Kyrgyzstan Humanitarian Response - Who What Where

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Economy - overview

 Kyrgyzstan is a mountainous country with a predominantly agricultural economy. Cotton, tobacco, wool, and meat are the main agricultural products, although some tobacco and cotton are also exported. 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.

Investment (gross fixed): 17% of GDP (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)

Agriculture - products: tobacco, cotton, potatoes, vegetables, grapes, fruits and berries; sheep, goats, cattle, wool

Industrial production growth rate: 6% (2000 est.)

Electricity

  • production: 11,720 GWh (2002)
  • consumption: 10,210 GWh (2002)
  • exports: 1,062 GWh (2002)
  • imports: 375 GWh (2002)
Oil
  • production: 2,000 barrel/day (2001 est.)
  • consumption: 20,000 barrel/day (2001 est.)
  • exports: NA
  • imports: NA

Natural gas:

  • production: 16 million m³ (2001 est.)
  • consumption: 2.016 billion m³ (2001 est.)
  • exports: 0 m³ (2001 est.)
  • imports: 2 billion m³ (2001 est.)

Current account balance: $-87.92 million (2004 est.)

Exports - commodities: cotton, wool, meat, tobacco; gold, mercury, uranium, natural gas, hydropower; machinery; shoes

Imports - commodities: oil and gas, machinery and equipment, chemicals, foodstuffs

Reserves of foreign exchange & gold: $498.7 million (2004 est.)

Exchange rates: soms per US dollar - 41.731 (2004), 43.6484 (2003), 46.9371 (2002), 48.378 (2001), 47.7038 (2000)


 

Source: Wikipedia

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