Africa-Press – Uganda. Uganda’s external trade has recorded a historic leap, with merchandise exports surging by 64.3 percent in the twelve months ending June 2025.
Data from the Ministry of Finance shows that export earnings rose to US$1.15 billion (Shs4.4 trillion), up from US$702.5 million (Shs2.7 trillion) registered in June 2024.
The robust growth was largely driven by increased receipts from traditional exports such as coffee, tea, and fish, alongside strong performance in flowers and mineral products, particularly gold.
On the import side, merchandise imports also expanded sharply, rising by 50.7 percent from US$947.4 million (Shs3.6 trillion) in June 2024 to US$1.43 billion (Shs5.5 trillion) in June 2025.
Beyond goods, Uganda’s service exports continued to thrive. Tourism, the country’s single-largest service export, registered inflows worth US$1.52 billion (Shs5.8 trillion) in the twelve months to March 2025, compared to US$1.36 billion (Shs5.2 trillion) over the same period in 2024.
Officials attribute the rebound to sustained peace and security, improved competitiveness of Uganda’s tourism offerings, and continued government investment in infrastructure, including Uganda Airlines and strategic road networks leading to national parks.
Foreign Direct Investment (FDI) also remained resilient, reflecting growing investor confidence in Uganda’s economy. In 2024, FDI inflows reached US$3.3 billion (Shs12.6 trillion), up from US$2.99 billion (Shs11.4 trillion) in 2023.
Much of this was spurred by ongoing developments in the oil and gas sector as the country races towards first oil, as well as broader opportunities in manufacturing, agro-processing, and real estate.
Meanwhile, remittances from Ugandans abroad continued to play a vital role as one of the country’s top sources of foreign exchange.
In 2024, inflows reached US$1.4 billion (Shs5.3 trillion), cushioning the economy and supporting household incomes across the country.
Over the past decade, Uganda’s economic structure has undergone a significant transformation. Fifteen years ago, coffee accounted for more than three-quarters (75.6%) of total merchandise exports.
As of June 2025, coffee’s share has narrowed to 20.9%, reflecting a more diversified export basket. Gold now leads with 39.3%, followed by cocoa beans (5.8%), base metals and related products (2.1%), and sugar (1.9%).
This diversification is further illustrated by the emergence of 32 new export products over the last fifteen years, ranging from ceramic tiles and veneer sheets for plywood to manufactured tobacco, soybean residues, butter, gelatine, and even cosmetic products such as hair care items.
These shifts underline Uganda’s gradual transition from a raw-material-based economy to one with a growing share of manufactured exports.
Speaking at the Uganda Media Centre, Minister of Finance, Planning and Economic Development Hon. Matia Kasaija expressed optimism about the country’s economic trajectory.
“Uganda’s economy remains robust, supported by stable inflation, a stronger shilling, growing economic activity, and increased private sector credit growth. Going forward, our Ten-fold Growth Strategy will propel this economy from the current US$61 billion (Shs233 trillion) to US$500 billion (Shs1,910 trillion) over the next fifteen years,” he said.
With exports, FDI, and remittances all on an upward trend, Uganda appears to be laying the groundwork for sustained economic expansion. The challenge, however, will be to maintain competitiveness, deepen industrialisation, and ensure that the benefits of growth translate into jobs and improved livelihoods for citizens.
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