52315-001 - Strengthening the Investment Climate in the Republic of Tajikistan: Technical Assistance

1. Robust growth but narrow economic base. Tajikistan's economy has grown at more than 7% per annum over the past two decades. The growth contributed to substantial declines in poverty but has been on a small base and Tajikistan remains one of the least well-off countries of the former Soviet Union. Tajikistan's per capita gross national income (Atlas method) in 2017 was $990, with 29.3% (2017) of the population living below the national poverty line. The country's narrow economic base reflects overwhelming reliance on two export commodities, aluminum and cotton, and an import basket that includes most of the country's consumption of food and household items of general use. Remittances, mainly from workers in Russia, have been a major source of foreign exchange, peaking at nearly half the value of GDP in 2013 before declining to 35.8% in 2017.