Foreign trade of Kyrgyzstan

Main article: Economy of Kyrgyzstan

Chronicle

2024

Kyrgyzstan increased annual exports by 13.1% to $3.8 billion. Imports have shrunk

Exports Kyrgyzstan for 2024 increased by 13.1% and reached $3.8 billion, largely due to cooperation with. Russia This was announced in March 2025 by the National Statistical Committee of the Republic. At the same time, imports have declined, reflecting changes in the country's foreign trade structure Eurasian Economic Union within (). EEU

As the Region.kg moves, the external trade turnover of Kyrgyzstan in 2024 reached $16 billion, which is 0.9% more compared to 2023. At the same time, the country's imports amounted to $12 billion, having decreased by 2.4% compared to the previous year. These figures demonstrate the positive dynamics of the trade balance of the republic.

Kyrgyzstan increased its annual export volume by 13.1%.

The main export items of Kyrgyzstan are traditionally gold, textiles, agricultural products and energy resources. The largest growth was observed in gold supplies, which remains the country's key export position. Sales markets for Kyrgyz textiles and clothing have also expanded significantly.

Of particular importance for the growth of export indicators was the increase in the volume of agricultural products, including fruits and nuts, supplied to the CIS countries and the Eurasian Economic Union. In addition, trade relations with new partners outside the EAEU have noticeably intensified.

Russia played a key role in improving Kyrgyzstan's export performance by providing preferential treatment for Kyrgyz goods and providing technical support to meet EAEU standards. The Russian market remains one of the main areas of export of Kyrgyz products.

Kyrgyzstan is actively developing economic cooperation within the framework of the Eurasian Economic Union. In 2024, the share of mutual trade with the EAEU countries amounted to 31.1% of the total trade turnover. At the same time, exports to the Union countries reached 38.6% of the total export supplies, and imports from the EAEU countries amounted to 28.8% of the total volume of imported goods.^[1]

Gold exports in Kyrgyzstan amounted to 17.7 tons worth $1.4 billion. Major Buying Countries

The National Statistical Committee of Kyrgyzstan in February 2025 reported that the volume of gold exports in 2024 amounted to 17.7 tons worth $1.4 billion.

According to Finmarket, the main importing countries of Kyrgyz gold in 2024:

• Great Britain - 14.9 tons worth $1.2 billion.
• China (Hong Kong) - 1.8 tons worth $129 million.
• Switzerland - 971.4 kg worth $63.5 million
• UAE - 13.5 kg in the amount of $881.9 thousand.

The UK began buying gold from Kyrgyzstan in April 2024 and by the end of the year became the largest buyer of the precious metal. In 2023, the total volume of gold exports from Kyrgyzstan amounted to 20.2 tons worth $1.2 billion.

Bishkek

In 2021, the export of gold from Kyrgyzstan decreased significantly after the temporary exclusion of the refinery of OJSC "Kyrgyz" from the list of reliable suppliers of the London Association of Participants in the Precious Metals Market. Subsequently, the status of a reliable supplier was restored.

The National Statistical Committee notes that the Kyrgyz authorities during this period formed reserves of precious metal for use in case of unforeseen circumstances.

In the overall structure of Kyrgyzstan's exports, gold occupies a significant share, being one of the country's key exports. The restoration of positions in the international precious metals market made it possible to increase the volume of foreign exchange earnings from the sale of gold in 2024.

Diversification of export directions and entry into new markets, in particular the British, contributed to an increase in the value of gold supplies from Kyrgyzstan. At the same time, the physical volume of exports in 2024 decreased by 2.5 tons compared to 2023.^[2]

Trade turnover of Russia and Kyrgyzstan for the year increased to $3 billion

At the end of 2024, the trade turnover of Russia and Kyrgyzstan exceeded $3 billion. Imports of Russian products to this republic rose by 15.4%, reaching $2.1 billion, while exports of Kyrgyz products to the Russian Federation increased by 46.3% and amounted to $937.4 million. Such data were released on January 21, 2025.

It is noted that Russia, among other things, supplies to Kyrgyzstan petroleum products, metallurgy and metalworking products, road transport, household appliances, pharmaceutical products and fertilizers. In turn, Kyrgyzstan exports clothes, copper, fruits, vegetables, dairy products and a number of other goods to the Russian Federation.

