Uganda records 34% increase in exports in May
Uganda’ exports increased significantly in May 2024, according to the Ministry of Finance, reaching USD 891.97 million (Shs3.279 trillion).
This marks a substantial 39.4% rise from April 2024, when exports were valued at USD 639.86 million (Shs2.353 trillion).
The Ministry’s June 2024 Performance of the Economy Monthly Report attributes this growth to higher earnings from key commodities such as coffee, gold, flowers, and electricity during the month.
The Middle East emerged as the largest market for Uganda’s exports in May 2024, accounting for 34.0% of total exports.
The United Arab Emirates led purchases with merchandise valued at USD 297.65 million (Shs1.094 trillion), with gold being the primary export to this region. Other significant destinations included the East African Community (26.4%), Asia (22.8%), and the European Union (12.6%).
Conversely, imports into Uganda also surged by 31.2% in May 2024, totaling USD 1,244.66 million (Shs4.576 trillion) compared to USD 948.88 million (Shs3.488 trillion) in April 2024. The East African Community was the largest source of imports, contributing 42.7% of the total imports for the month.
These statistics highlight Uganda’s dynamic trade landscape, underscoring both the opportunities and challenges presented by its trade relationships with various global regions.
Latest news
