Economy of 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, natural gas, and electricity. Following independence Kyrgyzstan was progressive in carrying out market reforms, such as an improved regulatory system and land reform, but political instability during 2005-06 has undercut the investment climate. Kyrgyzstan was the first Commonwealth of Independent States (CIS) country to be accepted into the World Trade Organization. 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. The economy is heavily weighted toward gold export and a drop in output at the main Kumtor gold mine sparked a 0.5% decline in GDP in 2002, but GDP growth bounced back the following year. In 2005 Kyrgyzstan again experienced a decline in GDP, this time 0.6%. The government has made steady strides in controlling its substantial fiscal deficit, nearly closing the gap between revenues and expenditures in 2006. The government and international financial institutions have been engaged in a comprehensive medium-term poverty reduction and economic growth strategy; in 2005 Bishkek agreed to pursue much-needed tax reform and in 2006 became eligible for the heavily indebted poor countries (HIPC) initiative. Progress fighting corruption, further restructuring of domestic industry, and success in attracting foreign investment are keys to future growth. |
| GDP (purchasing power parity): | $10.73 billion (2006 est.) |
| GDP (official exchange rate): | $2.255 billion (2006 est.) |
| GDP - real growth rate: | 2.7% (2006 est.) |
| GDP - per capita (PPP): | $2,100 (2006 est.) |
| GDP - composition by sector: | agriculture: 34.5% industry: 19.5% services: 46.1% (2006 est.) |
| Labor force: | 2.7 million (2000) |
| Labor force - by occupation: | agriculture: 55% industry: 15% services: 30% (2000 est.) |
| Unemployment rate: | 18% (2004 est.) |
| Population below poverty line: | 40% (2004 est.) |
| Household income or consumption by percentage share: | lowest 10%: 3.9% highest 10%: 23.3% (2001) |
| Distribution of family income - Gini index: | 29 (2001) |
| Inflation rate (consumer prices): | 6.4% (2006 est.) |
| Investment (gross fixed): | 15.5% of GDP (2006 est.) |
| Budget: | revenues: $498.3 million expenditures: $544.8 million; including capital expenditures of $NA (2006 est.) |
| Agriculture - products: | tobacco, cotton, potatoes, vegetables, grapes, fruits and berries; sheep, goats, cattle, wool |
| Industries: | small machinery, textiles, food processing, cement, shoes, sawn logs, refrigerators, furniture, electric motors, gold, rare earth metals |
| Industrial production growth rate: | -4.5% (2006 est.) |
| Electricity - production: | 14.06 billion kWh (2004) |
| Electricity - production by source: | fossil fuel: 7.6% hydro: 92.4% nuclear: 0% other: 0% (2001) |
| Electricity - consumption: | 6.777 billion kWh (2004) |
| Electricity - exports: | 6.4 billion kWh (2004) |
| Electricity - imports: | 100 million kWh (2004) |
| Oil - production: | 1,378 bbl/day (2004) |
| Oil - consumption: | 10,000 bbl/day (2004 est.) |
| Oil - exports: | NA bbl/day |
| Oil - imports: | NA bbl/day |
| Oil - proved reserves: | 40 million bbl |
| Natural gas - production: | 29 million cu m (2004 est.) |
| Natural gas - consumption: | 919 million cu m (2004 est.) |
| Natural gas - exports: | 0 cu m (2004 est.) |
| Natural gas - imports: | 890 million cu m (2004 est.) |
| Current account balance: | -$287.3 million (2006 est.) |
| Exports: | $701.8 million f.o.b. (2006 est.) |
| Exports - commodities: | cotton, wool, meat, tobacco; gold, mercury, uranium, natural gas, hydropower; machinery; shoes |
| Exports - partners: | UAE 35.8%, Russia 20.2%, Kazakhstan 13.1%, China 11.8% (2006) |
| Imports: | $1.177 billion f.o.b. (2006 est.) |
| Imports - commodities: | oil and gas, machinery and equipment, chemicals, foodstuffs |
| Imports - partners: | China 56.8%, Russia 15.1%, Kazakhstan 8.1% (2006) |
| Reserves of foreign exchange and gold: | $621.2 million (2006 est.) |
| Debt - external: | $2.483 billion (30 June 2006 est.) |
| Economic aid - recipient: | $50 million from the US (2001) |
| Currency (code): | som (KGS) |
| Currency code: | KGS |
| Exchange rates: | soms per US dollar - 40.149 (2006), 41.012 (2005), 42.65 (2004), 43.648 (2003), 46.937 (2002) |
| Fiscal year: | calendar year |