Average salary trends in Central Asia in 2024

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Kazakhstan stands out as the leader in terms of average wages among Central Asian countries, according to recent data reported by Ranking.kz.

Data from the CIS Interstate Statistics Committee reveals that, as of September 2024, the average nominal salary in Kazakhstan was $817.2, nearly double that of Uzbekistan ($437.8) and Kyrgyzstan ($411.2). Tajikistan, with a salary of $242.8, remains significantly behind Kazakhstan, at 3.4 times lower than its neighbor.

However, the wage gap between Kazakhstan and Tajikistan may have been even larger were it not for significant growth in Tajikistan’s wages over the past year. The source indicates that Tajikistan saw a 24.9% increase in nominal wages year-on-year by September 2024, with real wages rising by 21.1%. These represent the highest wage growth rates in the region. In comparison, Kazakhstan, Kyrgyzstan, and Uzbekistan exhibited more modest wage dynamics. Official data on nominal wages in Turkmenistan is not currently available, as the last update on the website of the State Statistics Committee of Turkmenistan dates back to 2023.

Kazakhstan also leads in terms of minimum wages. In 2024, the minimum wage in Kazakhstan stood at 85,000 tenge (2,118,463 soums), or approximately 181.1 USD. By contrast, minimum wages in other Central Asian countries were considerably lower: Uzbekistan’s minimum wage was $89.4 (1,160,334 soums), Tajikistan’s was $54.9, and Kyrgyzstan’s was just $28.3. While Turkmenistan’s minimum wage might appear higher in dollar terms ($402.9), this figure is misleading. The wage conversion is based on the official exchange rate of the National Bank of Turkmenistan, where 1 USD equals 3.5 Turkmen manats. However, experts suggest that this official rate is not reflective of the actual exchange rate, as most transactions in the country occur at the “black market” rate, ranging from 1 to 19 manats to the dollar. As a result, the true minimum wage in Turkmenistan is closer to $74.2.

An infographic comparing the ratio of the minimum wage to the average wage across the region illustrates stark differences. For example, Kyrgyzstan’s minimum wage is the lowest in Central Asia, comprising only 6.9% of the average wage. This may suggest a lower level of social security, as the minimum wage is often a key indicator in calculating various benefits. In Kazakhstan, the minimum wage accounts for 21.8% of the average salary, while the highest ratio is seen in Tajikistan, where the minimum wage represents 30.9% of the average wage.

The publication also analyzed nominal wages across different sectors of the economy based on data from national statistical offices. This comparison reveals disparities in sectoral wages without accounting for their respective weight in each country’s economy or the number of people employed in each sector, as well as national currency fluctuations.

A general trend shows that in all four Central Asian countries, the highest nominal salaries are found in the finance and insurance sectors. However, there are notable differences between countries: in Kazakhstan, employees in finance and insurance earn over $1,700, three times the average salary in Tajikistan, where the same sector’s average is $561.9. In Kazakhstan, the finance and mining sectors are the highest-paying industries. In Tajikistan, top earners are found in the manufacturing and service sectors, in addition to the financial sector. Uzbekistan stands out for its high salaries in the finance and IT sectors, with salaries exceeding $1,000, a trend also observed in Kyrgyzstan.

Sectors with the lowest wages across Central Asia show some similarities, particularly in education, healthcare, the agro-industrial complex, and municipal services.

The largest Central Asian countries—Kazakhstan, Kyrgyzstan, and Uzbekistan—share relatively low living costs compared to European nations. However, the purchasing power of wages in these countries is considerably lower than in the US and Europe. For instance, in January 2024, Uzbekistan's purchasing power index, according to Numbeo.com, was 44.5. This indicates that the average salary in Uzbekistan can purchase only half the goods and services that the same salary would buy in New York, which has a purchasing power index of 100. Kyrgyzstan fares even worse, with local wages purchasing nearly 65% fewer goods and services than in New York.

Both wage levels and inflation play a crucial role in shaping the purchasing power of citizens in Central Asia. Reports from the CIS Interstate Statistical Committee show that Kazakhstan and Uzbekistan are experiencing the highest inflation rates. This is clearly illustrated in a recent graph, which shows that between January and October 2024, the inflation curves for Kazakhstan and Uzbekistan rose significantly more than those in Kyrgyzstan and Tajikistan. By October 2024, prices in Uzbekistan had risen by 7.7% compared to December 2023, while Kazakhstan saw a 6.6% increase. Kyrgyzstan's inflation was much lower at 4.2%, and Tajikistan’s prices increased by just 3.2%.
 


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Qozog'iston Tojikiston O'zbekiston Qirg'iziston Turkmaniston Markaziy Osiyo davlatlari maosh miqdori

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