Uzbekistan: gold exports increased by 69 percent in January-August

In January–August 2025, Uzbekistan significantly increased its gold exports, which reached $ 8.42 billion. Compared to the same period last year, the growth was 68.9 percent, which indicates the continuation of the strategic role of the precious metal in the formation of foreign exchange earnings of the country.

The share of gold in the country's export basket increased to 36.7 percent from 28.5 percent a year earlier. Such dynamics show that gold retains its status as the main source of export income, despite the state's efforts to diversify foreign trade flows. Rising prices on world markets and stable demand for precious metals have strengthened Uzbekistan's position as one of the most prominent players in this segment.

The total volume of foreign trade turnover for the first eight months of this year amounted to $ 51.4 billion, an increase of 19.8 percent, or $ 8.49 billion in absolute terms. Exports reached $ 22.9 billion, while imports totaled $ 28.4 billion. The acceleration of export dynamics while maintaining significant import volumes of equipment and manufactured goods indicates structural changes in the economy, where investment imports support modernization, and gold exports serve as a financial buffer.

This configuration of the trade balance reflects the need for further expansion of the range of products supplied. In the long run, the sustainability of the economy will depend on how successfully Uzbekistan can supplement its gold supply with high-value-added products, reducing its sensitivity to price volatility in global markets.