In January-March, Uzbekistan's international trade turnover amounted to $17.3 billion, which is $1.37 billion, or 8.6%, more than in the same period of 2024.
Exports reached $8.1 billion, recording an increase by 24.4% compared to the first quarter of last year ($6.5 billion). Imports continued to decline year-to-date - $9.2 billion (-2.3%). As a result, the negative balance of international trade turnover (excess of imports over exports) decreased to $1.09 billion (in January-March 2024 it stood at $2.9 billion, 2023 - $3.3 billion).
Gold exports year-to-date reached $3.57 billion, which in value terms is 34% more than in the same period of 2024 ($2.66 billion). In January, there were no deliveries of precious metals abroad, in February — $1.73 billion, in March — $1.84 billion.
The share of gold in total exports increased from 40.9% to 44%. Its physical volume in gold and international exchange reserves also decreased, although the value of the gold reserve has grown significantly against the backdrop of rising quotations, which are breaking records.
If you subtract gold from exports, then international trade turnover increased by only 3.5%.
Energy resources
Uzbekistan imported oil and oil products worth $443.1 million in three months, which is by 16% less than in the same period last year. The volume of gasoline exports also decreased — to $119.9 million (-10.1%).
Oil product exports for this period decreased to $109.5 million (-15.7%) compared to January-March 2024.
Coal imports began a decline and reached $48.8 million (-7.1%), while power supplies from other countries increased — $60.4 million (+5.8%). At the same time, power exports also grew by 12.6% — to $49.3 million.
Uzbekistan significantly reduced gas imports — to $38.5 million, which is 8.5 times less than the figure for the first quarter of last year. At the same time, if last year's report spoke of gas imports worth $360.2 million, then in the updated report this figure was $329 million. Thus, the actual gas imports of $31.2 million were not confirmed by customs declarations. Most of this discrepancy ($30.5 million) fell on the data for January.
In January, gas imports decreased to $21.8 million, in February — to $14 million, in March — $2.7 million, that is, international supplies have virtually ceased.
Against this backdrop, gas exports increased by over 2.5 times to $94.3 million. Here, too, the data on deliveries varies. Last year, gas exports were reported at $45.4 million, while updated data indicate exports at $37 million.
