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    Kyrgyzstan

    Kyrgyzstan’s industrial sector slows down

    Kyrgyzstan’s industrial sector slows down

    Analysts from the Eurasian Development Bank (EDB), the industrial sector in Kyrgyzstan experienced a slowdown in growth from 1.2% in January - May 2023 to 0.4% in January - June 2023, media reports.

    This was primarily due to a 9% decrease in gold production compared to the same period in 2022 when growth was around 30%. However, industries excluding gold production have remained stable.

    Experts anticipate that the industrial sector will experience an increase in output growth in the second half of the year as the gold sector recovers.

    Reportedly, mining is the most important industry in Kyrgyzstan, accounting for around 60% of the country's exports. 

    The Kumtor gold mine, operated by Canadian company Centerra Gold, is the largest gold mine in the country and one of the largest in Central Asia.

    Kyrgyzstan's textile industry is a crucial sector that mainly centers around cotton production and processing. The country's longstanding history of manufacturing high-grade cotton has led to the modernization of the industry. New machinery and technology have been introduced in recent years to enhance productivity and efficiency.

    In addition, Kyrgyzstan's food processing industry is significant and focuses on dairy, meat, fruit, and vegetable processing. The agricultural sector is vast, and many small-scale producers are involved in food processing.

    The construction materials industry, on the other hand, is responsible for producing cement, bricks, and other building materials. The sector has witnessed rapid growth in recent years due to increased demand for infrastructure development.

    24.07.2023, 15:25   Comments (0)   1045
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