Kyrgyzstan’s trade turnover with EAEU countries revealed

24 October 2019 12:26 (UTC+04:00)

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By Abdul Kerimkhanov

The volume of foreign and mutual trade in goods of Kyrgyzstan amounted to $4.4 billion in January-August 2019, according to preliminary data. Compared to the same period of 2018 it means decrease by 4.6 percent, according to Kyrgyz Statistical Committee.

Export deliveries totaled $1.2 billion and increased by 10.8 percent in 2019, thanks to a boost in the export of goods to countries outside the CIS (by 33.8 percent).

Import revenues decreased by 9.2 percent compared to January-August 2018, amounting to $3.2 billion due to a decrease in receipts from countries outside the CIS (by 15 percent).

In the structure of trade, the share of exports accounted for 27.2 percent, while imports was 72.8 percent.

The volume of mutual trade between Kyrgyzstan and the EAEU states in January-August 2019 amounted to $1.7 billion and decreased by five percent compared to January-August 2018 .

At the same time, there was a decrease in export deliveries (by 8 percent) and import receipts (by 4.1 percent).

The largest share of mutual trade between the country and the EAEU member countries was in Russia (60.8 percent) and Kazakhstan (36.9 percent).

In January-August 2019, exports of goods to Russia amounted to $163.5 million, and compared with January-August 2018, it decreased by 29.2 percent, while imports amounted to $875.4 million, decreasing by 8.3 percent.

In January-August 2019, exports of goods to the Republic of Kazakhstan amounted to $219.6 million and compared to January-August 2018 increased by 17.5 percent, while imports increased by seven percent, amounting to $411.4 million.

The export of goods to Belarus in January-August 2019 amounted to $8.6 million and compared to January-August 2018 increased by 5.6 percent, imports decreased by 7.8 percent, amounting to $29.4 million.

Key areas include maximizing of the EAEU’s single market efficiency and realizing its opportunities for business and consumers by completely eliminating barriers and minimizing exemptions and restrictions for the free movement of goods, services, capital and labor in the EAEU market.

By 2025, common markets for gas, oil and petroleum products will be formed within the EAEU framework.

The Eurasian Economic Union also known as the Eurasian Union, is a political and economic union of states located in central and northern Eurasia.

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Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94