Assessment of the Trend and Development of Regional Economy in Central Asia

Assessment the trend of regional economic development is significant to address the economic situation and developmental policy. This study assesses the regional economic development in Central Asia since 1992. Several developmental indicators were applied. The results demonstrated that the regional economy was gradually growing. Relatively, Kazakhstan, Uzbekistan and Turkmenistan enjoyed a rapid economic growth. Production of oil increased in Kazakhstan as exporting rose to China whereas declined in Uzbekistan – shifted to natural gas. Central Asia is moving gradually toward industrial and trade economic sector. Nevertheless, enormous natural resources were exported from Central Asia to China and Russia, and strong economic relationship was established with Europe, India and Algeria. Therefore, this research is significant for general understanding in economic growth of Central Asia, and it may be helpful for further studies.