Uzbekistan sells $3.6 billion worth of gold in three months, making up 44% of total exports

From January to March this year, Uzbekistan’s exports amounted to $8.1 billion, marking a 24.4% increase compared to the same period in 2024. This growth is largely attributed to the Central Bank’s sale of gold at high market prices.

During the first quarter, the country exported nearly $3.57 billion worth of gold—44% of total exports. This figure significantly exceeds the first-quarter results of previous years. For example, in the same period of 2024, Uzbekistan exported $2.664 billion worth of gold.

Even in the record-setting first quarter of 2023, when overall exports reached an unprecedented $8.1 billion, gold exports stood at $2.4 billion.

In comparison, Uzbekistan exported $1 billion worth of gold in Q1 2021 and $2.97 billion in Q1 2022. In the first quarter of 2020, the country did not export any gold at all.

The value of gold exports in Q1 for previous years was as follows:

• 2015 – $823.9 million
• 2016 – $375.1 million
• 2017 – $388.7 million
• 2018 – $1.3 billion
• 2019 – $1.2 billion

Earlier reports noted that the Central Bank exported $1.73 billion worth of gold in February 2025, while no gold exports were recorded in January. This means that more than $1.8 billion worth of gold was exported in March alone.

It is worth noting that as of April 22, 2025, the international price of gold reached a historic high of $3,509 per ounce before experiencing a slight decline.