6. Tajikistan is experiencing good equality. The majority of citizens in Tajikistan fall within a narrow range of income, although some cases may show significant differences. Tajikistan has a Human Development Index (HDI) of 0.607. Tajikistan has an upper medium HDI score. This indicates that the majority of citizens will be able to attain a desirable life, though some citizens will not be able to achieve high living standards. The Global Peace Index (GPI) for Tajikistan is 2.152. The strength of legal rights index for Tajikistan is 1. Overall, it is considered to be rather weak - bankrupcy and collateral laws are unable to protect the rights of borrowers and lenders in case of credit-related complications; credit information, if any at all, is scarce and hardly accessible.

Currency

The currency of Tajikistan is Tajikistani somoni. The plural form of the word Tajikistani somoni is somonis. The symbol used for this currency is ЅМ, and it is abbreviated as TJS. The Tajikistani somoni is divided into Diram; there are 100 in one somoni.

Credit rating

Credit rating is the extent to which international investors trust a country in paying debts and upholding the country's obligations in terms of crediting. There is no information on the credit rating of Tajikistan.

Central bank

In Tajikistan, the institution that manages the state's currency, money supply, and interest rates is called National Bank of Tajikistan. Locally, the central bank of Tajikistan is called Бонки миллии Тоҷикистон. The average deposit interest rate offered by local banks in Tajikistan is 5.5%.

Public debt

Tajikistan has a government debt of 6.5% of the country's Gross Domestic Product (GDP), as assessed in 2010.

Tax information

The corporate tax in Tajikistan is set at 15%. Personal income tax ranges from 8% to 25%, depending on your specific situation and income level. VAT in Tajikistan is 18%.

Finances

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Tajikistan is $22402 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Tajikistan was last recorded at $2 million. PPP in Tajikistan is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Tajikistan is 8,506 billion. Based on this statistic, Tajikistan is considered to have a medium economy. Countries with medium economies support an average number of industries and opportunities for investment. It should not be too difficult to find worthwhile investment opportunities in medium economies. The Gross Domestic Product (GDP) per capita in Tajikistan was last recorded at $1 million. The average citizen in Tajikistan has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Tajikistan averaged 6% in 2014. According to this percentage, Tajikistan is currently experiencing significant growth. Countries that are experiencing significant growth offer the best chance for a substantial return on investment, as GDP growth rate is the most important indicator of economic health. As GDP grows, business, jobs, and personal income grow as well. To read more about financial information click on finances of Tajikistan.

Industry

Major industries in the country are aluminum, cement, vegetable oil. The total labor force of Tajikistan is 3,422,970 people, wherein 10.3% of population in the country are unemployed. The total number of unemployed people in Tajikistan is 938,043. The Industrial Production growth rate of Tajikistan is 7.5%.To read more about industrial information within Tajikistan click on industry of Tajikistan.

Agriculture

There are 9304 km2 of arable land in Tajikistan, and it comprises 6% of the country's total territory. There are 10574 km2 of cultivated land in Tajikistan. The country's major agricultural crops and products are cotton, grain, fruits, grapes, vegetables, cattle, sheep, goats.To read more about agriculture click on agriculture of Tajikistan.