The devaluation of the ruble could unbalanced trade versa of Tajikistan and Russia

Almaty. December 23. Silkroadnews - The National Bank of Tajikistan believe that the devaluation of the ruble could make the imbalance in trade turnover between Tajikistan and Russia, thereby adversely affect the economic relations between the two countries, reported the Tajik news agency (TajikTA).
As noted, in January-October 2014 compared to the same period in 2013, the growth of trade with Russia amounted to 41.8%, which is due to the increase of import and export by 27.6% and 5.6%, respectively.
In this case, impairment of one of the currencies of two countries of trading partners (Russian ruble) will help to reduce the cost and attractiveness of goods imported from that country. Given the fact that the Russian market traditionally for Tajik economy is the main trade partner and most is imported from Russia, in the short term devaluation will stimulate the growth of import.
However, the devaluation of the Russian ruble may have an indirect effect on the economy of Tajikistan and bilateral economic relations as a whole through the real value of remittances from Russia. Taking into account that in Tajikistan total inflow and outflow of foreign currency share of the Russian ruble is 52.6% and 23.2% respectively, it is clear that it can affect the domestic foreign exchange market.
According to experts of NBT, this trend is intermittent, as the decrease of the pressure on the exchange rate market  will return economy to its equilibrium point.