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Switzerland – main export market of Kyrgyzstan

At the end of 2016, Switzerland was called the main export market of Kyrgyzstan. It is connected with the supply of gold, the Deputy Minister of Economy of the Kyrgyz Republic Eldar Abakirov said today at a government meeting.

 According to him, the slowdown in foreign trade growth in recent years is observed. A negative balance of trade preserves. As a result, the country’s foreign trade turnover in 2016, according to preliminary data, amounted to $ 5.4 billion and decreased by 1.4 percent compared to 2015.

Exports increased by 5.1 percent, having comprised $ 1,544 billion.

This is connected with the growth of export of goods to EEU countries by 4.3 percent and to the third countries — by 5.3 percent. Excluding gold, exports of goods increased by 4.8 percent and amounted to $ 843.1 million.

"Kyrgyzstan is exporting products to more than 80 countries of near and far abroad. Switzerland (42 percent), Kazakhstan (17.8 percent), Russia (9 percent), Uzbekistan (8.1 percent), Turkey, UAE, China and the United Kingdom are the main parts in the formation of the export markets. Deliveries of Kyrgyz enterprises' production to these countries accounted to more than 92 percent of total exports of the republic," Eldar Abakirov said.

The official noted that the growth of exports in Kyrgyzstan is limited by the slow pace of reforming of the technical regulation system, technological backwardness, poor logistics infrastructure, inadequate financing of export, certification procedures and modernization of export-oriented companies.

The priority areas of export as the Cabinet believes are tourism, fruit and vegetables, meat products, textiles and clothing, bottled water.