Economic slowdown continues in Kyrgyzstan as GDP decreased by 6.1%

Economy 0

Bishkek, Aug. 12, 2020. /Kabar/. Gross Domestic Product (GDP) of Kyrgyzstan in January-July 2020, according to preliminary estimates, amounted to KGS 282 billion, and decreased by 6.1% compared to the same period last year, the press service of the National Statistics Committee of the republic reported Wednesday.

Excluding the Kumtor field development companies, the GDP volume in January-July 2020 amounted to over KGS 244 billion, and decreased by 7.7%.

The volume of industrial production in January-July 2020 amounted to about KGS 180 billion, and decreased by 0.9% compared to January-July last year, which is due to a decrease in the production of oil products (by 59%), textile production, clothing and footwear, leather and leather goods (by 20%), 4 %), wooden and paper products, printing (by 18.5 %), rubber and plastic products, other non-metallic mineral products (by 16.5 %), food products (including drinks) and tobacco products (by 5.3 %), as well as mining (by 4.2 %).

Negative trends were observed in construction, where the decrease in volumes was 8.9%, in wholesale and retail trade - 17.6%, while in agriculture, on the contrary, there was an increase in volumes by 1.8%.

In January-July of the current year (compared to December of the previous year) the growth of consumer prices in the whole country made up 2.5%.

At the same time, prices for food products and soft drinks increased by 4.9%, alcoholic beverages and tobacco products - by 5.5%. Prices of non-food products, on the contrary, decreased by 0.8%, while tariffs for services remained at the level of December 2019.

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