Uzbekistan’s reserves reach highest level in history – Mirziyoyev

Uzbekistan’s gold and foreign exchange reserves have surpassed $48 billion for the first time in history, President Shavkat Mirziyoyev announced on August 29 at a ceremony marking the 34th anniversary of the country’s independence in Tashkent’s New Uzbekistan Park.

At the event, Mirziyoyev highlighted that entrepreneurship has become a key driver of the national economy. He noted that Uzbekistan’s gross domestic product (GDP) has doubled over the past eight years, reaching $115 billion in 2024, while exports totaled $26 billion. The president projected that GDP will reach $130 billion by the end of 2025.

According to the report, the country’s gold and foreign exchange reserves have exceeded $48 billion for the first time. Over the past eight years, Uzbekistan has also attracted approximately $130 billion in foreign investments.

As of June 1, Uzbekistan’s reserves stood at $49.67 billion, reflecting an increase of $8.48 billion, or 20.6 percent, since the beginning of the year. This growth has continued for five consecutive months. Compared with April, reserves rose by $410.2 million, or 0.83 percent. Uzbekistan’s gold and foreign exchange reserves have now reached their highest recorded level since observations began in 2013, when they totaled $22.41 billion. Although the physical volume of gold in reserves slightly decreased to 11.4 million troy ounces (353.85 tons), the rise in global gold prices pushed its value up by $2.2 billion to $37.65 billion.