Uzbekistan to increase annual production of jewelry products to US$40m

President of Uzbekistan Shavkat Mirziyoyev signed a resolution “On measures to further develop the jewelry industry of the Republic of Uzbekistan for 2018-2020”.

According to the document, Uzbekistan intends to increase the output of jewelry products from 589.7 kg in 2018 to more than 1,730 tonnes in 2020. It is expected that the output of jewelry products will grow from US$16.51 million in 2018 to about US$40.37 million in 2020.

It is expected that production of silver products will increase 6.2 times from US$112,000 in 2018 to US$760,500 in 2020, and from gold - 2.4 times from US$16.4 million to US$39.6 million.

Starting from 2019, Uzbekistan plans to start exports of jewelry products. In 2019, Uzbekistan plans to export jewelry products worth US$10.8 million and in 2020 - US$13.72 million.