Economy Kyrgyzstan
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. Kyrgyzstan has been 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
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 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 (purchasing power parity):
$10.08 billion (2005 est.)
GDP (official exchange rate):
$2.144 billion (2005 est.)
GDP - real growth rate:
-0.6% (2005 est.)
GDP - per capita (PPP):
$2,000 (2005 est.)
GDP - composition by sector: agriculture: 35.3% industry: 20.8% services: 43.9% (2005 est.)
Labor force: 2.7 million (2000)
Labor force - by occupation: agriculture: 55% industry: 15% services: 30% (2000 est.)
Unemployment rate:
18% (2004 est.)