The Kyrgyz Republic is rich in natural resources, has a high level of public education, enjoys a geographically favorable location, and is characterized by a mild climate. The country has a vast potential for the development of industrial production, hydro power sector, agriculture, and tourism.
Being a democratic nation, the Kyrgyz Republic promotes a convergent system of economy based upon such key principles as free entrepreneurship, a free pricing system, free competition, and state regulation.
Development of the industrial sector is represented primarily by electricity production, the non-ferrous metal industry, and food processing. Achievements of the agricultural sector have become possible primarily due to the efforts of peasant farms.
The Kyrgyz Republic ranks 102nd out of 189 countries in the World Bank Group’s “Doing Business” list in 2015. According to the Heritage Foundation’s 2015 Index of Economic Freedom, out of 178 countries Kyrgyzstan ranks 82nd and categorized as “moderately free” economy. It also ranks 101st out of 146 countries in the Forbes ‘Best Countries for Business’ list 2014.
Key Macroeconomic Indicators
According to the National Statistics Committee of the Kyrgyz Republic, in 2014 country’s real GDP has marked 3.6% growth, while in 2013 it was 10,9%. Overall, Kyrgyzstan’s GDP has grown 3,5 times within last 10 years.
GDP per capita has increased from USD433 in 2004 to USD1258 in 2014.
Inflow of Foreign Direct Investments has grown from USD176 millions to USD608 millions in 2014.
Unemployment rate was marked at 8,4% in 2014, in 2004 it was at 8,5%.
Average monthly wage in 2014 was USD224.