Report Update Apr 1, 2024

Uzbekistan - Gold - Market Analysis, Forecast, Size, Trends and Insights

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Uzbekistan: Gold Market 2024

Gold Market Size in Uzbekistan

The Uzbek gold market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption, however, continues to indicate a abrupt curtailment. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Gold Production in Uzbekistan

In value terms, gold production contracted to $X in 2021 estimated in export price. Over the period under review, production, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by 41%. As a result, production reached the peak level of $X, and then reduced in the following year.

Gold Exports

Exports from Uzbekistan

In 2021, approx. X tons of gold were exported from Uzbekistan; reducing by -26.7% compared with the previous year's figure. In general, exports continue to indicate a noticeable contraction. The pace of growth was the most pronounced in 2019 when exports increased by 57% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, gold exports declined markedly to $X in 2021. Over the period under review, exports, however, enjoyed a buoyant increase. The growth pace was the most rapid in 2019 with an increase of 69% against the previous year. The exports peaked at $X in 2020, and then declined sharply in the following year.

Exports by Country

Switzerland (X tons), the UK (X tons) and Singapore (X tons) were the main destinations of gold exports from Uzbekistan, together comprising 91% of total exports. The United Arab Emirates lagged somewhat behind, comprising a further 1.6%.

From 2017 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +161.8%), while the other leaders experienced mixed trend patterns.

In value terms, Switzerland ($X), the UK ($X) and Singapore ($X) appeared to be the largest markets for gold exported from Uzbekistan worldwide, together comprising 92% of total exports. The United Arab Emirates lagged somewhat behind, comprising a further 1.6%.

The United Arab Emirates, with a CAGR of +201.0%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average gold export price amounted to $X per kg, shrinking by -3.4% against the previous year. Over the period under review, export price indicated a resilient expansion from 2017 to 2021: its price increased at an average annual rate of +8.3% over the last four years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, gold export price increased by +37.6% against 2017 indices. The most prominent rate of growth was recorded in 2020 when the average export price increased by 30%. As a result, the export price reached the peak level of $X per kg, and then fell slightly in the following year.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the highest price was recorded for prices to the United Arab Emirates ($X per kg) and the UK ($X per kg), while the average price for exports to Singapore ($X per kg) and Switzerland ($X per kg) were amongst the lowest.

From 2017 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+15.0%), while the prices for the other major destinations experienced more modest paces of growth.

Gold Imports

Imports into Uzbekistan

In 2021, supplies from abroad of gold decreased by -53% to X kg for the first time since 2016, thus ending a four-year rising trend. Over the period under review, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2018 when imports increased by 23,400%. Imports peaked at X kg in 2020, and then shrank dramatically in the following year.

In value terms, gold imports fell significantly to $X in 2021. In general, imports, however, posted a significant increase. The pace of growth was the most pronounced in 2018 with an increase of 17,776% against the previous year. Imports peaked at $X in 2020, and then reduced dramatically in the following year.

Imports by Country

In 2021, Italy (X kg) was the main gold supplier to Uzbekistan, with a approx. 100% share of total imports.

From 2017 to 2021, the average annual growth rate of volume from Italy totaled -4.3%.

In value terms, Italy ($X) constituted the largest supplier of gold to Uzbekistan.

From 2017 to 2021, the average annual growth rate of value from Italy amounted to +7.7%.

Import Prices by Country

In 2021, the average gold import price amounted to $X per kg, with a decrease of -2% against the previous year. Over the period from 2017 to 2021, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2019 an increase of 27%. The import price peaked at $X per kg in 2020, and then fell modestly in the following year.

As there is only one major supplying country, the average price level is determined by prices for Italy.

From 2017 to 2021, the rate of growth in terms of prices for Italy amounted to +12.5% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for gold in the world?

The countries with the highest volumes of consumption in 2021 were the UK, China and India, together accounting for 38% of global consumption. Switzerland, the United Arab Emirates, the United States, Belgium, Hong Kong SAR, Thailand, Argentina, Germany, Peru and Canada lagged somewhat behind, together accounting for a further 38%.

What are the largest producers of gold in the world?

The UK remains the largest gold producing country worldwide, accounting for 15% of total volume. Moreover, gold production in the UK exceeded the figures recorded by the second-largest producer, the United States, twofold. The United Arab Emirates ranked third in terms of total production with a 7.5% share.

What are the leading suppliers of gold to Uzbekistan?

In value terms, Italy constituted the largest supplier of gold to Uzbekistan.

What are the leading importers of gold from Uzbekistan?

In value terms, Switzerland, the UK and Singapore constituted the largest markets for gold exported from Uzbekistan worldwide, together accounting for 92% of total exports. These countries were followed by the United Arab Emirates, which accounted for a further 1.6%.

What is the average export price for gold in Uzbekistan?

In 2021, the average gold export price amounted to $56,086 per kg, reducing by -3.4% against the previous year.

What is the average import price for gold in Uzbekistan?

The average gold import price stood at $56,823 per kg in 2021, dropping by -2% against the previous year.

This report provides an in-depth analysis of the gold market in Uzbekistan. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 24412030 - Gold, unwrought or in powder form for non-monetary use (including plated with platinum)
Prodcom 24412035 -
Prodcom 24412040 -
Prodcom 24412050 - Gold, in semi-manufactured forms for non-monetary use (including plated with platinum) (excluding unwrought or in powder form)
Prodcom 24412070 - Monetary gold (including gold plated with platinum)

Country coverage:

Uzbekistan

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Uzbekistan
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023