Kyrgyzstan: Economy Hits Wall During First Half of 2009

Kyrgyz exports shrunk by 17 percent and imports fell by 23.3 percent during the first half of 2009, the Ministry of Economic Development and Trade has revealed.

The decline is connected with a contraction of the Russian and Kazakh economies and a reduction in external and domestic demand, the Akipress news agency reported on August 4.

Foreign trade with Russia fell by 43.6 percent during the first six months of 2009, while trade with Kazakhstan dropped by 40.8 percent during the same period. Over all, the Kyrgyz economy grew by just 0.3 percent from January through June of this year when compared to the same period in 2008.