According to the National Statistics Committee, the country’s overall exports declined by 3.4% in the first eight months of the year, with the drop in gold exports contributing significantly to the decrease.
The Central Bank sold $2.8 billion worth of gold between January and August, nearly three times less than in the same period of 2025, according to the data.
Gold exports were recorded only in April and July during the eight-month period, with sales of $1.5 billion and $1.3 billion, respectively. No gold exports were reported in August.
Gold previously accounted for at least a third of Uzbekistan’s total exports. In January–August 2026, however, the precious metal accounted for 12.3% of total export revenues.
By comparison, Uzbekistan exported $8.32 billion worth of gold in January–August 2025, representing 35.2% of the country’s total exports during that period.
Uzbekistan’s gold reserves have been rising as exports of the precious metal have declined. As of September 1, the country held 14.1 million troy ounces of gold, equivalent to 438.56 tonnes. This was up from 12.6 million ounces, or 391.9 tonnes, at the beginning of January.
The country’s gold holdings increased by about 46.66 tonnes over the first eight months of the year.
