Kyrgyzstan's jewelers made products from 72.7 kilograms of gold in 2024

Kyrgyzstan’s jewelers made products using 72.7 kilograms of gold in 2024. Deputy Finance Minister Altynbek Kudaiberdiev announced at a meeting of the Committee on Fuel and Energy Complex, Subsoil Use and Industrial Policy of the Parliament.

According to him, import of gold jewelry exceeded local production by 3.5 percent.

Altynbek Kudaiberdiev told that local jewelers made products from 41.4 kilograms of silver in 2024. The import of silver jewelry was 22.13 percent higher.

In total, according to the deputy minister, 1,547 business entities are engaged in the production and sale of gold in the country, 73 of whom are local jewelry manufacturers.

At the same time, the Kyrgyz Republic abolished VAT on metal-containing ores, concentrates, alloys and refined metals imported into the country and used for the production of jewelry. President Sadyr Japarov signed the law on February 12, 2025.

«The abolition of VAT on the import of raw materials is an incentive for the jewelry industry. Any incentive is business development, business development is an increase in profits, a reduction of the shadow sector, because there is no point in buying raw materials on the black market. As a result, more taxes go to the treasury,» the Chairman of the Tax Service, Almambet Shykmamatov, said at the time.