BISHKEK, Kyrgyzstan, August 29. The Eurasian Development Bank (EDB) attributes the increase in Kyrgyzstan's imports to higher deliveries of machinery and equipment, primarily from China, Trend reports.
According to the EDB, imports to Kyrgyzstan from January through June 2023 grew by 30 percent compared to the same period in 2022, while exports grew by 34.6 percent.
The growth in the value of exports was attributed to the resumption of gold supplies, which contributed significantly to export growth.
"The foreign trade turnover of Kyrgyzstan increased by 31.1 percent year-on-year from January through June 2023. However, mutual trade with EAEU member countries decreased by 6.6 percent, mainly due to a decline in external trade operations with Russia," the EDB reports.
The bank anticipates that for the remaining part of the year, gold supply will continue to drive export growth, while imports will be fueled by an increase in the volume of goods imported from China.
According to the State Statistical Committee of the country, Kyrgyzstan's foreign trade turnover reached $6.7 billion from January through June 2023. The country's exports amounted to $1.306 billion, while its imports totaled $5.398 billion.