Economy of Kyrgyzstan

According to Healy Consultants, Kyrgyzstan's economy relies heavily on the strength of industrial exports, with plentiful reserves of gold, mercury and uranium.

Kyrgyzstan's economic performance has been hindered by widespread corruption, low foreign investment and general regional instability.

In October 2012, the International reserves and Foreign Currency Liquidity of Kyrgyzstan National Bank reached US$1.96 bln, 8.6% of which is in gold.

In 2012, to diversify the assets of Kyrgyzstan, the basket of currencies has been expanded by means of the Chinese yuan and the Singapore dollar.

Grain production in the lower valleys and livestock grazing on upland pastures occupy the largest share of the agricultural workforce.

A particular target of this policy is the Kara–Keche deposit in northern Kyrgyzstan, whose annual output capability is estimated at between 500,000 and 1 million tons.

[19] In the post-Soviet era, Kyrgyzstan's industries suffered sharp reductions in productivity because the supply of raw materials and fuels was disrupted, and Soviet markets disappeared.

Government support is moving away from the machine industries, which were a major contributor to the Soviet economy, toward clothing and textiles.

In recent years, the glass industry has surpassed clothing and textiles in investment received and as a contributor to GDP.

It has limited deposits of fossil fuels and most of its natural gas imports come from Uzbekistan, with which Kyrgyzstan has had a series of imperfect barter agreements.

Because of its rich supply of hydroelectric power, Kyrgyzstan sends electricity to Kazakhstan and Uzbekistan in return for fossil fuels.

An antiquated infrastructure and poor management make Kyrgyzstan more dependent on foreign energy in winter when water levels are low.

[21] The South Korean style manufactured bituminous coal called yeontan (йонтан) is gaining popularity in Kyrgyzstan's energy industrial scene.

Although Kyrgyzstan's mountains and lakes are an attractive tourist destination, the tourism industry has grown very slowly because it has received little investment.

In turn, the Republic relies on other former Soviet states for petroleum and natural gas, ferrous metals, chemicals, most machinery, wood and paper products, some foods, and most construction materials.

Kyrgyzstan's major exports include gold, cotton, wool, garments, meat, mercury, uranium, electricity, machinery, and shoes.

[25] The Kyrgyzstan Government has reduced expenditures, ended most price subsidies, and introduced a value added tax.

Overall, the government appears committed to transferring to a free market economic system by stabilizing the economy and implementing reforms, which will encourage long-term growth.

[30] This is a chart of trend of gross domestic product of Kyrgyzstan at market prices estimated by the International Monetary Fund and EconStats with figures in millions of Kyrgyz Soms.

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.)

Irrigated fields in the Chuy Valley
Glamping in Kyrgyzstan
Refinery factory in Kyrgyzstan