Uganda: Visió econòmica i política
Uganda is open to foreign trade, which accounts for 41.7% of its GDP (World Bank). The country is a member of numerous international organisations, such as the WTO, COMESA, EAC (East African Community), ESAAMLG (anti-money laundering group in Eastern and Southern Africa), and IGAD (Intergovernmental Authority for the Development of the Horn of Africa States). The country mainly exports gold (43.8%), coffee (12.4%), cocoa beans (2.4%), tea (1.9%), and petroleum oils (1.9%). Its main imports are gold (22.3%), petroleum oils (11.3¨%), medicaments (3.6%), palm oil (3.3%), and motor cars (2.2%).
Uganda's main trading partners are the United Arab Emirates, Kenya, China, India,Tanzania, South Sudan, the Democratic Republic of Congo, and Italy. The country's trade policy aims to encourage cooperation and integration in East Africa to stimulate production and increase export earnings. Tariffs are not very high and the country has few non-tariff barriers to trade. However, corruption and underdeveloped infrastructure remain major obstacles to trade. The political situation in South Sudan, one of the country's main trading partners with Kenya, continues to affect trade flows. Besides, weak global growth, affected by trade tensions between the United States and China and stagnant growth in Europe, may negatively impact Ugandan exports. The wealth of natural resources, the improvement of national security, and the return of Indo-Ugandan entrepreneurs in exile are factors favouring foreign trade.
Uganda's trade balance is structurally in deficit. In 2021, exports of goods amounted to USD 4.1 billion, while imports reached USD 8.7 billion, resulting on a negative trade balance of USD 3 billion. As for services, exports reached USD 1.8 billion, while imports amounted to USD 3.2 billion. As such, the overall trade balance amounted to a deficit of USD 4.5 billion in 2021. Imports of goods and services should remain high in the coming years due to investment in major infrastructure projects, food needs, and economic growth, which have boosted demand for consumer goods.
Foreign Trade Values | 2017 | 2018 | 2019 | 2020 | 2021 |
Imports of Goods (million USD) | 5,596 | 6,729 | 7,518 | 8,251 | 8,784 |
Exports of Goods (million USD) | 2,901 | 3,087 | 3,477 | 4,149 | 4,193 |
Imports of Services (million USD) | 2,048 | 2,528 | 2,653 | 3,004 | 3,211 |
Exports of Services (million USD) | 1,375 | 1,610 | 1,752 | 882 | 1,852 |
Source: World Trade Organisation (WTO) ; Latest available data
Foreign Trade Indicators | 2017 | 2018 | 2019 | 2020 | 2021 |
Foreign Trade (in % of GDP) | 36.8 | 36.6 | 39.4 | 37.0 | 41.7 |
Trade Balance (million USD) | -1,714 | -2,462 | -2,755 | -2,637 | -3,046 |
Trade Balance (Including Service) (million USD) | -2,136 | -2,647 | -3,623 | -4,635 | -4,527 |
Imports of Goods and Services (Annual % Change) | 2.4 | 8.4 | 7.1 | 0.4 | 18.9 |
Exports of Goods and Services (Annual % Change) | 32.9 | 9.4 | 4.3 | -1.2 | 0.2 |
Imports of Goods and Services (in % of GDP) | 20.2 | 21.6 | 22.3 | 21.6 | 25.9 |
Exports of Goods and Services (in % of GDP) | 16.7 | 15.1 | 17.1 | 15.4 | 15.8 |
Source: World Bank ; Latest available data
Foreign Trade Forecasts | 2022 | 2023 (e) | 2024 (e) | 2025 (e) | 2026 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | -8.1 | 14.4 | 9.4 | 5.1 | 31.0 |
Volume of imports of goods and services (Annual % change) | -1.0 | 21.2 | 14.0 | 14.9 | 3.4 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
Member of EAC - East African Community
Member of Cotonou Agreement
Member of African Growth and Opportunity Act beneficiary country
Main Customers (% of Exports) |
2020 |
United Arab Emirates | 44.5% |
Kenya | 11.2% |
South Sudan | 8.6% |
Democratic Republic of Congo | 6.4% |
Italy | 3.3% |
See More Countries | 25.9% |
Main Suppliers (% of Imports) |
2020 |
China | 16.4% |
India | 11.6% |
Kenya | 9.4% |
Tanzania | 9.0% |
United Arab Emirates | 6.0% |
See More Countries | 47.6% |
Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
To go further, check out our service Import Export Flows.
2.0 bn USD of services exported in 2018 | |
52.24% | |
Personal travelPersonal travel | 44.75% |
Business travelBusiness travel | 7.49% |
20.24% | |
9.90% | |
9.22% | |
3.52% | |
2.67% | |
1.08% | |
0.53% | |
0.35% | |
0.25% |
2.5 bn USD of services imported in 2018 | |
55.59% | |
28.28% | |
7.35% | |
Personal travelPersonal travel | 5.39% |
Business travelBusiness travel | 1.97% |
3.15% | |
2.93% | |
1.07% | |
0.69% | |
0.44% | |
0.32% | |
0.19% |
Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
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Actualitzacions: May 2023