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Kyrgyzstan reports increase in GDP growth

Kyrgyzstan Materials 10 February 2023 15:50 (UTC +04:00)
Alyona Pavlenko
Alyona Pavlenko
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BAKU, Azerbaijan, February 10. The volume of gross domestic product (GDP) in Kyrgyzstan amounted to more than 48 billion soms ($553 million) by the preliminary estate in January 2023, Deputy Chairman of the National Statistical Committee of Kyrgyzstan, Bakytbek Shokenov said, Trend reports with reference to Kyrgyz media.

According to him, the value of GDP increased by 4.8 percent in January 2023, compared to the same period of the preceding year.

The growth rate of GDP in Kyrgyzstan in January was influenced by a 20-percent increase in the volume of industrial production.

At the same time, the growth was registered in the service sector (an increase of 50 percent), agriculture sector (an increase of 7 percent) construction (an increase of 2 percent).

Earlier this year, The United Nations Department of Economic and Social Affairs (UN DESA) forecasted a 6-percent growth in the GDP of Kyrgyzstan.

Kyrgyzstan's GDP growth rate made up to 7 percent in 2022. The value of industrial production amounted to about 426 billion soms (about $4.9 billion) last year, which is an increase of 11.4 percent over the corresponding period of 2021.

At the same time, the World Bank (WB) forecasted Kyrgyzstan's GDP growth at 4 percent in 2023.

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