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Kyrgyzstan
| Economy Overview |
| Kyrgyzstan is a poor, mountainous country with a predominantly agricultural economy. Cotton, tobacco, wool, and meat are the main agricultural products, although only tobacco and cotton are exported in any quantity. Industrial exports include gold, mercury, uranium, and natural gas and electricity. Kyrgyzstan has been fairly progressive in carrying out market reforms, such as an improved regulatory system and land reform. Kyrgyzstan was the first CIS country to be accepted into the World Trade Organization. With fits and starts, inflation has been lowered to an estimated 7% in 2001, 2.1% in 2002, 4% in 2003, and 3.2% in 2004. Much of the government's stock in enterprises has been sold. Drops in production had been severe after the breakup of the Soviet Union in December 1991, but by mid-1995 production began to recover and exports began to increase. Kyrgyzstan has distinguished itself by adopting relatively liberal economic policies. The drop in output at the Kumtor gold mine sparked a 0.5% decline in GDP in 2002, but GDP growth bounced back to 6% in 2003 and 2004. The government has made steady strides in controlling its substantial fiscal deficit and aims to reduce the deficit to 3% of GDP in 2004. The government and the international financial institutions have been engaged in a comprehensive medium-term poverty reduction and economic growth strategy. Further restructuring of domestic industry and success in attracting foreign investment are keys to future growth. |
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| Economy Statistics |
| Exports: |
$646.7 million f.o.b. (2004 est.) [?]
This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Export
Commodities: |
cotton, wool, meat, tobacco; gold, mercury, uranium, natural gas, hydropower; machinery; shoes [?]
This entry provides a rank ordering of exported products starting with the most important; it sometimes includes the percent of total dollar value.
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Export
Partners: |
UAE 28.2%, Russia 19.1%, China 12%, Kazakhstan 11.1%, Switzerland 6.3% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Imports: |
$775.1 million f.o.b. (2004 est.) [?]
This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
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Import
Commodities: |
oil and gas, machinery and equipment, chemicals, foodstuffs [?]
This entry provides a rank ordering of imported products starting with the most important; it sometimes includes the percent of total dollar value.
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Import
Partners: |
China 26.3%, Russia 22.3%, Kazakhstan 17.1%, Turkey 5.4% (2004) [?]
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.
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| Kyrgyz Chamber of Commerce and Industry |
| Address: |
Kievskaya 107, 720001 Bishkek |
| Phone: |
(3312) 210 574 |
| Fax: |
(3312) 210 575 |
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