IEA welcomes World Bank report on Afghanistan’s economy

KABUL (Agencies): The Deputy Prime Minister for Economic Affairs of Islamic Emirate of Afghanistan (IEA) on Thursday welcomed the recent World Bank report on Afghanistan’s economy.

The office says that facts related to the country’s economic situation are reflected in the report.

Mullah Abdul Ghani Baradar’s office said in a statement that “the Islamic Emirate believes that if the international community pays attention to positive interaction instead of imposing restrictions, Afghanistan will progress further in the economic field and the burden of responsibility on the shoulders of the international community will be reduced.” “If all international organizations such as the World Bank present a true picture of the concrete realities of Afghanistan, the way of positive interaction with the Islamic Emirate will be paved,” the statement read.

The World Bank report states that Afghanistan’s exports and imports have increased, monetary stability has been maintained, and domestic revenues have increased.

According to the report, during January to April 2023, imports stood at $2.4 billion, reflecting a 27 percent growth against the same period last year.

Iran remains the most significant import origin country (21 percent), followed by Pakistan (18 percent), China (16 percent), and the United Arab Emirates (13 percent), the World Bank reported.

However, the Jan-Apr 2023 merchandise trade deficit at $1.8 billion is 38 percent higher than the $1.3 billion observed in the comparable period of 2022.

Unofficial data for January to April this year indicates that Afghanistan’s customs show total exports reached $0.6 billion — a 4 percent rise compared to the same period in 2022.

The export growth during Jan-Apr 2023 can primarily be attributed to an increase in the exports of coal, by 13 percent, and textiles by 14 percent, the report stated.

Pakistan remains Afghanistan’s largest export market accounting for 63 percent of total exports, followed by India (26 percent). Exports to Pakistan are mainly food and coal. Coal exports to Pakistan amounted to $140.7 million in Jan- Apr 2023 – 13 percent higher than the coal exports in the comparable period last year.