Over the past three years, Kyrgyzstan has become one of the world’s fastest-growing countries in terms of GDP per capita. This is according to Mirkomil Kholboev, an economist and master's graduate in International Trade from Chonbuk National University (South Korea), as reported by Gazeta.uz.
According to his analysis, between 2022 and 2024, Kyrgyzstan's per capita income nearly doubled, growing by 85% to reach $2,500. For comparison, the growth over the same period was 49% in Tajikistan, 42% in Kazakhstan, and 37% in Uzbekistan.
“In recent years, regional tensions unexpectedly created favorable conditions for Kyrgyzstan’s rapid growth. The economy grew annually by 9% — the highest rate in the region,” Kholboev notes.
In the first quarter of 2025, the country’s GDP growth accelerated to 13.1%. While the IMF forecasts Kyrgyzstan’s economic growth at 6.8% for this year, the expert believes it could be higher. In the medium term, the Fund expects growth to slow to 5.25%, but the Kyrgyz government aims to maintain it at 8% through large-scale projects.
If this trend continues, Kyrgyzstan may catch up to Uzbekistan in per capita income by 2026, and starting in 2027, the average Kyrgyz citizen could surpass the average Uzbek in earnings. By 2030, the gap could reach up to 50% in Kyrgyzstan’s favor.
A chart presented by Kholboev shows changes in GDP per capita from 2021 to 2024. Guyana led the world (tripling its figure due to new oil reserves), followed by Armenia (81.4%) and Georgia (80.8%). Kyrgyzstan ranked slightly lower but still outperformed many countries, including Tajikistan, which also entered the global top 10.
“Although these growth rates are largely due to the unique regional context, the fact that our neighbors are growing is a very positive trend for us as well,” concludes Kholboev.
According to the World Bank, Kyrgyzstan’s per capita income increased by 79.2%, which slightly differs from IMF-based calculations for 2024, Kholboev explained.
For reference, Uzbekistan’s economy grew by 6.5% in 2024, reaching 1.45 quadrillion soums (about $115 billion). Its GDP per capita rose to 39.1 million soums ($3,093). In Kyrgyzstan, GDP per capita reached $2,400.
By 2030, Kyrgyzstan aims to increase this figure to $4,500, while Uzbekistan plans to reach $5,000.
Meanwhile, according to forecasts by the Eurasian Development Bank, Kyrgyzstan’s GDP growth will reach 10.3% by the end of 2025.
The 1.6% upward revision is attributed to rising gold prices, increased consumer spending, and active investment demand.
According to Kyrgyzstan’s National Statistics Committee, in January–May 2025, the country’s GDP amounted to 573.1 billion soms ($6.55 billion), marking a 12.3% increase compared to the same period last year.
CentralasianLIGHT.org
July 4, 2025