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, 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. 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. Kyrgyzstan has distinguished itself by adopting relatively liberal economic policies. The drop in output at the Kumtor gold mine sparked a 0.5% decline in GDP in 2002, but GDP growth bounced back to nearly 6% in 2003-05. The government has made steady strides in controlling its substantial fiscal deficit and reduced the deficit to 1% of GDP in 2005. The government and the international financial institutions have been engaged in a comprehensive medium-term poverty reduction and economic growth strategy, and in 2005 agreed to pursue much-needed tax reform. Progress fighting corruption, further restructuring of domestic industry, and success in attracting foreign investment are keys to future growth. |
GDP - per capita | $1,800 (2005 est.) |
GDP - real growth rate (%) | 2% (2005 est.) |
Agriculture - products | tobacco, cotton, potatoes, vegetables, grapes, fruits and berries; sheep, goats, cattle, wool |
GDP - composition by sector (%) | agriculture: 37.1%, industry: 21.9%, services: 41% (2005 est.) |
Industries | small machinery, textiles, food processing, cement, shoes, sawn logs, refrigerators, furniture, electric motors, gold, rare earth metals |
Economic aid - recipient | $50 million from the US (2001) |
Debt - external | $2.428 billion (31 December 2004 est.) |
Population below poverty line (%) | 40% (2004 est.) |
Labor force - by occupation (%) | agriculture 55%, industry 15%, services 30% (2000 est.) |