Kyrgyzstan's foreign trade turnover increased by 31.1% in January to June 2023, the report fo the Eurasian Development Bank says.
This increase was driven by a 34.6% growth in exports and a 30.3% growth in imports. The rise in export value was due to the resumption of gold shipments for export (contributing 31.1 percentage points to the overall export growth). The increase in imports was fueled by higher supplies of machinery and equipment, primarily from China.
Bilateral trade with Eurasian Economic Union (EAEU) member countries decreased by 6.6%, mainly due to a reduction in foreign trade operations with Russia.
"We believe that for the remaining part of the year, gold exports will continue to drive export growth, while imports will be influenced by the increasing volume of goods imported from China," stated EDB specialists.
CentralasianLIGHT.org
August 28, 2023