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The Economy of Uganda

Ugandan Economy

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Economy - overview: Uganda has substantial natural resources, including fertile soils, regular rainfall, and sizable mineral deposits of copper, cobalt, gold, and other minerals. Agriculture is the most important sector of the economy, employing over 80% of the work force. Coffee accounts for the bulk of export revenues. Since 1986, the government - with the support of foreign countries and international agencies - has acted to rehabilitate and stabilize the economy by undertaking currency reform, raising producer prices on export crops, increasing prices of petroleum products, and improving civil service wages. The policy changes are especially aimed at dampening inflation and boosting production and export earnings. During 1990-2001, the economy turned in a solid performance based on continued investment in the rehabilitation of infrastructure, improved incentives for production and exports, reduced inflation, gradually improved domestic security, and the return of exiled Indian-Ugandan entrepreneurs. Growth continues to be solid, despite variability in the price of coffee, Uganda's principal export, and a consistent upturn in Uganda's export markets. In 2000, Uganda qualified for enhanced Highly Indebted Poor Countries (HIPC) debt relief worth $1.3 billion and Paris Club debt relief worth $145 million. These amounts combined with the original HIPC debt relief added up to about $2 billion.

GDP:

GDP - real growth rate: 6.9% (2008 est.) 8.6% (2007 est.) 6.6% (2006 est.)

GDP - per capita:

GDP - composition by sector: agriculture: 29% industry: 24.8% services: 46.2% (2008 est.)

Population below poverty line:

Household income or consumption by percentage share: lowest 10%: 2.3% highest 10%: 37.7% (2002)

Distribution of family income - Gini index: 45.7 (2002)

Inflation rate (consumer prices):

Labor force: 14.48 million (2008 est.)

Labor force - by occupation: agriculture: 82% industry: 5% services: 13% (1999 est.)

Unemployment rate: NA%

Budget: revenues: $2.72 billion expenditures: $3.05 billion; including capital expenditures of $NA (2008 est.)

Industries: sugar, brewing, tobacco, cotton textiles; cement, steel production

Industrial production growth rate: 7% (2008 est.)

Electricity - production: 1.161 billion kWh (2006 est.)

Electricity - production by source:

Electricity - consumption: 899.7 million kWh (2006 est.)

Electricity - exports: 180 million kWh (2006)

Electricity - imports: 0 kWh (2007 est.)

Oil - production: 0 bbl/day (2007 est.)

Oil - consumption: 11,570 bbl/day (2006 est.)

Oil - exports: 115.2 bbl/day (2005)

Oil - imports: 11,540 bbl/day (2005)

Oil - proved reserves: 0 bbl (1 January 2006 est.)

Natural gas - production: 0 cu m (2007 est.)

Natural gas - consumption: 0 cu m (2007 est.)

Natural gas - exports: 0 cu m (2007 est.)

Natural gas - imports: 0 cu m (2007 est.)

Natural gas - proved reserves: 0 cu m (1 January 2006 est.)

Agriculture - products: coffee, tea, cotton, tobacco, cassava (tapioca), potatoes, corn, millet, pulses, cut flowers; beef, goat meat, milk, poultry

Exports: $2.03 billion f.o.b. (2008 est.)

Exports - commodities: coffee, fish and fish products, tea, cotton, flowers, horticultural products; gold

Exports - partners: Netherlands 10.2%, Belgium 9.8%, Germany 7.9%, France 7.2%, Rwanda 5.6% (2007)

Imports: $3.579 billion f.o.b. (2008 est.)

Imports - commodities: capital equipment, vehicles, petroleum, medical supplies; cereals

Imports - partners: Kenya 31.8%, China 7.8%, UAE 7.7%, South Africa 5.9%, India 5.2%, Japan 4.8% (2007)

Debt - external: $1.705 billion (31 December 2008 est.)

Economic aid - recipient:

Currency:

Currency code:

Exchange rates: Ugandan shillings (UGX) per US dollar - 1,658.1 (2008 est.), 1,685.8 (2007), 1,834.9 (2006), 1,780.7 (2005), 1,810.3 (2004)

Fiscal year: