DATA AS OF: 2026-08-03
Economy of Kyrgyzstan — PULSE
Official GDP undercounts an economy like Kyrgyzstan’s: IMF and national estimates put a sizable share of activity outside the books. The physical and behavioral series below measure real economic life — each tile prints its own caveat. 19.5% (2024) — SOURCE: NATIONAL STATISTICAL COMMITTEE OF THE KYRGYZ REPUBLIC (NON-OBSERVED ECONOMY) (2024)
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| Years | KGZ | KAZ | UZB | GEO |
|---|---|---|---|---|
| 2010 | 16.3 | 31.6 | 15.9 | 26.9 |
| 2011 | 17.5 | 50.6 | 18.6 | 31.5 |
| 2012 | 19.8 | 61.9 | 23.6 | 36.9 |
| 2013 | 23.0 | 63.3 | 26.8 | 43.3 |
| 2014 | 28.3 | 66.0 | 35.5 | 49.1 |
| 2015 | 30.2 | 70.8 | 42.8 | 47.6 |
| 2016 | 40.5 | 74.6 | 46.8 | 58.5 |
| 2017 | 50.8 | 76.4 | 48.7 | 59.7 |
| 2018 | 62.8 | 78.9 | 55.2 | 62.7 |
| 2019 | 64.1 | 81.9 | 70.4 | 68.8 |
| 2020 | 72.0 | 85.9 | 71.1 | 72.5 |
| 2021 | 77.1 | 90.9 | 76.6 | 76.4 |
| 2022 | 84.2 | 92.3 | 83.9 | 78.7 |
| 2023 | 91.0 | 92.9 | 89.0 | 81.9 |
| 2024 | 92.0 | 93.4 | 89.5 | 83.8 |
Multiple SIMs per person inflate the level; the trend is meaningful, the level is not.
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| Years | KGZ | KAZ | UZB | GEO |
|---|---|---|---|---|
| 2010 | 96 | 115 | 74 | 102 |
| 2011 | 112 | 148 | 88 | 115 |
| 2012 | 119 | 175 | 69 | 122 |
| 2013 | 116 | 173 | 72 | 131 |
| 2014 | 128 | 161 | 72 | 142 |
| 2015 | 126 | 145 | 71 | 146 |
| 2016 | 125 | 139 | 74 | 146 |
| 2017 | 136 | 143 | 76 | 145 |
| 2018 | 138 | 138 | 72 | 144 |
| 2019 | 133 | 134 | 101 | 142 |
| 2020 | 110 | 125 | 99 | 134 |
| 2021 | 108 | 124 | 102 | 147 |
| 2022 | 107 | 126 | 105 | 154 |
| 2023 | 109 | 127 | 107 | 155 |
| 2024 | 107 | 127 | 110 | 161 |
Mobile-first markets under-index on fixed broadband without being underdeveloped.
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| unit | KGZ | KAZ | UZB | GEO | ARM | MNG |
|---|---|---|---|---|---|---|
| per 100 | 7.8 | 15.3 | 34.7 | 30.4 | 20.3 | 15.8 |
Registered-carrier accounting undercounts small countries.
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| Years | KGZ | KAZ | UZB | GEO |
|---|---|---|---|---|
| 2009 | 0.31 | 1.19 | 1.85 | 0.29 |
| 2010 | 0.38 | 3.10 | 2.11 | 0.16 |
| 2011 | 0.53 | 3.79 | 2.28 | 0.22 |
| 2012 | 0.49 | 4.06 | 2.59 | 0.18 |
| 2013 | 0.77 | 4.79 | 2.61 | 0.19 |
| 2014 | 0.71 | 4.92 | 2.55 | 0.20 |
| 2015 | 0.97 | 5.08 | 2.49 | 0.23 |
| 2016 | 1.02 | 5.01 | 2.38 | 0.22 |
| 2017 | 1.12 | 6.90 | 2.58 | 0.34 |
| 2018 | 1.18 | 5.92 | 3.06 | 0.52 |
| 2019 | 0.87 | 7.66 | 3.69 | 0.51 |
| 2020 | 0.19 | 5.28 | 0.93 | 0.07 |
| 2021 | 0.17 | 8.77 | 2.01 | 0.08 |
| 2022 | 0.82 | 9.76 | 4.23 | 0.17 |
| 2023 | 0.80 | 11.88 | 4.85 | 0.32 |
Low credit depth is both the risk (weak courts and collateral) and the size of the niche.
