Kyrgyzstan’s foreign trade increased by 32.3%

Kyrgyzstan’s foreign trade increased by 32.3% between January and July 2023, according to the Eurasian Development Bank.

“The export of base metals is connected to the expansion of foreign commerce; the value of exports to Eurasian Economic Union nations remained unchanged from the previous year,” according to the Eurasian Development Bank report.

Import growth is connected to an increase in Chinese imports of vehicles, machinery, and knitted goods.

Foreign trade taxes

According to the proposed public budget for 2024, taxes on international commerce and transactions are estimated to be 26.131 billion soms in 2024, 26.788 billion soms in 2025, and 29.719 billion soms in 2026.

In 2024-2026, taxes on international trade and transactions are expected to amount to 1.7-2.1% of GDP.

Customs charges from Eurasian Economic Union member states will contribute to more than 90% of international trade taxes. This amount is projected to be 24.073 billion soms in 2024, 24.679 billion soms in 2025, and 27.496 billion soms in 2026.