Uzbekistan has marked a remarkable upturn in its gold exports during the initial quarter (January-March) of 2024, reaching an impressive $2.66 billion.
During this period, Uzbekistan's overall foreign trade turnover stood at $15.8 billion, marking a significant increase of nearly $1 billion (6.2%) compared to the corresponding period in 2023. Exports experienced a robust growth of 10%, totaling $6.38 billion, while imports also surged, reaching $9.44 billion. Despite the surge in imports, the foreign trade deficit witnessed a slight decrease, settling at $3.05 billion, which is $232.2 million lower than the previous year.
In the first quarter of 2024, gold exports surged by 10.5% year-on-year, reaching $2.66 billion. This substantial increase compared to the same period in 2023, where the figure stood at $2.41 billion, underscores Uzbekistan's growing prominence in the global gold market. Notably, revenues from gold exports accounted for 41.7% of the country's total exports. March proved to be particularly fruitful, with gold exports amounting to over $1.35 billion, almost mirroring February's figures of $1.32 billion.
Taking a broader view, Uzbekistan's total export volume in 2023 amounted to $24.4 billion, with gold exports constituting a significant portion at 33.4%, equivalent to $8.1 billion.
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