Maintaining Growth Rates
From January to October, the country's GDP amounted to 1 trillion 427.4 million soms, which corresponds to an increase of 10% compared to the same period last year, similar to the figures from the previous month.However, there are significant risks for further price growth in Kyrgyzstan. In anticipation of the holidays, an increase in consumer activity is expected, which may contribute to rising prices, while the increase in prices for fuel and lubricants may also negatively impact logistics costs. In the first case, the authorities have tools for regulation (monetary policy and state price regulation), while in the second case, work is being done to diversify sources of fuel imports.
Decline in Foreign Economic Activity
From January to September of this year, the volume of foreign economic activity in Kyrgyzstan amounted to $11.3 billion, which is 8.3% less than in the same period last year.According to the department, the decline in foreign economic turnover is related to both a drop in export supplies and a decrease in import volumes. Exports decreased, in particular, due to a sharp reduction in supplies of live animals by 8.2 times, footwear by 4.3 times, waste and scrap of copper by 2.8 times, ferrous metals by 1.6 times, gold by 27.9%, textile clothing by 26.2%, and equipment and mechanical devices by 21.3%.
Imports also decreased, which is related to a reduction in the import of various goods from third countries, including cars and equipment.
Overall, imports decreased by 5.3% year-on-year, while export supplies fell by 39.2%, amounting to $0.8 billion, and imports increased by 11.8%, reaching $3 billion.
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