Browsing: Uganda’s Exports

Egypt records  $69.96bn in foreign trade in FY 2019/20

Uganda’s trade deficit dropped against the European Union in July as imports of merchandises grew faster than the exports to the same region.

In April 2020, both imports and exports dropped sharply, being the first month of the lockdown as a measure to prevent the spread of the pandemic.

After the aviation sector was closed down, exports of fresh foods were greatly affected before a handful of cargo planes started operating at Entebbe and Jomo Kenyatta International Airports. Despite this, dry commodities like coffee and gold continued blossoming.

As the economy opened up due to relaxation of COVID-19 measures, trade with all regions started growing. In June, Uganda recorded a commodity trade surplus against the European Union of $0.5 million and $124 million against the Middle East.

According to the latest Economic Performance Report for August, the total merchandise trade deficit amounted to $185.44 million in July 2020 which was …

Uganda’s exports rise to $337 million in July

Uganda’s export earnings increased for a second consecutive month to $ 337.19 million in June 2020 from $290.93 million in May 2020, as the country tries to overcome the effects of the recent lock-down as a measure to curb the spread of COVID-19.

Imports value also increased to $ 543.6 million in June from $ 435.6 million in May 2020 this is according to the July 2020 performance of the Economy report.

According to the report, as the country continued to ease measures put in place to prevent the proliferation of COVID19, there was an improvement in economic activity and international trade.

The report also indicated that the Uganda shilling continued to strengthen against the US Dollar in July 2020, registering an appreciation of 0.9 per cent on account of increased inflows amidst subdued demand.

Also Read: Kenya’s exports surpass pandemic expectations for regional trade

Due to an increase in …

Middle East, Comesa leading markets for Ugandan export

The Middle East and Comesa have become the leading export markets for Ugandan goods, according to the Bank of Uganda(BoU) report for the year ended December 2019.

The two markets and others in East Africa, Europe and America saw a 10.1 increase in Uganda’s exports for the period under review.

During the period, the Comesa, Middle East and (Common Market for East and Southern Africa) each fetched earnings of $1.2 billion.

According to some experts, the increasing exports to the Middle East is mainly due to the growing gold exports, specifically to the United Arab Emirates.

Also Read: Uganda growth could lower and oil investment delays are part of it, IMF says

The report also added that the Middle East also received a good share of Uganda’s fruits, coffee and vegetable exports in the same period under review.

The report further indicates that Uganda’s exports receipts from Comesa mainly came …

Uganda's Central bank keeps benchmark lending rate steady

Uganda’s exports for the period ending September experienced an 8 per cent decline, according to the Central Bank of Uganda.

According to a report released by the Bank of Uganda last week, it indicates that earnings from exports for the period ending September stood at $296m compared to $326m in August.

Despite the decline, gold, which has become a key export commodity for Uganda among others such as coffee, fish, tobacco and maize, stood out as some of the commodities that hit impressive earnings during the period.

The report shows that in the period ending September, a total of 1,530 kilogrammes of gold were exported noting that the exports were less than the 1,755 kilogrammes that were exported in August.

Uganda’s Export Promotion Board trade and information executive, Mr John Lwere said they were still analyzing the trends in performance. He also noted that gold is gradually becoming part of …