Uzbekistan increased gold exports to $3.4 bln

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In January-April 2024, Uzbekistan exported gold worth $3.42 billion, which is 11.8% more than the same period in 2023 ($3.06 billion). These data are contained in the report of the Statistics Agency under the President, reports.

The share of gold in Uzbekistan's total exports increased from 39.3% in January-April 2023 to 40.3% this year, the report said.

In April, gold supplies abroad amounted to $758.3 million, in March - $1.35 billion, and in February - $1.32 billion.

In March 2024, Uzbekistan again became the largest seller of gold in the world, selling 11 tons of the precious metal. In February, the country sold 12 tons of gold.

The rise in world gold prices had a significant impact on Uzbekistan’s export performance. In March, gold prices rose from $2,250 to $2,328 per ounce (+3.4%), continuing to reach historical highs.

According to Forbes, in 2020, Uzbekistan for the first time entered the top 10 countries in the world in terms of gold production.

According to the World Gold Council, Uzbekistan produced more than 100 tons of gold (101.6 tons) for the first time. An increase in production volumes allowed Uzbekistan to take 8th place in the ranking.

The country is home to the world's largest open-pit gold mine, Muruntau, which also contains huge deposits of turquoise and arsenic. Gold mining takes place on the basis of two enterprises: Navoi and Almalyk mining and metallurgical plants.

June 5, 2024