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World > Middle East > Kyrgyzstan > Economy (Facts)

Kyrgyzstan - Economy (Facts)
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 - real growth rate: 2.7% (2006 est.)
GDP (purchasing power parity): $10.73 billion (2006 est.)
GDP (official exchange rate): $2.255 billion (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.)
Population below poverty line: 40% (2004 est.)
Household income or consumption by percentage share: lowest 10%: 3.9%
highest 10%: 23.3% (2001)
Inflation rate (consumer prices): 6.4% (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.)
Budget: revenues: $498.3 million
expenditures: $544.8 million; including capital expenditures of NA (2006 est.)
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 - 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 - exports: 0 cu m (2004 est.)
Natural gas - imports: 890 million cu m (2004 est.)
Agriculture - products: tobacco, cotton, potatoes, vegetables, grapes, fruits and berries; sheep, goats, cattle, wool
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)
Debt - external: $2.483 billion (30 June 2006 est.)
Economic aid - recipient: $50 million from the US (2001)
Currency: 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


Facts at a Glance: Geography - People - Government - Economy - Communications - Transportation - Military - Climate - Current Time - Ranking Positions
Notes and Commentary: People - Economy - Government and Political Conditions - Foreign Relations - Relations with U.S.



Facts at a Glance
Geography
People
Government
Economy
Communications
Transportation
Military
Climate
Current Time
Ranking Positions


Notes and Commentary
People
Economy
Government and Political Conditions
Foreign Relations
Relations with U.S.





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