Kyrgyzstan reduced its current account deficit thanks to growth in gold exports

According to preliminary data, in 2024, Kyrgyzstan's current account deficit amounted to US$4.42 billion, or 25.2% of GDP. For comparison, in 2023, this figure was significantly higher, at 45% of GDP.

The main role in improving the situation was played by a reduction in the trade deficit, as well as growth in revenues from services and transfers.

Exports grew by almost 46% to US$4.92 billion. More than half of this amount was accounted for by gold, with exports totaling US$2.5 billion. Shipments of ore, clothing, footwear, and vegetables also increased. At the same time, exports of fruits, nuts, scrap metal, and live animals declined.

Imports, on the other hand, fell by 2.1% to US$11.41 billion. The main decline was in imports of cars and equipment. However, purchases of manufacturing parts, fuel, fabrics, and metals increased.