Market Research In Kyrgyzstan

Kyrgyzstan Profile:

  • The Kyrgyz Republic or simply Kyrgyzstan is a sovereign state and a landlocked country with mountainous terrain in Central Asia.
  • Kyrgyzstan is rich in mineral resources but has negligible petroleum and natural gas reserves. Among its mineral reserves, there are substantial deposits of coal, gold, uranium, antimony and other valuable metals.
  • Kyrgyzstan is a member of the Commonwealth of the Independent States, the Eurasian Economic Union, the Collective Security Treaty Organization, the Shanghai Cooperation Organisation, the Organisation of Islamic Cooperation, the Turkic Council, the TÜRKSOY community and the United Nations.
  • Kyrgyzstan ranks 111thout of 173 countries on its Press Freedom Index, ranked number 118 overall in the 2014 NRI ranking and ranks last in Central Asia in the World Economic Forum’s Network Readiness Index (NRI).
  • The government has reduced expenditures, ended most price subsidies and introduced a value-added tax.

Kyrgyzstan Economy:

  • 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 the only cotton is exported in any quantity. Other exports include gold, mercury, uranium, natural gas, and in some years electricity.
  • Remittances from Kyrgyz migrant workers, predominantly in Russia and Kazakhstan, are equivalent to over one-quarter of Kyrgyzstan’s GDP.
  • 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.
  • The keys to future growth include progress in fighting corruption, improving administrative transparency, restructuring and diversifying domestic industries, and attracting foreign aid and investment.

Kyrgyzstan Facts:

  • Population: 5.8 million
  • Capital: Bishkek
  • Largest city: Bishkek
  • Area: 199,951 sq km
  • Major language: Kyrgyz (official) 71.4%, Uzbek 14.4%, Russian (official) 9%, other 5.2%
  • Major religion: Muslim 75%, Russian Orthodox 20%, other 5%
  • Life expectancy: 66.8 years (Male), 75.4 years (Female)
  • Monetary unit: 1 Som(KGS) = 100 Tyiyn
  • Main exports: Gold, cotton, wool, garments, meat; mercury, uranium, electricity; machinery; shoes
  • GNI per Capita: $3,410

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