{"id":50474,"date":"2023-06-08T11:05:53","date_gmt":"2023-06-08T11:05:53","guid":{"rendered":"https:\/\/www.africa-press.net\/uganda\/all-news\/ray-of-hope-as-gold-lifts-export-earnings"},"modified":"2023-06-08T12:23:17","modified_gmt":"2023-06-08T12:23:17","slug":"ray-of-hope-as-gold-lifts-export-earnings","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/uganda\/all-news\/ray-of-hope-as-gold-lifts-export-earnings","title":{"rendered":"Ray of hope as gold lifts export earnings"},"content":{"rendered":"

Africa-Press – Uganda. <\/strong><\/span>Gold exports lifted up foreign exchange receipts in March and April, which could suggest an end to a long standoff between government and dealers over tax related issues.<\/p>\n

Data from Bank of Uganda indicates that during March, Uganda exported more than 4,647 kilogramme of gold, returning an export value of $268m.<\/p>\n

Exports continued into April with at least 3,399 kilogramme worth $200m exported in the month.<\/p>\n

However, no details have been provided to show the performance in May.<\/p>\n

The data also indicates that gold exports during March and April were higher than the average 2,400 kilogrammes exported before gold dealers suspended exportation of the commodity over a tax dispute in 2021.<\/p>\n

Uganda had before the suspension, on average, exported gold worth $172.2m, making the commodity the country\u2019s most valuable export.<\/p>\n

Last year, Bank of Uganda indicated that gold dealers had lifted the suspension, resuming exports in June, which returned a value of 165.9m.<\/p>\n

However, there have been mixed trade data as government is yet to settle the tax dispute. Gold had before the disruptions become Uganda\u2019s largest single export, contributing at least 44 percent of total export earnings.<\/p>\n

Government had proposed a charge of $200 (Shs762,356) for every kilogramme of exported gold, which was later implemented.<\/p>\n

However, this prompted gold dealers to suspend export of gold, citing introduction of an inconsiderate charge that would leave them counting losses.<\/p>\n

The exports in March and April lifted the country\u2019s export earnings, which during the period rose to $681m in March and $538m in April.<\/p>\n

Dr Adam Mugume, the Bank of Uganda director for research, has previously indicated that Uganda\u2019s export receipts had been impacted by the failure to register gold exports due to a tax-related dispute between government and dealers.<\/p>\n

However, government has been engaging gold dealers to come up with an agreeable levy.<\/p>\n

For More News And Analysis About Uganda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Uganda. Gold exports lifted up foreign exchange receipts in March and April, which could suggest an end to a long standoff between government and dealers over tax related issues. Data from Bank of Uganda indicates that during March, Uganda exported more than 4,647 kilogramme of gold, returning an export value of $268m. Exports […]<\/p>\n","protected":false},"author":84,"featured_media":50473,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,240,234],"class_list":["post-50474","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-uganda","tag-uganda"],"yoast_head":"\nRay of hope as gold lifts export earnings - Uganda<\/title>\n<meta name=\"description\" content=\"Gold exports lifted up foreign exchange receipts in March and April, which could suggest an end to a long standoff betwe ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/uganda\/all-news\/ray-of-hope-as-gold-lifts-export-earnings\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ray of hope as gold lifts export earnings\" \/>\n<meta property=\"og:description\" content=\"Gold exports lifted up foreign exchange receipts in March and April, which could suggest an end to a long standoff betwe ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/uganda\/all-news\/ray-of-hope-as-gold-lifts-export-earnings\" \/>\n<meta property=\"og:site_name\" content=\"Uganda\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-08T11:05:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-08T12:23:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2023\/06\/sm_1686210663.844074.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/ray-of-hope-as-gold-lifts-export-earnings#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/ray-of-hope-as-gold-lifts-export-earnings\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Ray of hope as gold lifts export earnings\",\"datePublished\":\"2023-06-08T11:05:53+00:00\",\"dateModified\":\"2023-06-08T12:23:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/ray-of-hope-as-gold-lifts-export-earnings\"},\"wordCount\":320,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/ray-of-hope-as-gold-lifts-export-earnings#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/uganda\/sites\/34\/2023\/06\/sm_1686210663.844074.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Uganda\",\"uganda\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/uganda\/all-news\/ray-of-hope-as-gold-lifts-export-earnings#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/ray-of-hope-as-gold-lifts-export-earnings\",\"url\":\"https:\/\/www.africa-press.net\/uganda\/all-news\/ray-of-hope-as-gold-lifts-export-earnings\",\"name\":\"Ray of hope as gold lifts export earnings - 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