Kyrgyzstan energy storage product import tariffs

Why is Kyrgyz import tariff so high?

With the Kyrgyz Republic’s entry into the EAEU, the average import tariff rate increased from 5.04% to 9.4%, according to Ministry of Economy and Finance estimates. With member countries opening their consumer markets to one another, small Kyrgyz producers have struggled against greater competition from industrial-scale competitiors.

What are Kyrgyzstan's tariff rates?

Kyrgyzstan’s imposed tariff rates were mostly higher than the Asia-Pacific’s average MFN applied, effectively applied and MFN bound rates of 4.2%, 3.4% and 11.5%, respectively. Kyrgyzstan acceded to the WTO on 20 December 1998. Currently, 99.3% of Kyrgyzstan's tariff lines are bound.

What is the average tariff rate imposed by Kyrgyzstan in 2021?

As for tariffs imposed by Kyrgyzstan, the MFN applied and effectively applied tariff rates averaged 5.7% and 5.7% in 2021, and the average MFN bound tariff rate amounted to 7.8%.

Does Kyrgyz Republic Export or import?

Export and Import . Kyrgyz Republic had a total export of 2,254,702.31 in thousands of US$ and total imports of 9,802,959.42 in thousands of US$ leading to a negative trade balance of -7,548,257.11 in thousands of US$The trade growth is -31.93% compared to a world growth of 5.18%.

Does Kyrgyzstan have a low trade cost?

Kyrgyzstan's trade costs were lowest with the East Asia-3 economies of China, Japan and the Republic of Korea. In 2020, trade costs with the East Asia-3 economies, on average, amounted to 184% of the value of goods, as compared to when the countries trade these goods within their borders.

What is the trade balance of Kyrgyz Republic?

Kyrgyz Republic had a total export of 2,254,702.31 in thousands of US$ and total imports of 9,802,959.42 in thousands of US$ leading to a negative trade balance of -7,548,257.11 in thousands of US$The trade growth is -31.93% compared to a world growth of 5.18%. GDP of Kyrgyz Republic is 10,930,644,915.24 in current US$.