Español

The Economic Activity of Kyrgyzstan

You are here: Countries / Kyrgyzstan



Kyrgyzstan struggled to stand on its own feet financially in the fall of the Soviet Union. In the past, its economy has been reliant to this giant Mother State. It is a prominent supplier of major raw materials which include coal, fabric, and minerals. Since then, it has gradually and excruciatingly transformed into a free market economy. It is on its way to making independent production of processed goods.

Agriculture is the prime source of national income and employment. In fact, lands and industries are utilized to agricultural ends. Lands are used to raise livestock and crops. Livestock products include cattle, goat, and sheep. Crops include barley, beet, cotton, fodder, fruits, silk, sugar, tobacco, vegetables, and wheat. Also, industries progressively upsurge which include construction, food processing, mining, power supply, and textile.

This nation is further endowed with rich deposit of fuel and minerals distributed on its mountainous regions. It has generous reserves of coal, oil, and natural gas which are attractive import products. Its most renowned duo-produce is gold and antimony. It has also stores of priced minerals like bauxite, bismuth, iron, mercury, molybdenum, tin, tungsten, vanadium, and zinc. All it needs are industrial resources to explore and exploit these natural treasures.

The financial system is powered by a central bank called the National Bank of Kyrgyzstan. Other supporting financial entities include Agricultural, Industrial, and Commercial banks. These provide savings and lending services to individuals and trade organizations.

Many efforts have been extended to suppress its existent fiscal crisis. These include the assistance given by Western Benefactors and International Monetary Fund. These are not enough though to pacify the economic malady. Privatization has been seen to resolve these issues but relevant programs failed to achieve such ends.

Share this page: