Kyrgyzstan’s Business Activity Accelerates, Leaving US Behind

Kyrgyzstan’s economy is showing robust signs of expansion, with the country’s latest Purchasing Managers Index (PMI) rising to an impressive 60.9, significantly outperforming the US during the same period, according to data released by the Guarantee Fund in cooperation with the Ministry of Finance.

The figure, well above the neutral 50-point threshold, suggests a notable uptick in business activity and confidence across the Central Asian nation, The Caspian Post reports, citing Kyrgyz media.

By comparison, the US PMI lagged behind, reflecting more moderate growth.

The findings come from the second nationwide economic survey conducted between March 17 and April 14, 2025, covering 969 companies from all regions of Kyrgyzstan. The respondents represented a cross-section of the economy:

66 per cent small businesses

27 per cent medium-sized enterprises

7 per cent large companies

Key Drivers of Growth

The high PMI score is attributed to dynamic performance in key sectors such as agriculture, trade, and services, bolstered by favorable financial conditions and government-backed assistance and investment initiatives.

"The positive momentum reflects growing confidence among Kyrgyz businesses, particularly in the non-manufacturing sectors, which are the backbone of our economy," said a statement from the Guarantee Fund.

The Purchasing Managers’ Index is a widely recognized barometer of economic health in the non-manufacturing sector, which includes trade, finance, transportation, education, healthcare, and tourism. It is derived from multiple business indicators such as:

Volume of new orders

Output and delivery volumes

Employment levels

Inventory stocks

Input purchase prices

PMI values are interpreted as follows:

Above 50: Economic expansion

Below 50: Contraction

50: No change compared to the previous month

Kyrgyzstan’s latest reading of 60.9 marks a significant improvement from the country’s inaugural PMI survey in October 2024, highlighting the nation’s strengthening post-pandemic economic recovery.