Uzbekistan's gold exports increased, while energy imports decreased

The National Statistics Committee reported that Uzbekistan exported gold worth $3.57 billion in the first quarter of this year. According to Gazeta.uz, this is 34% more than in the same period last year.

Precious metals accounted for 44% of the country's total exports. While there were no exports in January, gold worth $1.73 billion was exported in February and $1.84 billion in March. The share of gold in total exports increased from 40.9% to 44%, the report said.

According to the committee, foreign trade turnover reached $17.3 billion (+8.6%), of which exports amounted to $8.1 billion (+24.4%), while imports decreased to $9.2 billion (-2.3%).

Excluding gold, the growth in foreign trade turnover is only 3.5%. This indicates that gold provides the bulk of exports, Gazeta.uz reports.

In the energy sector, imports have decreased sharply. Imports of oil and oil products amounted to $443.1 million, a decrease of 16%. Gas imports fell by 8.5 times, to $38.5 million. Although this figure was indicated as $329 million in the 2024 report, only $298 million was confirmed in official declarations.

According to the Statistics Committee, gas exports increased 2.5 times to $94.3 million. Electricity exports also increased by 12.6% to $49.3 million. This shows that the country's external energy needs are decreasing.