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Economy of Afghanistan

Afghanistan Economy Profile 2013 Economy- Afghanistan’s economy is recovering from decades of conflict. The economy has improved significantly since the fall of the Taliban regime in 2001 largely because of the infusion of international assistance, the recovery of the agricultural sector, and service sector growth. Despite the progress of the past few years, Afghanistan is extremely poor, landlocked, and highly dependent on foreign aid. Much of the population continues to suffer from shortages of housing, clean water, electricity, medical care, and Jobs.

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Criminality, insecurity, weak governance, lack of nfrastructure, and the Afghan Government’s difficulty in extending rule of law to all parts of the country pose challenges to future economic growth. Afghanistan’s living standards are among the lowest in the world. The international community remains committed to Afghanistan’s development, pledging over $67 billion at nine donors’ conferences between 2003-10. In July 2012, the donors at the Tokyo conference pledged an additional $16 billion in civilian aid through 2016.

Despite this help, the Government of Afghanistan will need to overcome a number of challenges, including ow revenue collection, anemic Job creation, high levels of corruption, weak government capacity, and poor public infrastructure. GDP (purchasing power parity) $33. 55 billion (2012 est. ) $30. 22 billion (2011 est. ) $28. 57 billion (2010 est. ) note: data are in 2012 US dollars GDP (official exchange rate) $19. 85 billion (2012 est. ) GDP – real growth rate (2012 est. ) 5. 8% (2011 est. ) 8. 4% (2010 est. ) GDP – per capita (PPP) $1,000 (2012 est. $1,000 (2011 est. ) $900 (2010 est. ) GDP – composition by sector agriculture: 20% industry: 25. 6% services: 54. 4% note: data exclude opium production (2011 est. Population below poverty line 36% (FY08/09) Labor force 15 million (2004 est. ) agriculture: 78. 6% industry: 5. 7% services: 15. 7% (FY08/09 est. ) Unemployment rate 35% (2008 est. ) (2005 est. ) Household income or consumption by percentage share lowest 10%: 3. 8% highest 10%: (2008) Budget revenues: $2. 243 billion expenditures: $3. 963 billion note: Afghanistan received $15. billion in 2010/2011 (2012 est. ) Taxes and other revenues 1 1. 3% of GDP (2012 est. ) Budget surplus (+) or deficit (-) -8. 7% of GDP (2011 est. ) Inflation rate (consumer prices) 13. 8% (2011 est. ) 0. 9% (2010 est. ) Commercial bank prime lending rate 15. 03% (31 December 2011 est. ) 15. 69% (31 December 2010 est. ) Stock of money $1. 688 billion (31 December 2008) $1. 426 billion (31 December 2007) Stock of narrow money $5. 928 billion (31 December 2011 est. ) $5. 307 billion (31 December 2010 est. ) Stock of broad money $6. 351 billion (31 December 2011 est. ) $5. 71 billion (31 December 2010 est. ) Stock of quasi money $1. 219 billion (31 December 2008) $958. 6 million (31 December 2007) Stock of domestic credit $363. 6 million (31 December 2008 est. ) $20. 06 million (31 December 2007 est. ) Market value of publicly traded shares NA Agriculture – products opium, wheat, fruits, nuts; wool, mutton, sheepskins, lambskins Industries small-scale production of bricks, textiles, soap, furniture, shoes, fertilizer, apparel, food-products, non-alcoholic beverages, mineral water, cement; handwoven carpets; Current Account Balance -$743. million (2011 est. ) -$736 million (2010 est. ) Exports $376 million (2012 est. ) $388 million (2011 est. ) note: not including illicit exports or reexports Exports – commodities opium, fruits and nuts, handwoven carpets, wool, cotton, hides and pelts, precious and semi-precious gems Exports – partners Pakistan 48%, India 19%, Russia 9%, Iran 5% (FYI 1/12 est. ) Imports $6. 39 billion (2012 est. ) $5. 154 billion (2011 est. Imports – commodities machinery and other capital goods, food, textiles, petroleum products Imports – partners Pakistan 13. 7%, Russia 12. 6%, Uzbekistan 1 1. 5%, Iran 9. 1% (FYI 1/12 est. ) Reserves of foreign exchange and gold $5. 268 billion (31 December 2011 est. ) $4,174 billion (2010 est. ) Debt – external $1. 28 billion (FYIO/11) $2. 7 billion (FY08/09) Exchange rates afghanis (AFA) per US dollar – 51 (2012 est. ) 46. 75 (2011 est. ) 46. 45 (2010) Fiscal year 21 December – 20 December

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