In Kyrgyzstan, electronic commerce is rapidly gaining popularity, accounting for more than 14% of the country's total retail turnover. This was stated by Aibek Kurentkeyev, president of the Association of Electronic Commerce of the Kyrgyz Republic, on the air of Birinchi Radio.
According to him, the volume of electronic trade in the country at the end of last year amounted to approximately 428 million dollars. This year, a growth of 15% is expected, which means at least about 525 million dollars. These figures pertain to the domestic market, excluding exports and imports.
Kurentkeyev noted that the concept of electronic commerce became widely known with the introduction of the law on electronic trade in 2021, which was developed in collaboration with the Ministry of Economy and Commerce. He explained that electronic commerce includes the sale of goods and services remotely using information technologies and cashless payments.
Moreover, he emphasized that electronic commerce encompasses not only product sales but also services, which is extremely important for Kyrgyzstan, where small and medium-sized businesses, along with trade and services, constitute a significant part of the economy.
Kurentkeyev pointed to the high prospects for the development of the sector. Kyrgyzstan is demonstrating impressive growth in electronic commerce. At the global level, the electronic commerce market is estimated at around 27 trillion dollars, of which the retail portion accounts for about three trillion. Over the past four years, from 2021 to 2025, the sector, which initially accounted for only 0.5% of the country’s economy, has significantly increased and now constitutes more than 14% of retail turnover. This trend continues to gain momentum as more entrepreneurs transition to the online sphere to access larger markets and optimize costs.
Kurentkeyev also noted that the entry of Kyrgyz entrepreneurs onto international platforms opens new horizons for exports.
“Working with a single platform, such as a Russian or Chinese one, can be more profitable than exporting to one country. This opens access to dozens of markets simultaneously. Entrepreneurs can increase their revenues, pay more taxes, and expand their production. For the country's economy, this means transparent revenues and tax receipts; for entrepreneurs, it provides the opportunity to enter global markets; and for consumers, it offers a wider selection of goods and affordable prices. All parties benefit from this,” he summarized.
