Uzbekistan maintains its global dominance in gold exports

In March of this year, Uzbekistan reclaimed its position as the top seller of gold, with sales totaling 11 tons, according to analysts from the World Gold Council.

With 11 tons sold, Uzbekistan secured the leading spot in precious metal sales, narrowly surpassing Thailand by just one ton. Jordan ranked third in the list of top sellers.

In March alone, Uzbekistan exported precious metals valued at $1.35 billion, contributing to a year-to-date total of $2.66 billion, representing over 40 percent of the country's total exports.

The nation's gold-currency reserves surged to over $34.1 billion in the third month of the year, driven by a sharp rise in global gold prices. However, physical ingot reserves in warehouses dwindled by nearly 11 tons to 357.7 tons, hitting their lowest level since May 2022.

"Last year, Uzbekistan sold 25 tons of gold and became the second in the world. The republic has lagged behind its Kazakh neighbors, who sold twice as much precious metal," the report said.