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EconomyEconomy - overview
Kyrgyzstan is a poor, mountainous country with a dominant agricultural sector. 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. The economy depends heavily on gold exports - mainly from output at the Kumtor gold mine. Following independence, Kyrgyzstan was progressive in carrying out market reforms, such as an improved regulatory system and land reform. 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. In 2005, the BAKIEV government and international financial institutions initiated a comprehensive medium-term poverty reduction and economic growth strategy. The government made steady strides in controlling its substantial fiscal deficit, nearly closing the gap between revenues and expenditures in 2006, before boosting expenditures more than 20% in 2007-08. GDP grew about 8% annually in 2007-08, partly due to higher gold prices internationally, but slowed to 2.9% in 2009. The overthrow of President BAKIEV in April 2010 and subsequent ethnic clashes left hundreds dead and damaged infrastructure. Shrinking trade and agricultural production, as well as political instability, caused GDP to contract 0.4% in 2010. The fiscal deficit widened to 11% of GDP, reflecting significant increases in crisis-related spending, including both rehabilitation of damaged infrastructure and bank recapitalization. The economy grew 5.7% in 2011, and the budget deficit was reduced to just over 5% of GDP. Progress in reconstruction, fighting corruption, restructuring domestic industry, and attracting foreign aid and investment are key to future growth. Gdp (purchasing power parity) World Ranking: 143
$13.29 billion (2011 est.)
$12.58 billion (2010 est.) $12.64 billion (2009 est.) Note Data are in 2011 US dollars Gdp (official exchange rate)
$5.92 billion (2011 est.)
Gdp - real growth rate World Ranking: 51
5.7% (2011 est.)
-0.5% (2010 est.) 2.9% (2009 est.) Gdp - per capita (ppp) World Ranking: 182
$2,400 (2011 est.)
$2,300 (2010 est.) $2,300 (2009 est.) Note Data are in 2011 US dollars Gdp - composition by sector
Agriculture 20.1%
Industry 28.8% Services 51.1% (2011 est.) Labor force World Ranking: 114
2.344 million (2007)
Labor force - by occupation
Agriculture 48%
Industry 12.5% Services 39.5% (2005 est.) Unemployment rate World Ranking: 101
8.6% (2011 est.)
18% (2004 est.) Population below poverty line
33.7% (2011 est.)
Household income or consumption by percentage share
Lowest 10% 2.8%
Highest 10% 27.8% (2009 est.) Distribution of family income - gini index World Ranking: 96
33.4 (2007)
29 (2001) Investment (gross fixed) World Ranking: 31
27% of GDP (2011 est.)
Budget
Revenues $1.686 billion
Expenditures $1.979 billion (2011 est.) Taxes and other revenues World Ranking: 101
28.5% of GDP (2011 est.)
Budget surplus (+) or deficit (-) World Ranking: 154
-4.9% of GDP (2011 est.)
Inflation rate (consumer prices) World Ranking: 209
16.6% (2011 est.)
8% (2010 est.) Central bank discount rate World Ranking: 107
13.73% (22 December 2011 est.)
2.5% (31 December 2010 est.) Commercial bank prime lending rate World Ranking: 5
40.21% (31 December 2011 est.)
29.425% (31 December 2010 est.) Stock of narrow money World Ranking: 140
$1.372 billion (31 December 2011 est.) $1.051 billion (31 December 2010 est.) Stock of broad money World Ranking: 153
$1.667 billion (31 December 2011 est.) $1.255 billion (31 December 2010 est.) Stock of domestic credit World Ranking: 164
$765.9 million (31 December 2011 est.) $577.5 million (31 December 2010 est.) Market value of publicly traded shares World Ranking: 115
$165 million (31 December 2011) $79 million (31 December 2010)$71.84 million (31 December 2009) 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 World Ranking: 15
10% (2011 est.)
Electricity - production World Ranking: 80
14.9 billion kWh (2011 est.)
Electricity - consumption World Ranking: 98
7.474 billion kWh (2008 est.)
Electricity - exports
2.62 billion kWh (2011 est.)
Electricity - imports
535 million kWh (2008 est.)
Oil - production World Ranking: 106
946.2 bbl/day (2010 est.)
Oil - consumption World Ranking: 137
16,000 bbl/day (2010 est.)
Oil - exports World Ranking: 111
2,042 bbl/day (2009 est.)
Oil - imports World Ranking: 122
15,940 bbl/day (2009 est.)
Oil - proved reserves World Ranking: 81
40 million bbl (1 January 2011 est.) Natural gas - production World Ranking: 89
15.4 million cu m (2009 est.)
Natural gas - consumption World Ranking: 92
665.4 million cu m (2009 est.)
Natural gas - exports World Ranking: 128
0 cu m (2009 est.)
Natural gas - imports World Ranking: 65
640 million cu m (2009 est.)
Natural gas - proved reserves World Ranking: 89
5.663 billion cu m (1 January 2011 est.) Current account balance World Ranking: 81
-$177.5 million (2011 est.)
-$466.9 million (2010 est.) Exports World Ranking: 136
$2.278 billion (2011 est.)
$1.779 billion (2010 est.) Exports - commodities
Gold, cotton, wool, garments, meat, tobacco; mercury, uranium, hydropower; machinery; shoes Exports - partners
Uzbekistan 25.4%, Russia 22.2%, Kazakhstan 20.1%, China 7.8%, UAE 5.5%, Afghanistan 5%, Turkey 4.2% (2011) Imports World Ranking: 135
$3.947 billion (2011 est.)
$2.981 billion (2010 est.) Imports - commodities
Oil and gas, machinery and equipment, chemicals, foodstuffs Imports - partners
China 59.8%, Russia 13.9%, Kazakhstan 5.2% (2011) Reserves of foreign exchange and gold World Ranking: 122
$1.835 billion (31 December 2011 est.) $1.72 billion (31 December 2010 est.) Debt - external World Ranking: 129
$3.601 billion (31 December 2011 est.) $3.984 billion (31 December 2010 est.) Stock of direct foreign investment - at home World Ranking: 92
$NA $1.409 billion
$1.034 billion Stock of direct foreign investment - abroad World Ranking: 90
$NA $1.5 million
$1.5 million Exchange rates
Soms (KGS) per US dollar -
46.144 (2011 est.) 45.964 (2010 est.) 42.905 (2009) 36.108 (2008) 37.746 (2007) Fiscal year
Calendar year
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Kyrgyzstan (Bishkek):
 
GPS points from Kyrgyzstan (Bishkek)
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A Central Asian country of incredible natural beauty and proud nomadic traditions, most of Kyrgyzstan was formally annexed to Russia in 1876. The Kyrgyz staged a major revolt against the Tsarist Empire in 1916 in which almost one-sixth of the Kyrgyz population was killed. Kyrgyzstan became a Soviet republic in 1936 and achieved independence in 1991 when the USSR dissolved. Nationwide demonstrations in the spring of 2005 resulted in the ouster of President Askar AKAEV, who had run the country since 1990. Subsequent presidential elections in July 2005 were won overwhelmingly by former prime minister Kurmanbek BAKIEV. Over the next few years, the new president manipulated the parliament to accrue new powers for himself. In July 2009, after months of harassment against his opponents and media critics, BAKIEV won re-election in a presidential campaign that the international community deemed flawed. In April 2010, nationwide protests led to the resignation and expulsion of BAKIEV. His successor, Roza OTUNBAEVA, served as transitional president until Almazbek ATAMBAEV was inaugurated in December 2011. Continuing concerns include: the trajectory of democratization, endemic corruption, poor interethnic relations, and terrorism.