Income Level/Wage Level

Minimum Wages in Kyrgyzstan increased to 2337 KGS/Month (26.549 USD/Month) in 2023.

Average Wages in Kyrgyzstan increased to 33182 KGS/Month (376.963 USD/Month) in May 2023. The maximum rate of the average wage for employees was 24204 KGS/Month and the minimum was 800 KGS/Month

Gross Domestic Product (GDP, nominal)

Trade Volumes and Trade Structure

Total Exports (2021): $1,688,227,965
Total Imports (2021): $5,447,793,722
Trade Balance (2021): $3,759,565,757

Exports of goods and services (% of GDP) (2021): 39.31%
Imports of Goods and Services (% of GDP) (2021): 69.08%

Inflation

The annual inflation rate in Kyrgyzstan slowed to 10.5% in June 2023, the lowest since April 2021, down from 11.3% in the previous month, as food inflation eased to a nearly three and half year low of 6.7% (vs 8.4% in May). There was also a slowdown in prices of alcoholic beverages and tobacco (19.7% vs 21.7%) as well as of services (11.2% vs 12.1%). By contrast, inflation accelerated for non-food products (14.1% vs 12.9%). Every month, consumer prices went up by 0.7%, after a prior 0.9% gain in May.

Structure of the Economy

Kyrgyzstan's economic history was significantly influenced by the Soviet era, when it was part of the centrally planned Soviet economy. After the collapse of the Soviet Union in 1991, Kyrgyzstan faced economic challenges, including the loss of trading partners and dependence on raw materials such as cotton and wool. In the turbulent 1990s, the country experienced economic instability accompanied by hyperinflation and a decline in manufacturing. In the following years, economic reforms were introduced to liberalize the economy and promote the private sector. Nevertheless, Kyrgyzstan remains one of the poorest economies in the region, with agriculture, mining, textiles and tourism among the most important sectors of the economy.

This statistic shows the share of economic sectors in gross domestic product (GDP) in the Kyrgyz Republic from 2011 to 2021. In 2021, the share of agriculture in the Kyrgyz Republic's GDP was 14.68 per cent, industry contributed approximately 26.69 per cent and the services sector contributed about 48.44 per cent.

Natural Resources

The Kyrgyz Republic has occurrences of coal, gold, silver, uranium and antimony, and non-ferrous ores and minerals are important exports. The country deposits oil and gas resources. Gold mining is the largest contributor to the economy, with the Kumtor gold mine accounting for about 70% of mining profits. Mining remains one of the largest sectors of the economy and is a significant component of the National Development Strategy.

Sources