Kyrgyzstan – Eurasian Economic Union Trade Up 36.2% In 2022

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Kyrgyzstan’s trade turnover with the Eurasian Economic Union (EAEU) countries significantly increased from January through November 2022, according to the National Statistical Committee of Kyrgyzstan. According to the committee, the foreign trade turnover of Kyrgyzstan with the EAEU reached US$4.2 billion in 11 months of 2022, an increase of 36.2% over the same period in 2021. Compounded over the full year, that suggests a total Kyrgyz–EAEU trade turnover of about US$4.6 billion for the full year.

The Eurasian Economic Union includes Kyrgyzstan as well as Armenia, Belarus, Kazakhstan and Russia. During the reported eleven-month Kyrgyzstan’s imports from the EAEU countries increased by 20.3% compared to 2021, while exports increased by 1.9 times. That was mainly due to the growth in footwear production in Kyrgyzstan which increased by a multiple of 10.8 times over 2021.

“The growth in exports was due to the growth in Kyrgyz export supplies of footwear, equipment and mechanical devices, leather goods, clothing, vegetables and fruits. At the same time, the growth of imports is associated with an increase in the receipts of vegetables and fruits, vehicles, and ferrous metals,” the Committee said.

Overall, Kyrgyzstan’s foreign trade amounted to US$10.5 billion in 11 months of 2022, which is an increase of 40.4% over the same period in 2021. The largest share of Kyrgyzstan’s trade with EAEU member states belonged to Russia (71.8% and Kazakhstan (25.9%).

Kyrgyzstan is the 2023 Chair of the Commonwealth of Independent States and has been actively attracting Russian and Chinese investment by offering tax incentives and long-term residents visas.

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