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Sub Saharan Africa

Uganda

 Flag of Uganda

Last reviewed: 31 July 2009

Country information

ECONOMY

Basic Economic Facts

GDP: US$14 billion (2008 est)
GDP per capita: $440 (2008-9)
Annual Growth: 7% (2008-9)
Inflation: 5.7% (2007 est)
Exchange rate:  2060 Ush = $1 (July 2009) 3373 Ush = £1 (July 2009)
Major Industries: agriculture (coffee, tea, fish, fresh flowers, tobacco), mining, construction, manufacturing, textiles services.
Major trading partners: Kenya, UK, South Africa, India. UAE

Uganda relies heavily on agriculture, the basis of livelihood for 80% of the population.  Plantains, cassava, sweet potatoes and maize are major subsistence crops.  The major export crop is coffee, with some revival of tea, tobacco and cotton production.  There is a modest manufacturing and tourism sector and relatively new development of horticulture.  Exports continue to rise.  Successful exploration has revealed oil reserves which may have an important future economic impact.

Uganda's economy has performed well in recent years, averaging around 6% annual growth between 1998 and 2005. By maintaining macroeconomic stability and liberal economic policies it has been able to attract some multinational investment and donor support. GDP is still growing but is below the levels required (approximately 7% per annum) to meet the Millennium Development Goal poverty reduction targets, and the current global economic problems may impede this still further.  Public Administration expenditure still represents too big a percentage of the budget (around 18%) and sufficient revenue collection continues to be difficult.  Despite recent convictions for theft of Global Fund Money, corruption remains a serious problem for Uganda.

Uganda relies heavily on agriculture, the basis of livelihood for 80% of the population.  Plantains, cassava, sweet potatoes and maize are major subsistence crops.  The major export crop is coffee, with some revival of tea, tobacco and cotton production.  There is a modest manufacturing and tourism sector and relatively new development of horticulture.  Exports continue to rise.  Successful exploration has revealed oil reserves which may have an important future economic impact.


IMF Country Reports - Uganda

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