DYNAMICS AND FACTORS OF SERVICES EXPORTS DEVELOPMENT OF CENTRAL ASIAN COUNTRIES

Abstract

The export of services plays a crucial role in enhancing the export potential of Central Asian countries and diversifying their export portfolios. This article presents an econometric analysis of the key factors influencing service exports, utilizing statistical data from Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan from 2000 to 2021. The analysis employs various methodologies, including fixed effects, random effects, GLS, and fixed effects with Driscoll-Kraay standard errors. The findings reveal that UNCTAD's ICT index and the category "Private Sector," along with GDP per capita, significantly contribute to the growth of services exports in Central Asian countries. On the other hand, population size negatively affects the volume of services exported by the countries analyzed. Based on the results obtained, recommendations were developed to boost traditional and modern services exports from Central Asian countries.