In January-July 2026, Uzbekistan's exports to Hong Kong reached approximately $716 million, a 22-fold increase compared to the same period last year ($32.5 million). According to data analyzed by Gazeta from the National Statistics Committee, the sharp growth began in the spring.
In April, export volumes amounted to $110.3 million, an 18-fold increase year-on-year. In May, the figure rose to $147.7 million, and in June to $157.9 million. July saw a new monthly record of $172.9 million, more than 30 times higher than in July 2025.
As a result, Hong Kong has become Uzbekistan's sixth-largest export market, surpassing Turkey and Kyrgyzstan. Over the seven months, Hong Kong accounted for approximately 3.6% of total exports. In absolute terms, exports increased by $683.5 million.
For comparison, exports to China increased by $405 million (+31.4%), to Afghanistan by $369 million (+51.1%), and to Russia by $355 million (+14.4%). However, the growth rate of exports to Hong Kong far exceeds all these destinations.
This dramatic increase is largely attributed to the rise in exports of jewelry and precious metals. According to the Ministry of Investments, Industry and Trade, exports of jewelry in January-June reached $685 million, a 2.8-fold increase year-on-year.
Data from the international trade database Market Inside shows that among the largest suppliers are Luxury Diamond, Goldwish, Fatih Jewellery, Global Universal Servis, Vostok Jewellery, SM Newgroup, and East Jewellery. The top three companies (Luxury Diamond, Goldwish, and Fatih Jewellery) accounted for about 66% of the shipment volume.
The growth comes amid strengthening economic ties between Uzbekistan and Hong Kong. In June, Hong Kong's Chief Executive John Lee Ka-chiu visited Tashkent and proposed expanding cooperation in gold trading. He noted that Hong Kong is establishing an international gold trading center, while Uzbekistan has significant gold reserves and production.
Other destinations also saw remarkable growth. Exports to Ireland surged nearly 68-fold to $82.4 million, driven mainly by February shipments. In July, exports to Morocco reached $15.1 million (compared to less than $100,000 in July 2025), and to Taiwan $14.6 million (compared to $45,000 in July 2025).
Overall exports in January-July totaled approximately $19.9 billion, down 3.6% from the previous year. However, July exports grew by about 24% year-on-year, reaching $4.1 billion.
Source: www.gazeta.uz