Kyrgyzstan’s economic growth made 4.5% in 2017

26.02.2018

As a result of 2017, Kyrgyzstan’s economy grew by 4.5%. This became known on Feb. 22, during a government meeting, where the results of the socio-economic development of the country for 2017 were considered.

Speaking at the meeting Economy Minister of the country Artem Novikov said that economic growth in 2017 was provided by all sectors of the economy, including growth rates in agriculture 2.2%, in construction 7.1%, in services - 2.1% %.

“The main driver of growth was the industrial sector with a real growth rate of 11.8%," he said.

Artem Novikov stressed that positive trends remain in foreign economic activity.

"In particular, in January-December of 2017, the growth rate of exports (13.8%) exceeds the growth rate of imports (12%), while the export growth to the Eurasian Economic Union countries was 27%. In January-November of 2017, our republic carried out trade and economic relations with 124 states of the world trade community, including 118 imports and 85 exports," Novikov said.

For reference: The foreign trade turnover of the Kyrgyz Republic for January-November 2017 amounted to $5,602.5 million and compared to January-November 2016 increased by 10.9%.

Foreign trade turnover with the countries of the Eurasian Economic Union amounted to $2,179.2 million and increased by 14.3%.

With the CIS countries, in January-November 2017, trade increased by 17.5% and amounted to $2,542.0 million, including exports worth $687.1 million (an increase of 23.1%), and imports worth $9 million (an increase of 15.5%).

With non-CIS countries, trade turnover amounted to $3,060.5 million (an increase of 6.0%), including exports worth $854.2 million (an increase of 5.6%), and imports worth $2206.3 million (an increase of 6.2%).

Reported by Kabar (Kyrgyzstan).