Gold exports will resume when prices increase – Central Bank

Uzbekistan will resume gold exports when prices reach the peak, the Deputy Chairman of the Central Bank Behzod Hamrayev said.

After selling 100 tons of gold in 2020, since the end of last year, Uzbekistan has stopped sales of gold.

As of March 1 of this year, gold and foreign exchange reserves of Uzbekistan amounted to $33.2 billion, including the monetary gold in the form of bullion with a value of $19.73 billion.

In 2020, Uzbekistan exported goods and services worth $15.1 billion, which is 13.4% less than in 2019. Gold accounted for about 44% of total exports (in 2019 – 35%). 18% growth in 2020 was primarily due to rising prices in the world market.