Central Asia: Economy | Asian Development Bank

Central Asia: Economy

Central Asia economic data and statistics from the latest Asian Development Outlook are highlighted on this page.

The outlook for the subregion has brightened thanks to stable oil prices, improving prospects for the Russian Federation, and rising remittances. Growth is now projected at 3.3% in 2017 and 3.9% in 2018, up from earlier forecasts of 3.1% and 3.5%, with improved projections for Kazakhstan. Forecast inflation is raised to 8.9% in 2017 and 7.8% in 2018, mostly from higher inflation in Azerbaijan and Uzbekistan. The current account deficit is now expected at 3.4% in 2017 and 2.0% in 2018, wider than earlier projected mostly because of deterioration in Azerbaijan and Kazakhstan. Read more from Asian Development Outlook 2017 Update.


Economic forecasts for Central Asian countries

Country 2017f 2018f
Armenia 3.8 3.0
Azerbaijan 1.3 1.0
Georgia 4.2 4.5
Kazakhstan 2.7 3.0
Kyrgyz Republic 4.0 4.0
Tajikistan 5.0 5.5
Turkmenistan 6.5 6.5
Uzbekistan 6.8 7.5
Average 3.3 3.9
Country 2017f 2018f
Armenia 1.2 1.8
Azerbaijan 14.0 10.0
Georgia 5.7 4.0
Kazakhstan 8.0 7.0
Kyrgyz Republic 3.5 5.0
Tajikistan 8.0 7.5
Turkmenistan 5.7 5.5
Uzbekistan 11.5 12.0
Average 8.9 7.8
Country 2017f 2018f
Armenia –2.5 –2.3
Azerbaijan 5.6 11.0
Georgia –12.0 –11.5
Kazakhstan –4.5 –3.5
Kyrgyz Republic –13.0 –13.5
Tajikistan –5.5 –6.0
Turkmenistan –12.8 –12.4
Uzbekistan 0.1 0.5
Average –3.4 –2.0

f = forecast number.

Source: Asian Development Outlook 2017 Update