DUSHANBE, Tajikistan, October 22. The Eurasian Development Bank (EDB) believes that the extractive and energy sectors are driving stable growth in Tajikistan's industrial sector, Trend reports.
According to the bank’s report, industrial production accelerated to a year-on-year growth rate of 13.2 percent from January through August, up from 11.5 percent in the first half of the year, primarily due to a 23.7 percent increase in extractive industries.
In the energy sector, performance returned to positive territory, with a year-on-year growth of 1.2 percent from January through August and a notable 19.9 percent growth in August alone. The decline in the first half of the year was largely due to weather conditions that affected hydropower productivity.
The manufacturing sector grew by 6.7 percent year-on-year in the same period, down from the 11 percent growth rate in the first half of the year. The textile and metallurgy industries' deceleration is responsible for this slowdown.
The contribution of manufacturing industries to overall industrial growth decreased to 3.8 percentage points from 6.325 percentage points in the first half of the year.
Agricultural growth also slowed to 1.8 percent year-over-year from January to August, down from 9.6 percent in the first half of the year.
The EDB expects the agricultural sector to recover by the end of the year, with a delayed harvest in the third quarter primarily due to the cold spring of 2024.