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You are here : AllRefer.com > Reference > World > Countries > Kyrgyzstan > Kyrgyzstan - Economy

Kyrgyzstan: Economy

Economy Kyrgyzstan
Economy - overview:
Kyrgyzstan is a small, 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, and natural gas and electricity. Kyrgyzstan has been fairly progressive in carrying out market reforms, such as an improved regulatory system and land reform. Kyrgyzstan was the first CIS country to be accepted into the World Trade Organization. With fits and starts, inflation has been lowered to an estimated 7% in 2001, 2.1% in 2002, and 4.0% in 2003. 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. Growth was held down to 2.1% in 1998 largely because of the spillover from Russia's economic difficulties, but moved ahead to 3.6% in 1999, 5% in 2000, and 5% again in 2001. The drop in output at the Kumtor gold mine sparked a 0.5% decline in GDP in 2002 and again in 2003. On the positive side, the government and the international financial institutions have been engaged in a comprehensive medium-term poverty reduction and economic growth strategy. Further restructuring of domestic industry and success in attracting foreign investment are keys to future growth.
GDP:
purchasing power parity - $13.88 billion (2002 est.)
GDP - real growth rate:
5.3% (2002 est.)
GDP - per capita:
purchasing power parity - $2,900 (2002 est.)
GDP - composition by sector:
agriculture: 35%
industry: 25%
services: 40% (2002 est.)
Population below poverty line:
55% (2001 est.)
Household income or consumption by percentage share:
lowest 10%: 3.2%
highest 10%: 27.7% (1999)
Distribution of family income - Gini index:
34.6 (1999)
Inflation rate (consumer prices):
2.1% (2002 est.)
Labor force:
2.7 million (2000)
Labor force - by occupation:
agriculture 55%, industry 15%, services 30% (2000 est.)
Unemployment rate:
7.2% (1999 est.)
Budget:
revenues: $207.4 million
expenditures: $238.7 million, including capital expenditures of $NA (1999 est.)
Industries:
small machinery, textiles, food processing, cement, shoes, sawn logs, refrigerators, furniture, electric motors, gold, rare earth metals
Industrial production growth rate:
6% (2000 est.)
Electricity - production:
13.45 billion kWh (2001)
Electricity - production by source:
fossil fuel: 7.6%
hydro: 92.4%
other: 0% (2001)
nuclear: 0%
Electricity - consumption:
10.46 billion kWh (2001)
Electricity - exports:
2.25 billion kWh (2001)
Electricity - imports:
200 million kWh (2001)
Oil - production:
2,000 bbl/day (2001 est.)
Oil - consumption:
20,000 bbl/day (2001 est.)
Oil - exports:
NA (2001)
Oil - imports:
NA (2001)
Natural gas - production:
16 million cu m (2001 est.)
Natural gas - consumption:
2.016 billion cu m (2001 est.)
Natural gas - exports:
0 cu m (2001 est.)
Natural gas - imports:
2 billion cu m (2001 est.)
Agriculture - products:
tobacco, cotton, potatoes, vegetables, grapes, fruits and berries; sheep, goats, cattle, wool
Exports:
$488 million f.o.b. (2002 est.)
Exports - commodities:
cotton, wool, meat, tobacco; gold, mercury, uranium, natural gas, hydropower; machinery; shoes
Exports - partners:
Switzerland 19.9%, Russia 16.5%, UAE 14.2%, China 8.5%, Kazakhstan 7.6%, US 7.4%, Uzbekistan 5.7% (2002)
Imports:
$587 million f.o.b. (2002 est.)
Imports - commodities:
oil and gas, machinery and equipment, chemicals, foodstuffs
Imports - partners:
Kazakhstan 21.1%, Russia 19.9%, Uzbekistan 10.2%, China 10.1%, US 8.1%, Germany 5.3% (2002)
Debt - external:
$1.5 billion (2002 est.)
Economic aid - recipient:
$50 million from the US (2001)
Currency:
Kyrgyzstani som (KGS)
Currency code:
KGS
Exchange rates:
soms per US dollar - 46.94 (2002), 48.38 (2001), 47.7 (2000), 39.01 (1999), 20.84 (1998)
Fiscal year:
calendar year

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Source: The CIA World Fact Book 2003

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