Kyrgyzstan's Macroeconomic Analysis:
Nominal GDP of USD 11.5 billion in 2022.
Nominal GDP of USD 14.0 billion in 2023.
GDP per capita of USD 2,018 compared to the global average of USD 10,589.
GDP per capita of USD 1,700 compared to the global average of USD 10,589.
Average real GDP growth of 3.7% over the last decade.
Average real GDP growth of 4% over the last decade.
Sector Analysis
In 2021, services accounted for 59% of overall GDP, manufacturing 13%, other industrial activity 13%, and agriculture 15%. Looking at GDP by expenditure, private consumption accounted for 84% of GDP in 2021, government consumption 18%, fixed investment 27%, and net exports -29%.International trade
In 2021, manufactured products made up 39% of total merchandise exports, mineral fuels 6%, food 18%, ores and metals 15% and agricultural raw materials 3%, with other categories accounting for 19% of the total. In the same period, manufactured products made up 68% of total merchandise imports, mineral fuels 15%, food 15%, ores and metals 1% and agricultural raw materials 1%, with other goods accounting for 0% of the total. Total exports were worth USD 2 billion in 2022, while total imports were USD 9 billion.Main Economic Indicators
Economic growthThe economy recorded average annual growth of 3.7% in the decade to 2022. To read more about GDP growth in Kyrgyzstan, go to our dedicated page.
Fiscal policy
Kyrgyzstan's fiscal deficit averaged 2.7% of GDP in the decade to 2022. Find out more on our dedicated page.
Unemployment
The unemployment rate averaged 2.6% in the decade to 2022. For more information on Kyrgyzstan's unemployment click here.
Inflation
Inflation averaged 5.6% in the decade to 2022. Go to our Kyrgyzstan inflation page for extra insight.
Monetary Policy
Kyrgyzstan's monetary policy rate ended 2022 at 13.00%, up from 2.64% a decade earlier. See our Kyrgyzstan monetary policy page for additional details.
Exchange Rate
From end-2012 to end-2022 the som weakened by 44.7% vs the U.S. dollar. For more info on the som, click here.
Economic situation in Kyrgyzstan
The economy gained momentum in Q3, expanding 8.4% in January–September, compared to January–June’s 8.1% increase. Industrial production growth accelerated notably, fueled by an improvement in manufacturing production. In addition, agricultural output grew at a faster pace in the nine-month period from H1. Moreover, exports of goods and services rose faster in January–August compared to the first half of the year, pointing to sturdier external demand. That said, stronger price pressures in Q3 weighed on household budgets, with retail sales decelerating from the previous quarter. Moreover, fixed investment decelerated in Q3 from H1 levels. In other news, in mid-October, rail operators from China, Kyrgyzstan and Uzbekistan held their first meeting on a new railway project linking the three countries, which would reduce reliance on Russia.Kyrgyzstan Economic Forecasts
Projections out to 2034.37 indicators covered including both annual and quarterly frequencies.
Consensus Forecasts based on a panel of 9 expert analysts.
Want to get insight on the economic outlook for Kyrgyzstan in the coming years? FocusEconomics collects projections out to 2034 on 37 economic indicators for Kyrgyzstan from a panel of 9 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Kyrgyzstan economy. To download a sample report on the Kyrgyzstan's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.