BISHKEK - Kyrgyzstan's gross domestic product grew by 10.1% in January-March 2026, reaching 428.6 billion soms ($4.9 billion), thanks to a sharp increase in industrial production despite a decline in foreign trade at the beginning of the year, Economist.kg reports.
The chemical industry demonstrated the most significant growth, increasing 3.1-fold. Printing, paper, and wood products increased significantly (by 1.7 times), as did pharmaceutical production (by 1.6 times).
Other industrial dynamics:
- Transportation vehicles: +49.5%
- Construction materials: +39.7%
- Mining: +30.4%
- Food and tobacco: +17.9%
- Petroleum products: +14.6%
- Metallurgy: +10.5%
Other sectors also supported economic growth: construction grew by 29.6%, trade by 12.1%, and agriculture by 2.8%.
However, despite domestic growth, foreign trade indicators are declining. In January–February, total foreign and mutual trade in goods amounted to $2.1 billion, down 2.9% from the previous year.
The main contributor to the decline was exports, which fell by 12.5%, while imports showed a more moderate decline of 1.1%. This imbalance is increasing pressure on the country's trade balance and foreign exchange earnings.
Trade within the EAEU remains stable
Against the backdrop of a general decline, trade with countries of the Eurasian Economic Union appears more resilient: over the past two months, it reached $816 million, a decrease of only 0.5% year-on-year.
Kyrgyzstan's key partners in the EAEU:
- Russia — 67.6% of trade;
- Kazakhstan — 29.8%.
Experts note that the contrast between GDP and foreign trade dynamics reflects the dual situation in Kyrgyzstan's economy. On the one hand, a strong impetus for industrial growth and domestic demand supports macroeconomic stability. On the other hand, declining exports signal challenges in the foreign trade sector related to weakening external demand and changing pricing conditions.
The stability of trade within the EAEU underscores the importance of regional integration for maintaining the country's foreign economic ties. Future trends will depend on maintaining industrial growth and the effectiveness of export support measures.
CentralasianLIGHT.org
April 15, 2026