Kyrgyzstan Economy 2018, CIA World Factbook
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Kyrgyzstan Economy 2018

SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES











Kyrgyzstan Economy 2018
SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 28, 2018

Economy - overview:
Kyrgyzstan is a landlocked, mountainous, lower middle income country with an economy dominated by minerals extraction, agriculture, and reliance on remittances from citizens working abroad. Cotton, wool, and meat are the main agricultural products, although only cotton is exported in any quantity. Other exports include gold, mercury, uranium, natural gas, and - in some years - electricity. The country has sought to attract foreign investment to expand its export base, including construction of hydroelectric dams, but a difficult investment climate and an ongoing legal battle with a Canadian firm over the joint ownership structure of the nation’s largest gold mine deter potential investors. Remittances from Kyrgyz migrant workers, predominantly in Russia and Kazakhstan, are equivalent to over one-quarter of Kyrgyzstan’s GDP.Following independence, Kyrgyzstan rapidly implemented market reforms, such as improving the regulatory system and instituting land reform. In 1998, Kyrgyzstan was the first Commonwealth of Independent States country to be accepted into the World Trade Organization. The government has privatized much of its ownership shares in public enterprises. Despite these reforms, the country suffered a severe drop in production in the early 1990s and has again faced slow growth in recent years as the global financial crisis, declining oil prices, and regional economic headwinds have damaged economies across Central Asia. The Kyrgyz government remains dependent on foreign donor support to finance its annual budget deficit of approximately 3 to 5% of GDP.Kyrgyz leaders hope the country’s August 2015 accession to the Eurasian Economic Union (EAEU) will bolster trade and investment, but slowing economies in Russia and China and low commodity prices continue to hamper economic growth. While joining the EAEU has increased Kyrgyz labor mobility within member states, large-scale trade and investment pledged by Kyrgyz leaders has been slow in developing since accession. Kyrgyz entrepreneurs and politicians alike often contend that non-tariff measures imposed by other EAEU member states, particularly Kazakhstan, are negatively impacting sectors of the Kyrgyz economy that enjoy a comparative advantage, such as meat and dairy production. Since acceding to the EAEU, the Kyrgyz Republic has continued harmonizing its laws and regulations to conform to EAEU standards, though many local entrepreneurs have criticized this process as disjointed and incomplete. The keys to future growth include progress in fighting corruption, improving administrative transparency, restructuring and diversifying domestic industries, and attracting foreign aid and investment.

GDP (purchasing power parity):
$22.64 billion (2017 est.) $21.87 billion (2016 est.) $21.08 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 144

GDP (official exchange rate):
$7.061 billion (2016 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3.5% (2017 est.) 3.8% (2016 est.) 3.5% (2015 est.)
country comparison to the world: 98
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$3,700 (2017 est.) $3,600 (2016 est.) $3,500 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 185

Gross national saving:
22.3% of GDP (2017 est.) 23.8% of GDP (2016 est.) 18.3% of GDP (2015 est.)
country comparison to the world: 73
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 85.8%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 18%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 32.7%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 2.9%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 37.2%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -76.5% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 14.3%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 32.5%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 53.2% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
cotton, potatoes, vegetables, grapes, fruits and berries; sheep, goats, cattle, wool

Industries:
small machinery, textiles, food processing, cement, shoes, lumber, refrigerators, furniture, electric motors, gold, rare earth metals

Industrial production growth rate:
17.3% (2017 est.)
country comparison to the world: 2
[see also: Industrial production growth rate country ranks ]

Labor force:
2.841 million (2017 est.)
country comparison to the world: 107
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 48%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 12.5%
[see also: Labor force - by occupation - industry country ranks ]
services: 39.5% (2005 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
7.4% (2017 est.) 7.5% (2016 est.)
country comparison to the world: 104
[see also: Unemployment rate country ranks ]

Population below poverty line:
32.1% (2015 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 4.4%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 22.9% (2014 est.)

Distribution of family income - Gini index:
33.4 (2007) 29 (2001)
country comparison to the world: 107
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $2.05 billion
[see also: Budget - revenues country ranks ]
expenditures: $2.304 billion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
29% of GDP (2017 est.)
country comparison to the world: 89
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-3.6% of GDP (2017 est.)
country comparison to the world: 135
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
58.4% of GDP (2017 est.) 58.5% of GDP (2016 est.)
country comparison to the world: 79
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
3.8% (2017 est.) 0.4% (2016 est.)
country comparison to the world: 148
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
5% (31 December 2016) 8% (31 December 2015)
country comparison to the world: 79
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
20.1% (31 December 2017 est.) 22.23% (31 December 2016 est.)
country comparison to the world: 15
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$1.82 billion (31 December 2017 est.) $1.411 billion (31 December 2016 est.)
country comparison to the world: 137
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$2.176 billion (31 December 2017 est.) $1.667 billion (31 December 2016 est.)
country comparison to the world: 154
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$1.944 billion (31 December 2017 est.) $1.444 billion (31 December 2016 est.)
country comparison to the world: 152
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$165 million (31 December 2012 est.) $165 million (31 December 2011 est.) $79 million (31 December 2010 est.)
country comparison to the world: 120
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$817 million (2017 est.) -$633 million (2016 est.)
country comparison to the world: 123
[see also: Current account balance country ranks ]

Exports:
$1.768 billion (2017 est.) $1.544 billion (2016 est.)
country comparison to the world: 145
[see also: Exports country ranks ]

Exports - commodities:
gold, cotton, wool, garments, meat; mercury, uranium, electricity; machinery; shoes

Exports - partners:
Switzerland 44.9%, Kazakhstan 10.5%, Russia 10.1%, Uzbekistan 8.7%, Turkey 6.2%, China 5.5% (2016)

Imports:
$4.326 billion (2017 est.) $3.644 billion (2016 est.)
country comparison to the world: 129
[see also: Imports country ranks ]

Imports - commodities:
oil and gas, machinery and equipment, chemicals, foodstuffs

Imports - partners:
China 37.8%, Russia 20.7%, Kazakhstan 16.4%, Turkey 4.9% (2016)

Reserves of foreign exchange and gold:
$2.411 billion (31 December 2017 est.) $1.97 billion (31 December 2016 est.)
country comparison to the world: 113
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$8.679 billion (31 December 2017 est.) $8.182 billion (31 December 2016 est.)
country comparison to the world: 119
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$5.86 billion (31 December 2017 est.) $5.21 billion (31 December 2016 est.)
country comparison to the world: 103
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$675.5 million (31 December 2017 est.) $655.5 million (31 December 2016 est.)
country comparison to the world: 88
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
soms (KGS) per US dollar - 68.35 (2017 est.) 69.914 (2016 est.) 69.914 (2015 est.) 64.462 (2014 est.) 53.654 (2013 est.)


NOTE: 1) The information regarding Kyrgyzstan on this page is re-published from the 2018 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Kyrgyzstan Economy 2018 information contained here. All suggestions for corrections of any errors about Kyrgyzstan Economy 2018 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) The assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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