Tuesday, July 31, 2012 -
Tajikistan’s export revenues dropped 24.9 percent in the first quarter 2012 owing to a fall in global cotton prices, the Eurasian Development Bank (EDB) said Tuesday.
Despite that, Tajikistan’s national economy continued a strong growth trend by gaining 7.2 percent in the comparable period, the lender said in its CIS Macromonitor report.
The quarterly survey showed that national production of cotton fiber increased by 1.2 times year-on-year in the January-March 2012 period. As a result, cotton fiber exports were up 65.1 percent for the period.
The report noted that the textile and sewing sectors grew by 80 percent in the three-month period by the same comparison.
On a broader level industrial production rose 14.6 percent in Q1 2012 versus the same period last year.
CIS Macromonitor is produced by the bank’s EDB Analytic Unit that analyzes the macroeconomic conditions within the member countries of the Commonwealth of Independent States.
The international financier was created by Kazakhstan and Russia in 2006 to assist former Soviet countries. Its members also comprise Tajikistan, Belarus, and Armenia.