Uzbekistan’s gold exports amounted to $1.35 billion in March, with a cumulative export value of $2.66 billion since the beginning of the year, accounting for 41.7% of the country’s total export revenue.
Uzbekistan’s 2023 trade turnover increased by 23.8% to $62.6 billion, yielding a record $13.7 billion trade deficit. Record gold exports reached a third of total volume, while those of textile and manufactured goods declined. Imports surged for food, oil and gas.
Uzbekistan leads global gold sales for the second consecutive month, having sold 11 tons in November 2023. Despite a rise in international reserves in December, the country’s “financial cushion” dropped by $1.2 billion in 2023 to $34.56 billion, marking the first decline since 2018.
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