Kyrgyzstan – Kyrgyzstan’s service sector has demonstrated strong growth from January through August 2024, achieving a gross output of 628.6 billion som ($7.4 billion), which represents a 5.8 percent increase over the same period in 2023.

According to Trend News Agency, data from the country’s National Statistics Committee highlighted that the retail trade was the major growth driver within the sector, expanding by 9.9 percent. In contrast, the wholesale trade sector experienced a slower growth rate, increasing by 1.8 percent. The transportation and cargo storage sector also showed positive momentum, growing by 4.8 percent to reach a total of 56.3 billion som ($668.6 million). Additionally, the hospitality industry saw considerable gains, with revenues from hotels and restaurants up by 19.9 percent, totaling 22.8 billion som ($270.7 million).

Overall, the economic performance of Kyrgyzstan from January to August 2024 has been robust, with the nation’s GDP reaching approximately 798 billion som ($9.4 billion), marking a 6.6 percent rise compared to the same period in 2023.