KAMPALA, Mar 26 – Uganda recorded a sharp rise in export earnings at the start of the year, with receipts from merchandise trade climbing significantly on the back of strong performance across key sectors.
According to the finance ministry, export revenues rose by 77.6% year-on-year to reach $1.5 billion in January, compared with $844.6 million recorded in the same period last year.
The increase was largely driven by higher earnings from gold, coffee, and a mix of other exports including industrial products, oil re-exports, beans and electricity. Officials noted that the broad-based growth reflects stronger external demand as well as improved export volumes.
Coffee continues to play a central role in the country’s export profile. As Africa’s largest exporter of the commodity, Uganda has benefited from elevated global prices alongside rising shipment volumes in recent years.
At the same time, gold has emerged as a major contributor to export growth. Uganda has steadily positioned itself as a regional hub for gold processing and trade, attracting increased flows from neighbouring countries.
Data from the central bank shows that bullion exports generated $5.8 billion last year, representing a 75.8% increase from the previous year. The surge comes amid a broader shift in global reserve strategies, with central banks increasing gold holdings as part of efforts to diversify away from traditional currencies.
The latest figures underline the growing importance of commodities in supporting Uganda’s external sector, with both traditional and non-traditional exports contributing to the strong start to the year.
