From January to March 2024, Uzbekistan’s foreign trade turnover reached $15.8 billion, marking an increase of nearly $1 billion, or 6.2%, compared to the same period in 2023, according to a report by the Statistics Agency under the President.

Exports, including gold, rose by 10% to $6.38 billion, while excluding gold, they amounted to $3.65 billion, reflecting a 7.4% increase. Imports reached $9.44 billion, with a rise of 3.8%.

The foreign trade deficit narrowed slightly to negative $3.05 billion, decreasing by $232.2 million from previous year.

During the first quarter, gold exports climbed by 10.5% to $2.66 billion, compared to $2.41 billion in the first quarter of 2023, constituting 41.7% of the country’s total exports.

In March, gold exports valued at over $1.35, nearly matching February’s figure of $1.32 billion.

During the same month, gold prices rose from $2,055 to $2,246 per ounce, marking a 9.3% increase, and continuing to set new historical highs. For instance, on April 19, prices exceeded $2,410 per ounce.

In February, Uzbekistan became the world’s largest seller of gold, with 12 tons of precious metal sold. According to the results of 2023, the country ranked second in gold sales.