Kyrgyz GDP up by 4.8% y/y in Jan-Oct

By bne IntelliNews November 23, 2015

Kyrgyzstan’s GDP expanded by 4.8% y/y to KGS334.1bn (€4.3bn) in January-October 2015, the country’s National Statistical Committee has reported.

Despite the slowdown in the country’s major trading partners – Russia, China and Kazakhstan – and falling remittances the Kyrgyz economy is posting a robust growth thanks to domestic consumption.

The increase was helped by an increase in the services sector (which contributed 31.3% of growth), agriculture (22.4%), the processing sector (15.9%) and construction (8.1%). Without the flagship gold mine Kumtor, GDP expanded by 4%. Production of goods decreased by 0.5 percentage points to 38.7% of GDP, while services increased by 2 percentage points to 48.8% of GDP.

Agriculture expanded by 6.3% y/y to KGS53.5bn, industry by 7.8% to KGS52bn, mining by 75.7% to KGS3bn, the processing sector by 6.2% to KGS41.6bn and supplies of electricity, gas and steam decreased by 3.8% y/y to KGS6.7bn. Water supplies and water treatment increased by 5.1% to KGS769.1mn, construction by 5.7% to KGS23.7bn, wholesale and retail trade by 5.8% to KGS57.9bn, transport by 1.5% to KGS13bn, hotel and restaurant services by 7.5% to KGS6.2bn, telecom and postal services by 5.3% to KGS15.1bn and other services by 0.5% to KGS70.9bn.

Net taxes increased by 4.8% to KGS41.7bn.

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