Kyrgyzstan

Economics, Political, and Trade Overview

Source: Feb 10, 2022 Economist Intelligence Unit

Kyrgyzstan - In Short.

Overview of Kyrgyzstan

A Central Asian country of incredible natural beauty and proud nomadic traditions, most of the territory of present-day Kyrgyzstan was formally annexed by the Russian Empire in 1876. The Kyrgyz staged a major revolt against the Tsarist Empire in 1916 in which almost one-sixth of the Kyrgyz population was killed. Kyrgyzstan became a Soviet republic in 1926 and achieved independence in 1991 when the USSR dissolved. Nationwide demonstrations in 2005 and 2010 resulted in the ouster of the country’s first two presidents, Askar AKAEV and Kurmanbek BAKIEV. Interim President Roza OTUNBAEVA led a transitional government and following a nation-wide election, President Almazbek ATAMBAEV was sworn in as president in 2011. In 2017, ATAMBAEV became the first Kyrgyzstani president to step down after serving one full six-year term as required in the country’s constitution. Former prime minister and ruling Social-Democratic Party of Kyrgyzstan member Sooronbay JEENBEKOV replaced him after winning the 2017 presidential election that was the most competitive in the country’s history, although international and local election observers noted cases of vote buying and abuse of public resources. In October 2020, protests against legislative election results spread across Kyrgyzstan, leading to JEENBEKOV’s resignation from the presidency, and catapulting previously imprisoned Sadyr JAPAROV to acting president. In January 2021, Kyrgyzstanis formerly elected JAPAROV as president and approved a referendum to move Kyrgyzstan from a parliamentary to a presidential system. In April 2021, Kyrgyzstanis voted in favor of draft constitutional changes that consolidated power in the presidency. Preliminary results from the legislative election in November 2021 suggest that pro-government parties will hold a majority in the Jogorku Kengesh (Kyrgyzstan’s legislature). Continuing concerns for Kyrgyzstan include the trajectory of democratization, endemic corruption, a history of tense, and at times violent, interethnic relations, border security vulnerabilities, and potential terrorist threats.  
Value
Country Full Name
Kyrgyzstan
Country Code
KGZ
Region
Europe & Central Asia
Income Group
Lower middle income
Currency Unit
GDP
7735976273
Population
6579900
Land Area
191800
Net National Income Per Capita
792.2285775
GDP per Capita (PPP)
4973.561309

2020 GDP Growth Rate (Current USD)

2020 GDP Per Capita (Current USD)

2020 Urbanization Rate (%)

2020 Total Fertility Rate (Birth Per Woman)

Doing Business Score (100= Most Friendly)

Kyrgyzstan - Economic

Economy of Kyrgyzstan

Kyrgyzstan is a landlocked, mountainous, lower middle income country with an economy dominated by minerals extraction, agriculture, and reliance on remittances from citizens working abroad. Cotton, wool, and meat are the main agricultural products, although only cotton is exported in any quantity. Other exports include gold, mercury, uranium, natural gas, and – in some years – electricity. The country has sought to attract foreign investment to expand its export base, including construction of hydroelectric dams, but a difficult investment climate and an ongoing legal battle with a Canadian firm over the joint ownership structure of the nation’s largest gold mine deter potential investors. Remittances from Kyrgyz migrant workers, predominantly in Russia and Kazakhstan, are equivalent to more than one-quarter of Kyrgyzstan’s GDP.Following independence, Kyrgyzstan rapidly implemented market reforms, such as improving the regulatory system and instituting land reform. In 1998, Kyrgyzstan was the first Commonwealth of Independent States country to be accepted into the World Trade Organization. The government has privatized much of its ownership shares in public enterprises. Despite these reforms, the country suffered a severe drop in production in the early 1990s and has again faced slow growth in recent years as the global financial crisis and declining oil prices have dampened economies across Central Asia. The Kyrgyz government remains dependent on foreign donor support to finance its annual budget deficit of approximately 3 to 5% of GDP.Kyrgyz leaders hope the country’s August 2015 accession to the Eurasian Economic Union (EAEU) will bolster trade and investment, but slowing economies in Russia and China and low commodity prices continue to hamper economic growth. Large-scale trade and investment pledged by Kyrgyz leaders has been slow to develop. Many Kyrgyz entrepreneurs and politicians complain that non-tariff measures imposed by other EAEU member states are hurting certain sectors of the Kyrgyz economy, such as meat and dairy production, in which they have comparative advantage. Since acceding to the EAEU, the Kyrgyz Republic has continued harmonizing its laws and regulations to meet EAEU standards, though many local entrepreneurs believe this process as disjointed and incomplete. Kyrgyzstan’s economic development continues to be hampered by corruption, lack of administrative transparency, lack of diversity in domestic industries, and difficulty attracting foreign aid and investment.

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Kyrgyzstan - GDP Composition

GDP Composiiton & Value Added of Kyrgyzstan

Last Updated: Jan, 2021, Updated For 2020.

Kyrgyzstan - GDP, Value Added

Demographics of Kyrgyzstan

the vast majority of Kyrgyzstanis live in rural areas; densest population settlement is to the north in and around the capital, Bishkek, followed by Osh in the west; the least densely populated area is the east, southeast in the Tien Shan mountains
Geographic Location

Central Asia, west of China, south of Kazakhstan

Races

Kyrgyz 73.5%, Uzbek 14.7%, Russian 5.5%, Dungan 1.1%, other 5.2% (includes Uyghur, Tajik, Turk, Kazakh, Tatar, Ukrainian, Korean, German) (2019 est.)

Languages

Kyrgyz (official) 71.4%, Uzbek 14.4%, Russian (official) 9%, other 5.2% (2009 est.)major-language

Religion

Muslim 90% (majority Sunni), Christian 7% (Russian Orthodox 3%), other 3% (includes Jewish, Buddhist, Baha'i) (2017 est.)

Dependency & Expectancy of Kyrgyzstan

Last Updated: Jan, 2021

Dependency Ratio

Expectancy

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Politics & Policies of Kyrgyzstan

2021 Policies Overview

Updated Coming in March 2021 after our team finish summarizing countries policy.

International Organizations

ADB, CICA, CIS, CSTO, EAEC, EAEU, EAPC, EBRD, ECO, EITI (compliant country), FAO, GCTU, IAEA, IBRD, ICAO, ICC (NGOs), ICRM, IDA, IDB, IFAD, IFC, IFRCS, ILO, IMF, Interpol, IOC, IOM, IPU, ISO (correspondent), ITSO, ITU, MIGA, NAM (observer), OIC, OPCW, OSCE, PCA, PFP, SCO, UN, UNAMID, UNCTAD, UNESCO, UNIDO, UNISFA, UNMIL, UNMISS, UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO

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