Photo: nuz.uz
In the first nine months of 2025, Uzbekistan sold $9.8 billion worth of gold abroad — a 70.5 percent increase compared with the same period last year, when gold exports totaled $5.8 billion, Gazeta.uz reported, citing data from the National Statistical Committee.
The Central Asian country has been actively exporting gold since the beginning of the year. Between February and April, monthly sales reached around $2 billion, while in September alone they totaled nearly $1.5 billion.
From January to September, gold exports accounted for more than 37 percent of Uzbekistan’s total exports, up from 29 percent in the first nine months of 2024.
A major factor behind this record performance was the global price surge. On October 16, the price of gold nearly reached $4,400 per troy ounce for the first time in history before dipping slightly in a market correction. As of October 22, the New York Mercantile Exchange listed gold at $4,114 per ounce.
Many analysts and economists expect the precious metal to set a new record by the end of the year, surpassing $4,500.
The situation in the gold market has also affected other indicators in Uzbekistan. As of June 1, the country’s international reserves totaled $49.66 billion — the highest figure since the Central Bank began publicly reporting statistics in 2013.
The Navoi Mining and Metallurgical Combine (NMMC) — the world’s fourth-largest gold producer — also reported record figures. In the first half of 2025, its net profit exceeded $1.5 billion, and revenue reached $4.7 billion. According to company management, these results were driven by rising global gold prices and higher sales volumes.
