Uzbekistan resumes gold exports in April

TASHKENT. June 1 (Interfax) - Uzbekistan resumed gold exports after a six-month pause in April 2026, it follows from National Statistics Committee data.

The committee said that gold exports had totaled $1.5 billion in April. The last exports to foreign markets prior to this were recorded in September 2025, and amounted to $1.475 billion.

The exports were resumed against the backdrop of a global increase in gold prices, the international gold price increasing 1.6% month-on-month to $4,625 per ounce at the end of April.

According to data from the Central Bank of Uzbekistan (CBU), the country's gold and foreign currency reserves grew to a record of $70.9 billion in April. The share of gold in Uzbekistan's international reserves grew by $743.6 million to $61.6 billion, while the physical weight of the reserves decreased from 13.4 million to 13.32 million Troy ounces. Gold made up around 86.9% of Uzbekistan's international reserves.

The statistics committee said that Uzbekistan had increased foreign trade 5.8% year-on-year to $26.33 billion in January-April 2026.

Exports decreased 16.8% YoY to $9.97 billion in the reporting period. Imports increased 26.7% to $16.36 billion; as a result, there was a foreign trade deficit of approximately $6.38 billion.

Goods exports excluding gold increased 28.7% to $5.01 billion.

Gold is one of the main export goods and among the most important sources of foreign currency revenue for Uzbekistan. According to official data, the country produced 118.4 tonnes of gold in 2025. The World Gold Council estimates that it increased gold production 8% to 129.1 tonnes in 2024.

Gold in Uzbekistan is produced by two major enterprises - Navoi Mining and Metallurgical Company and Almalyk Mining and Metallurgical Complex.

Uzbek President Shavkat Mirziyoyev said in an address to parliament and citizens in late 2025 that the country would increase its gold output to a planned 175 tonnes by 2030.