Kyrgyzstan Statistical Report 2024

INTRODUCTION

Kyrgyzstan (also known as the Kyrgyz Republic) is one of the Asian countries in the Eurasian Yearbook. Since independence, the Kyrgyz Republic was officially a unitary parliamentary republic, although it continues to endure ethnic conflicts, revolts, economic troubles, transitional governments, and political party conflicts. In 2021 it reverted to a presidential system.

The country is located in Central Asia. Landlocked and mountainous, Kyrgyzstan is bordered by Kazakhstan to the north, Uzbekistan to the west, Tajikistan to the southwest, and China to the east. Its capital and largest city is Bishkek. The country’s official language is Kyrgyz.

Kyrgyzstan is a member of the Commonwealth of Independent States (CIS), the Eurasian Economic Union (EEU), the Collective Security Treaty Organisation, the Shanghai Cooperation Organisation, the Organisation of Islamic Cooperation, the Turkic Council, the TÜRKSOY community, and the United Nations. 

Kyrgyzstan is one of the least-developed countries in Eurasia, with about half the population employed in agriculture. Large numbers work abroad, particularly in Russia. Remittance inflows accounted for over $1.72 billion in 2022, making Kyrgyzstan one of the most remittance-dependent countries in the world. 

Funds remitted from Russia accounted for 98% of total remittances in 2020. The Kyrgyz government says that improvement of conditions for its citizens working in Russia is a major motive for joining the customs union. 

Increasing financial inclusion, especially in remote regions, is a primary focus of digital banking and payment initiatives in the country, as part of government efforts to transition into a market economy.

As of 2020, the NBKR approved a roadmap for expanding electronic payments and mobile banking across all regions, the Digital Payment Technologies Development Concept was approved for 2020-2022. This also creates a legal framework for the circulation of cryptocurrencies and the activities of cryptocurrency exchange service providers.

In 2021, the NBKR continued to oversee the implementation of the State programme to increase the share of non-cash payments. The bulk of efforts were aimed at providing remote services to the population using existing online services. Particular attention was paid to the development of the Elkart national payment system, including measures taken to integrate it with the payment systems of other countries, implementation of contactless Elkart cards, and expanding the range of the services provided through the Elkart mobile app. In 2022, the implementation of the third stage of the State Program on Increasing the share of non-cash Payments and Settlements was completed. The activities conducted within the framework focused on expanding the population’s access to banking and payment services, including in the remote regions of the country, through the introduction of innovative payment instruments.

STATISTICAL KEY FIGURES FOR 2023/24 PROVIDED IN THIS PROFILE:

NEW IN 2024:

• THE FULL IMPACT OF COVID-19 ON DIGITAL PAYMENTS, CARD PAYMENTS, E-COMMERCE AND M-COMMERCE BY MARKET.
  
• REAL-TIME PAYMENTS INFRASTRUCTURE AND GROWTH STATISTICS BY MARKET.
  
• OPEN BANKING INFRASTRUCTURE, API ROLL-OUT, KEY PLAYERS AND KEY INITIATIVES BY MARKET.
  
• CONTACTLESS AND MOBILE PAYMENTS STATISTICS BY MARKET.
  
• CRYPTOCURRENCY, STABLECOIN AND CBDC INITIATIVES BY MARKET.
  
• FULL UPDATE ON BANK CHANNEL DIGITISATION BY MARKET.
  
• FORECASTING COLUMN ADDED FOR ALL THE MAJOR TABLES.
  
• READER-FRIENDLY DESIGN WITH ENHANCED DATA VISUALISATION.
  
• INDUSTRY DEVELOPMENTS AND BANK DEPLOYMENTS OF EID, BIOMETRICS AND AI.
  
• THE INTEGRATION OF DIGITAL CHALLENGERS AND NEOBANKS INTO THE BANKING INFRASTRUCTURE.

UPDATES FOR 2023-24:

• UPDATED – BANK M&A, RESTRUCTURING AND MARKET POSITIONING.
• CUSTOMER NUMBER KPIS AND ADOPTION OF DIGITAL CHANNEL KPIS.
  
• REAL-TIME PAYMENTS INFRASTRUCTURE AND GROWTH STATISTICS BY MARKET.
  
• OPEN BANKING INFRASTRUCTURE, API ROLL-OUT, KEY PLAYERS AND KEY INITIATIVES BY MARKET.
  
• CONTACTLESS AND MOBILE PAYMENTS STATISTICS BY MARKET.
  
• CRYPTOCURRENCY, STABLECOIN AND CBDC INITIATIVES BY MARKET.
  
• FULL UPDATE ON BANK CHANNEL DIGITISATION BY MARKET.
  
• FORECASTING COLUMN ADDED FOR ALL THE MAJOR TABLES.

PRODUCT INFORMATION

Digital product provided in PDF format. You will receive a download link to a zip file containing your files after checkout. 

VERSION

Version 1.1 - last updated 09/05/2024