Kyrgyzstan Economy - 2024

Economic overview

landlocked, lower-middle-income Central Asian economy; natural resource rich; growing hydroelectricity and tourism; high remittances; corruption limits investment; COVID-19 and political turmoil hurt GDP, limited public revenues, and increased spending

Real GDP (purchasing power parity)

$32.221 billion (2021 est.)
$31.098 billion (2020 est.)
$33.949 billion (2019 est.)

note: data are in 2017 dollars

Real GDP growth rate

3.61% (2021 est.)
-8.4% (2020 est.)
4.6% (2019 est.)

Real GDP per capita

$4,800 (2021 est.)
$4,700 (2020 est.)
$5,300 (2019 est.)

note: data are in 2017 dollars

GDP (official exchange rate)

$8.442 billion (2019 est.)

Inflation rate (consumer prices)

11.91% (2021 est.)
6.33% (2020 est.)
1.13% (2019 est.)

Credit ratings

Moody's rating: B2 (2015)

Standard & Poors rating: NR (2016)

note: The year refers to the year in which the current credit rating was first obtained.

GDP - composition, by sector of origin

agriculture: 14.6% (2017 est.)

industry: 31.2% (2017 est.)

services: 54.2% (2017 est.)

GDP - composition, by end use

household consumption: 85.4% (2017 est.)

government consumption: 18.9% (2017 est.)

investment in fixed capital: 33.2% (2017 est.)

investment in inventories: 1.8% (2017 est.)

exports of goods and services: 39.7% (2017 est.)

imports of goods and services: -79% (2017 est.)

Agricultural products

milk, potatoes, sugar beets, maize, wheat, barley, tomatoes, watermelons, onions, carrots/turnips

Industries

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

Industrial production growth rate

3.1% (2021 est.)

Labor force

2.478 million (2021 est.)

Unemployment rate

9.1% (2021 est.)
8.71% (2020 est.)
6.92% (2019 est.)

Youth unemployment rate (ages 15-24)

total: 19.3% (2021 est.)

male: 15.6%

female: 27.3%

Population below poverty line

20.1% (2019 est.)

Gini Index coefficient - distribution of family income

29 (2020 est.)

Household income or consumption by percentage share

lowest 10%: 4.4%

highest 10%: 22.9% (2014 est.)

Remittances

32.69% of GDP (2021 est.)
31.14% of GDP (2020 est.)
27.17% of GDP (2019 est.)

Budget

revenues: $2.878 billion (2019 est.)

expenditures: $2.89 billion (2019 est.)

Budget surplus (+) or deficit (-)

-3.2% (of GDP) (2017 est.)

Public debt

72.23% of GDP (2020 est.)
54.23% of GDP (2019 est.)
51.66% of GDP (2018 est.)

Taxes and other revenues

14.92% (of GDP) (2020 est.)

Fiscal year

calendar year

Current account balance

-$743.363 million (2021 est.)
$374.257 million (2020 est.)
-$1.067 billion (2019 est.)

Exports

$3.35 billion (2021 est.) note: data are in current year dollars
$2.435 billion (2020 est.) note: data are in current year dollars
$3.108 billion (2019 est.)

Exports - partners

United Kingdom 56%, Kazakhstan 13%, Russia 13%, Uzbekistan 5% (2019)

Exports - commodities

gold, float glass, precious metals, kidney beans, refined petroleum, scrap copper, dried fruits (2021)

Imports

$5.919 billion (2021 est.) note: data are in current year dollars
$4.051 billion (2020 est.) note: data are in current year dollars
$5.67 billion (2019 est.)

Imports - partners

China 53%, Russia 17%, Kazakhstan 7%, Uzbekistan 7%, Turkey 5% (2019)

Imports - commodities

refined petroleum, footwear, clothing and apparel, broadcasting equipment, walnuts (2019)

Reserves of foreign exchange and gold

$2.983 billion (31 December 2021 est.)
$2.812 billion (31 December 2020 est.)
$2.429 billion (31 December 2019 est.)

Debt - external

$8.372 billion (2019 est.)
$8.066 billion (2018 est.)

Exchange rates

soms (KGS) per US dollar -

Exchange rates:
84.641 (2021 est.)
77.346 (2020 est.)
69.789 (2019 est.)
68.84 (2018 est.)
68.867 (2017 est.)