| Economy | Kyrgyzstan |
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Economy - 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. Bishkek agreed to pursue much needed tax reform and, in 2006, became eligible for the heavily indebted poor countries (HIPC) initiative. 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 1.4% 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 rebounded in 2011 due to the increased government spending, high gold prices, and increased remittances. Progress in reconstruction, fighting corruption, restructuring domestic industry, and attracting foreign aid and investment are key to future growth. |
GDP (purchasing power parity):
|
$13.16 billion (2011 est.)
$12.34 billion (2010 est.)
$12.44 billion (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
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$2,400 (2011 est.)
$2,200 (2010 est.)
$2,300 (2009 est.)
note: data are in 2011 US dollars |
GDP (official exchange rate):
|
$5.4 billion (2011 est.) |
GDP - real growth rate:
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7% (2011 est.)
-1.4% (2010 est.)
2.9% (2009 est.) |
GDP - composition by sector:
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agriculture: 20.2%
industry: 27.8%
services: 51.9% (2011 est.) |
Investment (gross fixed):
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30.2% of GDP (2011 est.) |
Population below poverty line:
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40% (2004 est.) |
Household income or consumption by percentage share:
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lowest 10%: 4.1%
highest 10%: 27.9% (2007) |
Distribution of family income - Gini index:
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33.4 (2007)
29 (2001) |
Inflation rate (consumer prices):
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18.6% (2011 est.)
8% (2010 est.) |
Central bank discount rate:
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2.5% (31 December 2010 est.)
15.11% (31 December 2009 est.) |
Commercial bank prime lending rate:
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37% (31 December 2011 est.)
29.425% (31 December 2010 est.) |
Stock of money:
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$NA (31 December 2008)
$911.1 million (31 December 2007) |
Stock of money - per capita:
|
1 USD per capita |
Stock of quasi money:
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$NA (31 December 2008)
$303.7 million (31 December 2007) |
Stock of quasi money - per capita:
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void |
Stock of domestic credit:
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$516.1 million (31 December 2011 est.)
$552 million (31 December 2010 est.) |
Stock of domestic credit - per capita:
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93 USD per capita |
Stock of narrow money:
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$670.5 million (31 December 2011 est.)
$771.8 million (31 December 2010 est.) |
Stock of broad money:
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$1.122 billion (31 December 2011 est.)
$1.2 billion (31 December 2010 est.) |
Labor force:
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2.344 million (2007) |
Labor force participation rate:
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41.95 % of population |
Labor force - by occupation:
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agriculture: 48%
industry: 12.5%
services: 39.5% (2005 est.) |
Unemployment rate:
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18% (2004 est.) |
Unemployment, youth ages 15-24:
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total: 14.6%
male: 13.6%
female: 16.2% (2006) |
Budget:
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revenues: $1.316 billion
expenditures: $1.644 billion (2011 est.) |
Budget revenues per capita:
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236 USD per capita |
Taxes and other revenues:
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24.4% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
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-6.1% of GDP (2011 est.) |
Public debt:
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void |
Industries:
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small machinery, textiles, food processing, cement, shoes, sawn logs, refrigerators, furniture, electric motors, gold, rare earth metals |
Industrial production growth rate:
|
5% (2011 est.) |
Electricity - production:
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11.7 billion kWh (2008 est.) |
Electricity - production per capita:
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2,094 kWh per capita |
Electricity - consumption:
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7.474 billion kWh (2008 est.) |
Electricity - consumption - per capita:
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1,338 kWh per capita |
Electricity - exports:
|
913 million kWh (2009 est.) |
Electricity - imports:
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535 million kWh (2008 est.) |
Oil - production:
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946.2 bbl/day (2010 est.) |
Oil - production per capita:
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170 bbl/day per capita |
Oil - consumption:
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16,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
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1.05 bbl/year per capita |
Oil - exports:
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2,042 bbl/day (2009 est.) |
Oil - imports:
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15,940 bbl/day (2009 est.) |
Oil - proved reserves:
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40 million bbl (1 January 2011 est.) |
Natural gas - production:
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15.4 million cu m (2009 est.) |
Natural gas - production per capita:
|
3 cu m per capita |
Natural gas - consumption:
|
665.4 million cu m (2009 est.) |
Natural gas - consumption - per capita:
|
120 cu m per capita |
Natural gas - exports:
|
0 cu m (2009 est.) |
Natural gas - imports:
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640 million cu m (2009 est.) |
Natural gas - proved reserves:
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5.663 billion cu m (1 January 2011 est.) |
Agriculture - products:
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tobacco, cotton, potatoes, vegetables, grapes, fruits and berries; sheep, goats, cattle, wool |
Current account balance:
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-$318.5 million (2011 est.)
-$269.8 million (2010 est.) |
Current account balance - per capita:
|
-57 USD per capita |
Exports:
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$2.327 billion (2011 est.)
$1.783 billion (2010 est.) |
Exports per capita:
|
417 USD per capita |
Exports - commodities:
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cotton, wool, meat, tobacco; gold, mercury, uranium, natural gas, hydropower; machinery; shoes |
Exports - partners:
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Russia 35.7%, Uzbekistan 21.9%, Kazakhstan 17.3%, China 5.4%, UAE 4.6%, Afghanistan 4.3% (2010) |
Imports:
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$3.71 billion (2011 est.)
$2.981 billion (2010 est.) |
Imports per capita:
|
664 USD per capita |
Imports - commodities:
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oil and gas, machinery and equipment, chemicals, foodstuffs |
Imports - partners:
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China 61%, Russia 17.2%, Kazakhstan 5.7% (2010) |
Reserves of foreign exchange and gold:
|
$1.913 billion (31 December 2011 est.)
$1.72 billion (31 December 2010 est.) |
Reserves of foreign exchange and gold - per capita:
|
343 USD per capita |
Debt - external:
|
$3.738 billion (30 June 2010)
$3.467 billion (31 December 2008) |
Debt - external - per capita:
|
670 USD per capita |
Stock of direct foreign investment - at home:
|
$NA (31 December 2009 est.) |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
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$NA |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
$79 million (31 December 2010)
$71.84 million (31 December 2009)
$93.79 million (31 December 2008) |
Market value of publicly traded shares - per capita:
|
15 USD per capita |
Currency (code):
|
som (KGS) |
Exchange rates:
|
soms (KGS) per US dollar -
46.05 (2011 est.)
45.966 (2010 est.)
42.905 (2009)
36.108 (2008)
37.746 (2007) |
Fiscal year:
|
calendar year |
|
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