Central Asia

Regional Developments


Kamiljon Akramov, Allen Park, and Jarilkasin Ilyasov

 

 

 

Severe external shocks—including falling oil, natural gas, and gold prices and economic slowdowns in the region’s main trading partners (Russia and China)—have weighed on households in Central Asia in recent years. Yet 2016 saw some signs of stabilization as well as rising levels of remittances from migrant workers in Russia. In response to the slowdown in Russia and China, Central Asian countries are turning to agricultural diversification, including the development of horticulture and exports, and moving toward greater regional integration.