Foreign trade and exports falling down in Kyrgyzstan

According to the National Statistical Committee of the Kyrgyz Republic, GDP in the first half of 2016 decreased by 2.3 percent compared to the same period last year, and industrial production fell by 19.5 percent on-year.

Foreign trade amounted to around $2 billion and decreased by almost 14 percent in January-May 2016 compared to the same period last year.

Kyrgyzstan’s export fell by 29.3 percent and import by 8.2 percent.

During this period, Kyrgyzstan’s trade with Eurasian Economic Union (EEU) countries amounted to $770.3 million and reduced by 21.6 percent. The EEU includes Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Russia.

The export of garment from Kyrgyzstan decreased 23-fold in January-May 2016. In January-May the export of Kyrgyz garment amounted to $233.3 thousand compared to $5.377 million in the same period last year. The decrease of garment exports from Kyrgyzstan was due to the current crisis in Russia and Kazakhstan and declining orders from these countries.