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| Years | KGZ | KAZ | UZB | GEO |
|---|---|---|---|---|
| 2011 | 11.5 | — | — | 32.9 |
| 2012 | 13.4 | — | — | 35.5 |
| 2013 | 15.7 | — | 8.3 | 39.9 |
| 2014 | 20.1 | — | 8.9 | 44.9 |
| 2015 | 22.8 | 37.7 | 9.1 | 48.2 |
| 2016 | 20.6 | 33.0 | 10.3 | 54.0 |
| 2017 | 21.4 | 29.2 | 13.6 | 55.1 |
| 2018 | 23.4 | 25.9 | 19.6 | 59.5 |
| 2019 | 23.3 | 24.3 | 24.8 | 65.0 |
| 2020 | 26.6 | 25.6 | 30.5 | 79.1 |
| 2021 | 24.2 | 26.0 | 30.5 | 72.9 |
| 2022 | 20.8 | 25.0 | 31.3 | 63.1 |
| 2023 | 19.9 | 26.0 | 32.8 | 66.4 |
| 2024 | 22.3 | 27.3 | 31.5 | 68.3 |
| 2025 | — | 27.7 | 31.2 | 68.4 |
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| unit | KGZ | KAZ | UZB | TJK | GEO | ARM | MNG |
|---|---|---|---|---|---|---|---|
| % | 72.3 | 87.0 | 59.7 | 54.5 | 78.8 | 71.4 | 98.3 |
LLCs only: sole-proprietor (“patent”) activity is not counted.
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| unit | KGZ | KAZ | UZB | GEO | ARM | MNG |
|---|---|---|---|---|---|---|
| per 1,000 | 2.15 | 3.35 | 2.79 | 7.62 | 4.12 | 8.26 |
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| unit | KGZ | UZB | TJK | GEO | ARM | MNG |
|---|---|---|---|---|---|---|
| per 100k | 51.7 | 119.4 | 47.4 | 105.0 | 71.5 | 25.2 |
Remittances are Russia-concentrated — sensitive to the rouble and migration policy.
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| Years | KGZ | KAZ | UZB | GEO |
|---|---|---|---|---|
| 2011 | 27.6 | 0.1 | 7.3 | 10.0 |
| 2012 | 30.8 | 0.1 | 8.1 | 10.5 |
| 2013 | 31.1 | 0.1 | 7.8 | 11.1 |
| 2014 | 30.0 | 0.2 | 7.5 | 11.1 |
| 2015 | 25.3 | 0.2 | 5.0 | 9.6 |
| 2016 | 29.3 | 0.3 | 5.9 | 9.8 |
| 2017 | 32.3 | 0.3 | 9.9 | 10.9 |
| 2018 | 32.5 | 0.3 | 12.4 | 11.4 |
| 2019 | 28.8 | 0.3 | 12.2 | 12.8 |
| 2020 | 31.8 | 0.2 | 10.1 | 13.2 |
| 2021 | 32.6 | 0.2 | 11.4 | 14.0 |
| 2022 | 26.9 | 0.2 | 16.5 | 15.4 |
| 2023 | 18.9 | 0.1 | 13.2 | 13.7 |
| 2024 | 17.6 | 0.1 | 13.7 | 11.9 |
| 2025 | — | 0.1 | 14.3 | 11.2 |