AEIR 2021

Political turmoil compounded by the pandemic caused GDP to plunge by 8.6% in 2020, the worst since 1994. Industry slumped by 10.3%, reversing its 8.0% growth in 2019, as mining output fell by 22.4%, construction by 16.0% and manufacturing by 7.2%. Agriculture managed to grow by 1.1% in 2020. Both public and private consumption fell, while inflation jumped to 6.3% (from 1.1% in 2019) on rising food prices. The fiscal deficit expanded to 3.3% of GDP in 2020 from 0.1% of GDP in 2019. Imports fell by 26.2%, allowing a current account surplus of 4.5%. Remittances declined initially but recovered after the Russian Federation reopened its borders, eventually growing 2.0% in 2020. As Central Asia and the Russian Federation recover, the economy is forecast to return to 3.5% growth in 2021 and 5.0% in 2022.

Source: Asian Development Outlook 2021.
Latest Month-Ago Year-Ago
Broad Money Growth 1 11.0 (Feb16)11.0 12.1
Headline Inflation Rate 2 8.8 (Apr21)10.2 8.6
Industrial/ Manufacturing Production Growth Rate 2 9.6 (Apr21)-13.7 -21.5
Merchandise Export Growth 2 24.4 (Mar21)24.4 -33.0
Exchange Rate Index 3 204.0 (May21)205.1 185.7
1 %.
2 y-o-y, %.
3 Monthly average, January 2006 = 100, $/local currency.
Source: CEIC database.

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