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Kyrgyzstan:
Economy

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Kyrgyzstan Page


Economy - overview
Definition
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. 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 and a 0.6% decline in 2005. GDP grew more than 6% in 2007, partly due to higher gold prices internationally. 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. 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)
Definition - World rank and map
$10.5 billion (2007 est.)
GDP (official exchange rate)
Definition
$3.748 billion (2007 est.)
GDP - real growth rate
Definition - World rank and map
8.2% (2007 est.)
GDP - per capita
Definition - World rank and map
$2,000 (2007 est.)
GDP - composition by sector
Definition
agriculture: 30.9%
industry: 19.9%
services: 49.1% (2007 est.)
Labor force
Definition
2.7 million (2000)
Labor force - by occupation
Definition
agriculture: 55%
industry: 15%
services: 30% (2000 est.)
Unemployment rate
Definition - World rank and map
18% (2004 est.)
Population below poverty line
Definition
40% (2004 est.)
Household income or consumption by percentage share
Definition
lowest 10%: 3.8%
highest 10%: 24.3% (2003)
Distribution of family income - Gini index
Definition - World rank and map
30.3 (2003)
Inflation rate (consumer prices)
Definition - World rank and map
10.2% (2007 est.)
Investment (gross fixed)
Definition - World rank and map
15.4% of GDP (2007 est.)
Budget
Definition
revenues: $920.8 million
expenditures: $993.3 million (2007 est.)
Agriculture - products
Definition
tobacco, cotton, potatoes, vegetables, grapes, fruits and berries; sheep, goats, cattle, wool
Industries
Definition
small machinery, textiles, food processing, cement, shoes, sawn logs, refrigerators, furniture, electric motors, gold, rare earth metals
Industrial production growth rate
Definition - World rank and map
7.3% (2007 est.)
Electricity - production
Definition - World rank and map
15.15 billion kWh (2005)
Electricity - consumption
Definition - World rank and map
8.206 billion kWh (2005)
Electricity - consumption per capita
Definition - World rank and map
1,531.9 kWh (2005)
Electricity - exports
Definition
2.684 billion kWh (2005)
Electricity - imports
Definition
0 kWh (2005)
Oil - production
Definition - World rank and map
1,965 bbl/day (2005)
Oil - consumption
Definition - World rank and map
12,000 bbl/day (2005 est.)
Oil - consumption per 1,000 people
Definition - World rank and map
2.2 bbl/day (2005 est.)
Oil - exports
Definition - World rank and map
3,221 bbl/day (2004)
Oil - imports
Definition - World rank and map
13,770 bbl/day (2004)
Oil - proved reserves
Definition - World rank and map
40 million bbl (1 January 2006 est.)
Natural gas - production
Definition - World rank and map
28.77 million cu m (2005 est.)
Natural gas - consumption
Definition - World rank and map
709.7 million cu m (2005 est.)
Natural gas - consumption per capita
Definition - World rank and map
132 cu m (2005 est.)
Natural gas - exports
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - imports
Definition - World rank and map
680.9 million cu m (2005)
Natural gas - proved reserves
Definition - World rank and map
5.432 billion cu m (1 January 2006 est.)
Current account balance
Definition - World rank and map
-$244 million (2007 est.)
Exports
Definition - World rank and map
$1.04 billion f.o.b. (2007 est.)
Exports - commodities
Definition
cotton, wool, meat, tobacco; gold, mercury, uranium, natural gas, hydropower; machinery; shoes
Exports - partners
Definition
Switzerland 21.3%, Kazakhstan 20.1%, Russia 18.3%, Afghanistan 13.6%, China 8% (2006)
Imports
Definition - World rank and map
$2.509 billion f.o.b. (2007 est.)
Imports - commodities
Definition
oil and gas, machinery and equipment, chemicals, foodstuffs
Imports - partners
Definition
China 61.9%, Russia 16.5%, Kazakhstan 4.8% (2006)
Reserves of foreign exchange and gold
Definition - World rank and map
$1.177 billion (31 December 2007 est.)
Debt - external
Definition - World rank and map
$2.966 billion (30 June 2007)
Stock of direct foreign investment - at home
Definition
$NA
Stock of direct foreign investment - abroad
Definition
$NA
Market value of publicly traded shares
Definition
$41.99 million (2005)
Economic aid - recipient
Definition
$268.5 million from the US (2005)
Currency (code)
Definition
som (KGS)
Exchange rates
Definition
soms per US dollar - 37.746 (2007), 40.149 (2006), 41.012 (2005), 42.65 (2004), 43.648 (2003)
Fiscal year
Definition
calendar year


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