Uzbekistan's exports to Hong Kong have increased 20 times. How?

Uzbekistan's exports to Hong Kong increased by an unprecedented 20 times in January-June 2026, from $26.8 million to $543.1 million. This became known when the National Statistics Committee analyzed data by Gazeta.

The volume of deliveries increased especially sharply in the spring months. In April, exports amounted to $110.3 million, which is an almost 18-fold increase compared to $6.1 million last year. In May, this figure increased by 33.9% compared to April and reached $147.7 million, which is almost 27 times more than in May 2025. In June, a new monthly record was recorded - $ 157.9 million, which is 6.9 percent more than in May and 23 times more than in June last year.

In April-June alone, exports to Hong Kong amounted to about $ 416 million, which is more than 76 percent of total deliveries in the first half of the year.

At the same time, imports from Hong Kong amounted to about $ 51.6 million. A year ago, exports amounted to $ 26.8 million, and imports to $ 45.2 million. As a result, the trade balance changed from minus $ 18.4 million in favor of Uzbekistan to plus $ 491.5 million in one year.

As a result of this growth, Hong Kong became the sixth largest export destination for Uzbekistan, overtaking Turkey with a share of 3.4 percent. Hong Kong accounted for 3.4 percent of the country's total exports. The total volume of trade between the parties increased more than eightfold - from $ 72 million to $ 594.7 million.

The sharp increase is associated with an increase in the export of jewelry from Uzbekistan and the intensification of cooperation with Hong Kong in the field of gold trade.

The Market Inside international trade supply database contains information on the export of jewelry and articles made of precious metals (TIF TN code 7113190000) from Uzbekistan to Hong Kong. The data of this platform are of a commercial nature and do not fully reflect official foreign trade statistics.

According to Market Inside, the largest company supplying goods from Uzbekistan to Hong Kong is Luxury Diamond. Its share accounts for 30.16 percent of the supply volume, or about $ 83.4 million. This company was registered in Tashkent in June 2024, with an authorized capital of 306.5 billion soums. The sole founder is Sodiqov Sarvar Samigjon oglu. According to iHamkor, the company ranks first in the industry by revenue, 15th in Tashkent, and 23rd in Uzbekistan.

In second place is “Goldwish” (or “Vosiq Doda”) with a 22.62 percent share and an export volume of $ 62.5 million, and in third place is “Fatih Jewellery” with 13.41 percent or $ 37.1 million.

The following are in the next places:

* Bronzepeak Enterprises ($6.2 million)

* Termez Gold Production ($6 million)

* Germ Gold ($4.5 million)

About 66 percent of the volume of deliveries to Hong Kong, as shown by Market Inside, is accounted for by only three leading companies - Luxury Diamond, Goldwish and Fatih Jewellery.

At the same time, the total export of jewelry from Uzbekistan in the first half of the year also increased sharply. According to the Ministry of Investment, Industry and Trade, jewelry exports in January-June amounted to $685 million, which is 2.8 times more than in the same period last year.

The sharp increase in trade occurred against the backdrop of the intensification of relations between Uzbekistan and Hong Kong. On June 4, the head of the Hong Kong Special Administrative Region, John Lee Kachhiu, arrived in Tashkent, leading a delegation consisting of representatives of Hong Kong and Chinese companies.

During the visit, he met with Sardor Umurzakov, Advisor to the President of Uzbekistan on Strategic Development, and Prime Minister Abdulla Aripov. The parties discussed the expansion of cooperation between Uzbekistan and Hong Kong in trade, investment and other areas.

On the same day, John Lee also held talks with President Shavkat Mirziyoyev. The head of the Hong Kong administration specifically proposed expanding cooperation in the field of gold trade.

According to him, Hong Kong is forming an international gold trading center, including infrastructure for storage, clearing and delivery of physical metal. Uzbekistan, in turn, has huge gold reserves and production volumes.

“Given that Uzbekistan is a large producer of gold and has large gold reserves, and Hong Kong is rapidly developing its gold trading market, I would also suggest cooperation in the field of gold trading,” John Lee told journalists in Tashkent.

He noted that such cooperation could be mutually beneficial for the two financial centers.

In addition to gold trading and financial cooperation, Uzbekistan and Hong Kong intend to develop relations in the areas of capital markets, asset management, green and sustainable financing, fintech and professional financial services.

Among other promising areas, John Lee listed mining, infrastructure projects, logistics and railways, freight transportation, IT and technological cooperation, as well as education and human capital development. The issues of expanding cooperation and educational exchanges between the Tashkent and Hong Kong stock exchanges are being discussed separately.

During the visit of the John Lee delegation to Kazakhstan and Uzbekistan, the parties signed a total of 96 agreements and memorandums worth more than $ 1.65 billion. They covered trade, investment, finance, technology, aviation and other areas.

The officials also agreed to begin discussions on bilateral agreements on the prevention of taxation and mutual protection of investments, as well as cooperation with Uzbekistan on the simplification of customs procedures.

We recall that by the presidential decree of June 26, 2025, it is planned to increase the export of jewelry from Uzbekistan to $ 300 million. Components for the industry are exempt from customs duties until July 1, 2028. Users who report violations in the precious metals sector through the Tax application will be able to receive 50 percent of the fine amount.