Bishkek

Russian Prime Minister Mikhail Mishustin emphasizes that Russia and Kyrgyzstan have significant potential to build up trade relations and cooperation. We are talking primarily about industry, agriculture, power and the transport industry. In addition, cooperation in the field of digital technologies is strengthening.

Our trade cooperation is developing at a good pace. Of course, we would like to maintain such a trend in order to provide stable and predictable conditions for doing business, says Mishustin.

The Russian Prime Minister proposed to accelerate the launch of joint projects in the field of transport, logistics, industrial and rural cooperation, as well as the digital economy. In addition, Mishustin allocated the effective activities of the Russian-Kyrgyz Development Fund: as of the end of 2024, more than 3,500 projects were financed. The positive trend in trade relations between the two countries is supported, among other things, by cooperation within the framework of the Eurasian Economic Union (EAEU). Chairman of the Cabinet of Ministers of Kyrgyzstan Akylbek Japarov added that Russian-Kyrgyz relations are at the highest level.^[3]

Foreign trade growth by 3.7% to $14.6 billion

In 2024, the volume of foreign and mutual trade in goods of Kyrgyzstan amounted to $14.65 billion. Year-on-year growth was about 3.7%. This was announced on January 17, 2025 by the National Statistical Committee of the Kyrgyz Republic.

Export deliveries amounted to $3.47 billion (in the period from January to November 2024), and the growth compared to 2023 was recorded at 21.3%. Imports accounted for about $11.19 billion, which is 0.8% less than a year by year. In the structure of trade, exports provided 23.6%, imports - 76.4%.

Bishkek

In the total volume of trade of the republic, mutual trade with the member states of the Eurasian Economic Union accounted for 30.7%, including 39.5% in exports and 28% in imports. Foreign trade with third countries (outside the EAEU) amounted to 69.3%, including 60.5% in exports and 72% in imports.

According to the Ministry of Economy and Commerce of the Kyrgyz Republic, in 2024 the largest share of mutual trade with the EAEU member states fell on Russia (71.2%) and Kazakhstan (26.9%). Earlier, the head of the Cabinet of Ministers of Kyrgyzstan, Aklybek Japarov, said that the republic expects to increase the volume of export-import operations with Russia to $5 billion a year. According to him, various measures are being taken for this, such as the development of new trade formats, reducing the financial and resource costs of entrepreneurs, the introduction of new tools to support exporters, as well as eliminating obstacles to the free movement of goods across borders within the EAEU countries.

At the same time, Russian Prime Minister Mikhail Mishustin notes that Russia and Kyrgyzstan have great potential to increase cooperation - primarily in the financial sector, industry, agriculture, power, transport industry, as well as in the field of digital technologies.^[4]

Taking off imports from Thailand

Thailand's exports to Kyrgyzstan rose sharply in July 2024.

It is believed that Thailand has joined the "transshipment" of Western goods to Russia.

Maintaining record imports from South Korea amid sanctions against Russia

EU countries conduct direct supplies to Russia, indicating Kyrgyzstan in the documents

In April 2024, exports to Russia through third countries in Central Asia continue to remain at a record level. Kyrgyzstan is a key hub for transshipment, with exports from European countries never arriving in Bishkek. Kyrgyzstan is what is indicated in the bill, but these goods go directly to Russia.

Export of vehicles and spare parts from Germany by 5100% exceeded the level of 2019

The export of vehicles and spare parts from Germany to Kyrgyzstan in 2023 exceeded the level of 2019 by 5100%.

Germany's exports to Kyrgyzstan in February 2024 amounted to 74 million euros.

Growth in imports from China and Serbia at the beginning of the year

2023

Russia took second place in the foreign trade turnover of Kyrgyzstan

Russia took second place in the foreign trade turnover of Kyrgyzstan with a share of 18.7% at the end of 2023. Deputy Minister of Economic Development of Russia Dmitry Volvach spoke about this at a plenary meeting of the Intergovernmental Russian-Kyrgyz Commission on Trade, Economic, Scientific, Technical and Humanitarian Cooperation and the XI Russian-Kyrgyz Interregional Conference in July 2024.

Kyrgyzstan is a significant strategic partner of Russia. We are conducting a meaningful bilateral dialogue, developing fruitful interaction within the framework of multilateral formats - the EAEU and the CIS, - he said.

