Kyrgyzstan’s GDP grew by 9% for 11 months of 2024: Cabinet Head Zhaparov

The year 2025 will be an even more successful stage in the realization of our ambitious goals, Chairman of the Cabinet of Ministers of Kyrgyzstan Akylbek Zhaparov, presenting the results of socio-economic development of Kyrgyzstan for January-November 2024 at the staff meeting of the Presidential Administration on Monday, Kabar reports. 

The head of the Cabinet added that the economy of Kyrgyzstan demonstrates steady growth, which is the result of well-coordinated work of the government under the leadership of President Sadyr Zhaparov.

“For 11 months of 2024, we have not only maintained but also accelerated the pace of development, strengthening macroeconomic stability and laying a solid foundation for future growth,” he said.

According to preliminary data of the National Statistical Committee of Kyrgyzstan, in January-November 2024, the volume of gross domestic product (GDP) amounted to KGS 1,225,950.6 billion, real growth rate made 109% (in January-November 2023 - 104.4%). Excluding the enterprises for the development of Kumtor deposit, GDP amounted to KGS 1,159,813.7 billion, growth rate of 110.3%.

Sustainable growth is primarily due to the significant expansion of industrial and agrarian industrial production. The growth of exports and investments also contributes its share to the process.

Sectors of the economy show positive dynamics, which is summarized in the following indicators:

- Volume of industrial products (works, services) total – KGS 513,346.9 billion, growth rate 104.8%, (excluding Kumtor - 331,258.4, growth rate 113.0).

- Gross output of agriculture, forestry and fishery – KGS 369,613.3 billion, growth rate - 106.2%.

- Gross output in construction – KGS 219,020.3 billion, growth rate - 132.6%.

- Investments in fixed capital (capital investments) – KGS 214,537.6 billion, growth rate - 147.3%.

- Total volume of wholesale and retail trade, repair of automobiles and motorcycles – KGS 1,422,399.5 billion, growth rate - 118.5 %.

- Average monthly salary of employees – KGS 36 002, growth rate - 112%.

- Volume of foreign and mutual trade – KGS 13,443.4 billion, growth rate - 106.4%.

- Imports – USD 10,310, billion, growth rate - 101.8%.

- Exports – USD 3,123.4 billion, growth rate - 125.2%.

“Our main task today is to strengthen the contribution of the real sector of the economy, continue attracting foreign investments and ensure their successful integration into strategically important industries. We firmly believe that 2025 will be an even more successful stage in the realization of our ambitious goals. Kyrgyzstan is moving forward, confidently overcoming challenges and creating conditions for sustainable and inclusive economic growth,” concluded Akylbek Zhaparov.

As it was reported earlier over 142,000 Kyrgyzstani women receive loans for business.