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Uzbekistan exported nearly $1.3 billion worth of gold in July

Uzbekistan resumed gold exports in July, selling precious metal worth nearly $1.3 billion. This is shown by data from the National Committee on Statistics.

In January–July 2026, Uzbekistan’s total exports amounted to $19.93 billion, down 3.6% compared with the same period last year.

The main factor behind the decline was a reduction in exports of precious metals. At the same time, other major categories showed growth: exports of industrial goods increased by 22.4% to $2.87 billion, while exports of services rose by 35.3% to $7.32 billion.

In the first seven months, Uzbekistan exported gold worth $2.8 billion. This is 2.7 times less than in the same period of 2025, when precious metal exports reached $7.58 billion.

Since the beginning of the year, Uzbekistan has exported gold only in April and July. In January–July, exports of precious metals amounted to $1.5 billion excluding non-monetary gold. Thus, about $1.3 billion of gold exports fell on July.

Before April, Uzbekistan last exported gold in September 2025. At that time, the volume of precious metal shipments was estimated at $1.47 billion.

At the end of 2025, Uzbekistan set a record for gold exports. Over the year, the volume of precious metal shipments exceeded $9.9 billion.

Gold production

The Navoi Mining and Metallurgical Combine mined 1.508 million troy ounces, or 46.9 tons of gold, in the first half of 2026. This is almost 2% less than in the same period last year.

At the same time, the value of the gold produced increased by 41.7% and reached 86.2 trillion soums.

Gold reserves also increased

Uzbekistan’s international reserve assets as of August 1 amounted to $64.34 billion, increasing by 0.92% over the month.

The growth was mainly driven by gold and foreign exchange reserves. The value of the gold stock increased by $365.3 million over the month to $56.12 billion. At the same time, the physical volume of gold in reserves decreased slightly and amounted to about 430.8 tons.

The volume of foreign exchange reserves increased by $208.8 million to $7.65 billion.

During July, the price of gold on the international market fluctuated. At the beginning of the month, a troy ounce was valued at about $4.2 thousand, after which quotations fell below $4 thousand.

In the second half of the month, prices began to rise again and by the end of July exceeded $4.1 thousand per troy ounce.