Kyrgyzstan’s exports increased by 14.1%

Bishkek, Dec.13, 2019. /Kabar/. In January-October 2019, exports of goods amounted to USD 1563.6 million, and increased by 14.1%, the press service of the Government of the Kyrgyz Republic reported Friday.

The increase in exports was due to the increase in exports of gold by 1.6 times, tobacco and tobacco products by 2.4 times, meat and meat co-products by 2.1 times, fertilizers by 1.7 times, ceramics by 1.7 times, vegetables by 1.5 times, fruits and nuts by 39.1%, cement by 37.2%, ores and concentrates of precious metals by 17.6%.

In January-October 2019, imports of goods amounted to USD 4059.1 million and decreased by 7.2%.

The decrease in import revenues in comparison with January-October 2018 is due to a 2.3-fold decrease in imports of leather goods, clothing and accessories - 1.8 times, shoes - 1,5 times, chemical threads and fibers - by 27.9%, sugar and sugar confectionery - by 25.6%, oil and oil products - by 19.4%, plastics and products from it - by 11.0%, rubber and its products - by 7.8%.

The trade deficit amounted to USD 2495.5 million and decreased by 17%. The reduction of the trade deficit indicates an improvement in the trade balance through an increase in exports and a decrease in imports.

There is an increase in import substitution of goods, some of which, for example, are:

∙ Textiles - imports decreased by 16.4% or by USD 2.7 million. At the same time, the export of textiles increased by 22.5 % or by USD 335 thousand, its production increased by 20.4 %;

∙ Leather products - imports decreased 2.3 times or by USD 30.1 million. At the same time, exports of leather goods increased 3.4 times (by 242%) or by USD 4.5 million, and production increased by 7.4%;

∙ Cement - imports decreased by 3.6% or by USD 505 thousand. At the same time, the export of cement increased by 37.2%, or by USD 8.1 million, and its production increased by 6.3%.