BISHKEK, Kyrgyzstan, November 27. The Eurasian Development Bank (EDB) anticipates that Kyrgyzstan's trade balance deficit will continue to shrink by year-end, propelled by a faster pace of export growth compared to imports, Trend reports.
As attested by bank analysts, the 49.6 percent year-on-year increase in exports from January to September 2023 is mostly due to increased delivery of primary metals abroad.
Imports climbed by 21.6 percent year on year, owing to an increase in the volume of imported automobiles and equipment, especially from China, Japan, South Korea, Germany, and the United States.
In the meantime, accordant with the Kyrgyz State Statistical Committee, the country's international trade transaction was $10.790 billion from January to September 2023, a 26.2 percent rise over the same period in 2022. Exports were $2.108 billion, while imports were $8.681 billion.
Kyrgyzstan's largest export destinations were Russia (26 percent of total exports), Switzerland (23.9 percent), Kazakhstan (16.5 percent), and Uzbekistan (9.4 percent).
Kyrgyzstan primarily imported products from China, which accounted for 42.6 percent of the total imports, from Russia, (16.4 percent), and Kazakhstan (7.3 percent).