DUSHANBE, January 15, 2009, Asia-Plus  -- The main factors that contributed to rise in prices in Tajikistan last year are increasing population’s monetary incomes, labor migrants’ remittances, rising wage rates as well as rise in tax and customs tariff rates, chairman of the National Bank of Tajikistan (NBT) Sharif Rahimzoda remarked, while speaking at a session of the lower house (Majlisi Namoyandagon) of the country’s parliament on January 14.

He noted that inflation for 2008 stood at 11.8 percent instead of the planned 15 percent.  According to him, prices of food products rose 13 during last year, while prices of nonfoods and paid service rendered to the population rose 5.0 percent and 20.6 percent respectively.

Gross domestic product (GDP) rose 7.9 in the year to January 1, 2009, reaching 17.6093 billion somoni.  GDP per capita for 2008 amounted to 2,412 somoni, which was 36.2 percent more than in 2007.

In 2008, the external trade turnover of Tajikistan, including electric energy and natural gas, amounted to $4.5496 billion, which is 116 percent of the 2007 level, central bank head said, noting that like the previous years aluminum, cotton and electrical power were the main items of the country’s exports that amounted to $1.3784 billion last year.

Imports of goods into Tajikistan last year amounted to $3.1712 billion, which is 29 percent more than in 2007.  The overall trade balance remained negative and amounted to $1.7928 billion.

On the somoni exchange rate, Rahimzoda said that it retained steadiness against foreign currencies that are mainly used in the country (US dollar, euro, and Russian ruble) through last year.

An official exchange rate of USD against the Somoni devaluated by 0.4 percent last year, from 3.4649 for the beginning of 2008 to 3.4519 for the end of 2008, according Rahimzoda.

Reserve money increased by 30.4 percent, reaching 1.8496 billion somoni and monetary aggregates increased by 21.8 compared to the beginning of the year.