Flag description:
red field with a yellow sun in the center having 40 rays
representing the 40 Kyrgyz tribes; on the obverse side the rays run
counterclockwise, on the reverse, clockwise; in the center of the
sun is a red ring crossed by two sets of three lines, a stylized
representation of the roof of the traditional Kyrgyz yurt
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. Following independence Kyrgyzstan was
progressive in carrying out market reforms, such as an improved
regulatory system and land reform, but political instability during
2005-06 has undercut the investment climate. 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. 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, but GDP growth bounced back
the following year. In 2005 Kyrgyzstan again experienced a decline
in GDP, this time 0.6%. The government has made steady strides in
controlling its substantial fiscal deficit, virtually balancing
revenues and expenditures in 2006. 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.
Progress fighting corruption, further restructuring of domestic
industry, and success in attracting foreign investment are keys to
future growth.
GDP (purchasing power parity):
$10.49 billion (2006 est.)
GDP (official exchange rate):
$2.24 billion (2006 est.)
GDP - real growth rate:
2% (2006 est.)
GDP - per capita (PPP):
$2,000 (2006 est.)
GDP - composition by sector: agriculture: 34.5% industry: 19.5% services: 46.1% (2006 est.)
Labor force: 2.7 million (2000)
Labor force - by occupation: agriculture: 55% industry: 15% services: 30% (2000 est.)