Uzbekistan sold more gold in seven months than in the previous year

Uzbekistan sold $5.64 billion worth of gold during the seven months of this year.  This indicator is 2.1 times more than in January-July 2022 ($2.97 billion) and more than the entire last year ($4.11 billion).  This was reported in the report of the Statistical Agency under the President.

In January-July 2023, the foreign trade turnover of Uzbekistan increased by 6.6 billion dollars or 23.3% compared to the same period last year and amounted to 34.97 billion dollars.  In particular, exports increased by 31% to $14.95 billion, while imports amounted to $20.02 billion (+18.1%).  The foreign trade deficit exceeded $5.07 billion, which is less than last year’s figure ($5.54 billion).  This difference was reduced only due to a sharp increase in the volume of gold exports.

In particular, 37.7% of the country’s total export is accounted for by this precious metal.  In July alone, $1.26 billion worth of gold was sold (although gold-currency reserves were reduced), and no exports were made in June.

Also, the share of industrial products in exports decreased from 23.6% to 16.3%, and the value of delivery decreased from $2.7 billion to $2.4 billion.

Excluding gold, exports grew by only 10.4% to $9.3 billion.

The volume of sales of vegetables and fruits increased to $688.4 million (+26.1 percent), grain products – to $281.3 million (+70 percent), oil and oil products – to $142.7 million (+73.1 percent),  automobile spare parts and accessories - $203.7 million (+32.4 percent), office machines and automatic data processing equipment - $20.3 million (19.6 times), telecommunications, recording equipment – 65,  It increased by 8 million dollars (3.9 times).

At the same time, the supply of textile products decreased by 3.9% to $1.86 billion, gas to $341.9 million (-35%), electricity to $47.2 million (-22.4%), o  The supply of metals decreased to 154.3 million dollars (-44.1%), non-ferrous metals – to 809.6 million dollars (-13.4%).

The volume of tourism exports amounted to 1.24 billion dollars (42.1% of the volume of services).  For comparison, in January-July last year, this figure was 732.5 million dollars, and in the same period of 2021 it was 175.9 million dollars.  That is, the income from tourism has increased 7 times in two years.