View of Bishkek

At the meeting, the parties discussed cooperation, including agreements reached on expanding industrial cooperation, the construction of small hydroelectric power plants, solar and wind farms, the development of transport routes and joint projects in agriculture, as well as other pressing issues of cooperation in the economic and humanitarian spheres.

According to Dmitry Volvach, the opening of a representative office of the Russian Export Center in Kyrgyzstan, as well as the promotion of small and medium-sized enterprises of the two countries by the SME Corporation, give impetus to the development of economic relations between Russia and Kyrgyzstan.

Special attention at the meeting of the intergovernmental commission was paid to cooperation in the field of science and education: the construction of joint Russian-Kyrgyz schools in Kyrgyzstan, the projects "Ambassadors of the Russian Language in the World," "Russian Teacher Abroad," the activities of the Kyrgyz-Russian Slavic University named after the first President of Russia Boris Yeltsin.

In January-April 2024, the trade turnover of Russia and Kyrgyzstan increased by 30%. The Ministry of Economy of Kyrgyzstan associates this positive trend in trade relations, including with cooperation within the framework of the Eurasian Economic Union (EAEU).^[5]

Decrease in annual trade turnover with Russia by 19% to $2.9 billion

Annual trade turnover between Russia and Kyrgyzstan has decreased. In 2023, trade between the two countries totaled $2.9 billion, down 19% from 2022. These data were provided by the National Statistical Committee of Kyrgyzstan in April 2024.

According to Kaktus.media, Kyrgyzstan's exports to Russia in 2023 decreased by 43%. At the same time, Russian exports to Kyrgyzstan also declined, decreasing by 9.2%. However, despite the decline in official statistics, the supply of goods between countries continued. Some companies from Kyrgyzstan continued to supply dual-use goods to Russia, despite the sanctions imposed on a number of enterprises.

Bishkek, Kyrgyzstan

The decline in trade between Russia and Kyrgyzstan may be due to various factors, including changes in economic policy, sanctions and other external factors. It is important to note that Russian President Vladimir Putin has previously noted an increase in trade between countries, which may indicate discrepancies in statistics. It is impossible to verify this, since since April 2022, Russia has closed access to foreign trade statistics.

In 2023, Kyrgyzstan actively exported dual-use goods to Russia, including electronic integrated circuits, radar devices and capacitors. According to the National Statistical Committee of Kyrgyzstan, in 2023, the export of electronic integrated circuits amounted to $12.2 million, which is significantly more than $612.8 thousand in 2022.

Re-export of radar equipment from Kyrgyzstan to Russia also increased, reaching 410.6 thousand dollars in 2023 against 169.8 thousand dollars in 2022. Capacitor exports increased from $0.5 thousand in 2022 to $20.6 thousand in 2023. In total, the re-export of goods from Kyrgyzstan to Russia, according to official statistics, amounted to $12.7 million.

The export of turbojet engines attracts special attention. In 2023, Kyrgyzstan delivered 2,166 turbojet engines to Russia in the amount of $19.3 million, which is significantly more than the $1.4 million exported for the entire 2022. These engines are used in aviation, including Su-27 fighters and cruise missiles.^[6]

UAE export growth

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Growth in imports from Germany by 1400% and from China

In the first 7 months of 2023, Germany's exports to Kyrgyzstan increased by 1400% compared to the same period in 2019, which indicates the desire of German companies to maintain supplies of their products to the Russian market according to the model of re-export through third countries.

2022

Record trade turnover with Russia $3.4 billion

In 2022, the trade turnover of Russia and Kyrgyzstan reached a record high, amounting to $3.4 billion.

Complete transition to settlements in rubles in trade with Russia

By mid-July 2022, Kyrgyzstan, when conducting trade operations with the Russian Federation, almost completely switched to settlements in Russian rubles.

The rise of trade with the United States and the EU due to bypassing sanctions against the Russian Federation

The rapid growth of trade flows USA EU with neighbors Russia may be a sign that sanctions can be avoided, the European Bank for Reconstruction and Development believes.

German exports to Russia from May to July 2022 fell 38% compared to the average for the same period in 2017-2019. However, it almost doubled to Armenia and more than tripled to Kyrgyzstan - a trend also seen in trade flows to the Caucasus and Central Asia from the US, Britain and EU countries.

Notes