On July 31st, Afghanistan's Ministry of Industry and Commerce issued a report detailing the country's trade performance for the past year. The figures show $1.8 billion in exports and over $8 billion in imports, highlighting a substantial trade imbalance and a high reliance on foreign goods and services.
The report noted increases in exports to several countries: Kazakhstan saw a 2.5% rise, China experienced a 16% boost, Iran's exports grew by 19%, Turkey saw a 53% increase, and exports to Russia surged by 54%. Additionally, the year saw the launch of 100 new production facilities, the granting of approximately 1,000 industrial licenses, and the renewal of over 23,000 investment permits.
Job creation has also been a significant focus, with direct employment opportunities rising to 646,015 and indirect opportunities reaching around 4.4 million. These developments are attributed to the expansion of small and medium enterprises and various economic initiatives.
According to the National Statistics and Information Authority, the total value of exports and imports for the fiscal year 1402 was $10.3 billion. Despite these positive developments, the considerable gap between exports and imports underscores ongoing challenges and potential risks in Afghanistan's trade strategy. Addressing this imbalance will be crucial for building a more sustainable and resilient economic environment.
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