World Business | Asia | Asia Business | 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.
 

Agriculture - Products
tobacco, cotton, potatoes, vegetables, grapes, fruits and berries; sheep, goats, cattle, wool

Airlines
Airlines in Asia
Airlines Worldwide

Airports
Airports in Asia
Airports Worldwide

Country Budget
revenues: $431.3 million
expenditures: $445.4 million, including capital expenditures of NA (2004 est.)

Currency: soms 

Currency Exchange Rates
soms per US dollar - 42.65 (2004), 43.648 (2003), 46.937 (2002), 48.378 (2001), 47.704 (2000)

Fiscal Year: calendar year

GDP (Gross Domestic Product)
GDP (purchasing power parity): $8.495 billion (2004 est.)
GDP - real growth rate: 6% (2004 est.)
GDP - per capita: purchasing power parity - $1,700 (2004 est.)
GDP - composition by sector:
agriculture: 38.5%
industry: 22.8%
services: 38.7% (2004 est.)

Imports / Exports
Exports: $646.7 million f.o.b. (2004 est.)
Exports - commodities: cotton, wool, meat, tobacco; gold, mercury, uranium, natural gas, hydropower; machinery; shoes
Exports - partners: UAE 28.2%, Russia 19.1%, China 12%, Kazakhstan 11.1%, Switzerland 6.3% (2004)

Imports: $775.1 million f.o.b. (2004 est.)
Imports - commodities: oil and gas, machinery and equipment, chemicals, foodstuffs
Imports - partners: China 26.3%, Russia 22.3%, Kazakhstan 17.1%, Turkey 5.4% (2004)

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

Investing
Forex, Foreign Exchange Market: Currency Trading

Labor Force & Unemployment Rate
Labor force: 2.7 million (2000)
Labor force - by occupation: agriculture 55%, industry 15%, services 30% (2000 est.)
Unemployment rate: 18% (2004 est.)