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National Statistical Committee: Export of gold decreases 2.7 times in 2021

Export of gold have decreased 2.7 times since the beginning of 2021. The National Statistical Committee of Kyrgyzstan provided such data.

According to the report of the committee’s specialists, the volume of export deliveries in January-July this year amounted to $ 973.5 million. This is 16.5 percent less than in the same period in 2020.

The decrease in export supplies in January — July 2021 compared to the corresponding period a year ago is associated with a decrease in gold supplies (2.7 times), equipment and mechanical devices — by 26.7 percent, ores and concentrates of precious metals — by 22,7 percent, fruits and nuts — by 15.7 percent, plastics and plastic products — by 2.8 percent.

It was reported earlier that the London Bullion Market Association (LBMA) has suspended Kyrgyzaltyn JSC from the LBMA Good Delivery List for failing to meet the requirements of the Responsible Sourcing Programme.

The LBMA has stated in June that the 11-step Incident Review Process has been invoked for Kyrgyzaltyn in response to «issues concerning delivery and the potential for fraud».

The loss of accreditation will restrict Kyrgyzaltyn’s access to the mainstream market, because major banks that dominate precious metals trading tend to handle only metal from refineries on the LBMA’s Good Delivery list.