Kyrgyzstan demonstrated the highest gross domestic product growth rate among Eurasian Economic Union countries in the first quarter of 2026. According to the Eurasian Economic Commission (EEC), the country's economy grew by 14.9% compared to the same period last year, Akchabar.kg reports.
Armenia ranked second with GDP growth of 11.9%, while Kazakhstan ranked third with an expansion of 2.2%. Overall, the combined GDP of EAEU countries grew by 0.2% from January to March. According to the EEC, Kyrgyzstan's economy amounted to USD 4.9 billion during the reporting period, while the volume of services in the union's domestic markets increased by 0.5%.
Analytical Commentary
Kyrgyzstan's leadership in economic growth reflects continued high business activity, rising domestic consumption, and expanding investment. In recent years, the country's economy has demonstrated steady momentum thanks to the development of construction, trade, services, and industry, as well as increased public capital investment and infrastructure projects. Remittances from migrant workers continue to play a significant role, supporting domestic demand, as does the expansion of trade ties within the Eurasian Economic Union.
However, such high growth rates are explained not only by structural changes but also by the relatively small base of the Kyrgyz economy compared to other EAEU countries. This allows for double-digit growth rates even with a moderate absolute increase in production volumes. In the long term, the main challenge will be maintaining the quality of economic growth by increasing labor productivity, developing export-oriented industries, and attracting foreign direct investment.
It is important for Kyrgyzstan to leverage the current positive momentum to diversify the economy, reduce dependence on external factors, and create new, highly productive jobs. If ongoing reforms in digitalization, industry, and transport infrastructure are consistently implemented, the country will be able to consolidate its position as one of the most dynamically developing economies in Central Asia and increase its competitiveness both within the EAEU and in the broader Eurasian region.
Below is a comparative table of real GDP growth in the EAEU countries over the past four full years (2022–2025), based on data from international financial organizations and national statistical services, aggregated by the EEC.
Real GDP Growth in EAEU Member States (2022–2025)
| Country | __2022__ | __2023__ | __2024__ | __2025__ |
|---|---|---|---|---|
| Armenia | 12.6% | 8.3% | 5.9% | 4.0% |
| Belarus | -4.7% | 3.9% | 4.0% | 2.2% |
| Kazakhstan__ | 3.2% | 5.1% | 4.8% | 5.0% |
| Kyrgyzstan__ | 9.0% | 6.2% | 9.0% | 10.6% |
| Russia | -1.2% | 3.6% | 4.3% | 1.5% |
Sources: EEC, IMF (World Economic Outlook), World Bank.
The table shows that Kyrgyzstan has remained one of the fastest-growing economies in the EAEU for several years. While Armenia led in growth rates in 2022–2023, Kyrgyzstan gradually assumed the lead in 2024–2025, maintaining double-digit growth rates in the first quarter of 2026 (14.9%). This indicates the emergence of a sustainable trend, rather than a one-time statistical effect.
CentralasianLIGHT.org
July 13, 2026