Economy

Economy—overview: Kyrgyzstan is a small poor mountainous country with a predominantly agricultural economy. Cotton wool and meat are the main agricultural products and exports. Industrial exports include gold mercury uranium and hydropower. Kyrgyzstan has been one of the most progressive countries of the former Soviet Union in carrying out market reforms. Following a successful stabilization program which lowered inflation from 88% in 1994 to 15% for 1997 attention is turning toward stimulating growth. Much of the government's stock in enterprises has been sold. Drops in production have been severe since the breakup of the Soviet Union in December 1991 but by mid-1995 production began to recover and exports began to increase. Pensioners unemployed workers and government workers with salary arrears continue to suffer. Foreign assistance played a substantial role in the country's economic turnaround in 1996-97.

GDP: purchasing power parity—$9.7 billion (1997 est.)

GDP—real growth rate: 10% (1997 est.)

GDP—per capita: purchasing power parity—$2 100 (1997 est.)

GDP—composition by sector:

agriculture: 47%

industry: 12%

services: 41% (1996 est.)

Inflation rate—consumer price index: 15% (1997 est.)

Labor force:

total: 1.7 million

by occupation: agriculture and forestry 40% industry and construction 19% other 41% (1995 est.)

Unemployment rate: 8% (December 1996 est.)

Budget:

revenues: $225 million

expenditures: $308 million including capital expenditures of $11 million (1996 est.)

Industries: small machinery textiles food processing cement shoes sawn logs refrigerators furniture electric motors gold rare earth metals

Industrial production growth rate: 10.8% (1996 est.)

Electricity—capacity: 3.632 million kW (1995)

Electricity—production: 13.7 billion kWh (1996 est.)

Electricity—consumption per capita: 2 090 kWh (1995)

Agriculture—products: wool tobacco cotton potatoes vegetables grapes fruits and berries; sheep goats cattle

Exports:

total value: $506 million (1996)

commodities: cotton wool meat tobacco; gold mercury uranium hydropower; machinery; shoes

partners: China UK FSU

Imports:

total value: $890 million (1996)

commodities: grain lumber industrial products ferrous metals fuel machinery textiles footwear

partners: Turkey Cuba US Germany

Debt—external: $746 million (1996)

Economic aid:

recipient: ODA $56 million (1993)

note: commitments 1992-95 $1 695 million ($390 million disbursements)

Currency: 1 Kyrgyzstani som (KGS) = 100 tyiyn

Exchange rates: soms (KGS) per US$1—14.6 (January 1997) 11.2 (yearend 1995) 10.6 (yearend 1994)

Fiscal year: calendar year