Economy of Afghanistan

Basically, Afghanistan has been a war-torn country with ongoing military conflicts and political instability affecting the economic growth of the country. The economy of Afghanistan can be categorized as poor and unstable as it lacks proper industrialization and absence of well-developed manufacturing and infrastructure facilities. Since Afghanistan is a land locked country, majority of the region is uncultivable as they are semi-arid and comprise of hilly terrains. One of the important aspects of Afghan economy lies in the fact that it is totally dependent on foreign aid and assistance received mainly from the G-8 countries. The G.D.P growth has been 14% while inflation rate is 16.3%.

To know more about the economy of Afghanistan, here's sharing with you some information as---

Agriculture and Natural Resources of Afghanistan

Though Afghanistan is a vast country, yet only half of its area is fertile. However, agriculture is the main source of survival for majority of the Afghans living in the rural areas. Nearly 2/3rd of its agricultural lands require irrigation facilities which are of course available through preservation of rain water or through small springs or rivers. The major cash crops of Afghanistan are--- wheat, corn, rice and cotton, widely cultivated in different parts of the country. Moreover fruits and nuts are also exported far and wide which inevitably serves as a major revenue for Afghanistan. Other varieties of fruits that are widely grown are-- apricots, cherries, figs, mulberries, sweet grapes, melons pomegranates and raisins. It's important to note that Karakul sheep, a special variety of sheep found in Afghanistan are grazed in large numbers and the Karakul lambs are widely used to make Persian lamb coats. An overview of the economy of Afghanistan remains incomplete without mentioning its wide and rich natural resources as-- natural gas, zinc, petroleum, coal, chromites, talc, sulfur, copper lead, iron ore, barites, precious and valuable stones.

Trade and Industries of Afghanistan

Since the earlier times, the economic development of Afghanistan has hampered because of constant conflicts and war which has totally demoralized the phase of industrialization of the country. The large deposits of oil found in the Hindu Kush and in parts of northern Afghanistan were being utilized for various internal purposes and have also been exported to other countries especially the bordering nations of Russia and Pakistan. Afghan handicrafts consisting of Afghan rugs, carpets, bridal embroidered works are in great demand in international market. There has not been much growth of factories in Afghanistan however; the capital city of Kabul houses some woolen and textile manufacturing industries, footwear manufacturing houses and fruit-processing plants.

In recent times, with the usherance of a new government slight economic upsurge have been witnessed with new industries being developed. Infrastructure facilities such as roads, rail communication and electricity have been upgraded to enhance a good living standard in Afghanistan.

 

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