The National Statistical Committee has released the latest data on Kyrgyzstan's foreign trade for the first two months of 2024, showing a persistently high import volume. During this period, the country's import volume exceeded exports by six times. However, there has been a gradual increase in export figures, primarily driven by gold shipments, a trend that has been consistent since 2023. Notably, the country continues to actively import passenger cars, although the trade volume has decreased.
Trade with EAEU Countries
Kyrgyzstan engaged in trade with EAEU countries amounting to $4.357 billion.
Gold Dominates Exports
In January-February 2024, Kyrgyzstan exported 1.6 tons of precious metal. Other export items such as ores, metal concentrates, petroleum products, copper scrap, and communication equipment remained unchanged. Surprisingly, passenger cars, previously among the top ten export goods, were absent from the list. Nonetheless, their export volume slightly exceeded $4 million.
Continued Trade in Popular Goods
Kyrgyzstan continues to trade in popular goods from 2023, including washing machines ($489.7 thousand), dishwashers ($45.3 thousand), and sewing machines ($323.7 thousand). While exports of these items are slowly increasing, the country did not trade vacuum cleaners in February, maintaining the same export volume as in January 2024 - $1.2 thousand.
Kyrgyzstan's Trade Partners
The country's main trading partners remain unchanged, with Switzerland being a significant partner due to the high proportion of gold in external trade. Kyrgyzstan focuses on neighboring countries for trade partnerships.
Importing Cars and Dishwashers
Kyrgyzstan's imports of cars from China surged by 13 times in the first two months of 2024 compared to 2023. The country imported 17.6 thousand cars worth $299.4 million from China and 4.7 thousand cars worth $35.2 million from South Korea. Despite a gradual decrease in car exports, Kyrgyzstan continues to increase car imports. Dishwashers remain the second-largest import item, with the country actively purchasing them for the third consecutive year, importing dishwashers worth $386.2 million in January-February 2024.
Key Import Source
China remains the primary source of goods imported into Kyrgyzstan, accounting for over half of the total import volume.
