unbekannter Gast

Uganda: Economy#

Uganda has substantial natural resources, including fertile soils, regular rainfall, small deposits of copper, gold, and other minerals, and recently discovered oil. Uganda has never conducted a national minerals survey. 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. Since 1990 economic reforms ushered in an era of solid economic growth based on continued investment in infrastructure, improved incentives for production and exports, lower inflation, better domestic security, and the return of exiled Indian-Ugandan entrepreneurs. The global economic downturn hurt Uganda's exports; however, Uganda's GDP growth has largely recovered due to past reforms and sound management of the downturn. Oil revenues and taxes will become a larger source of government funding as oil comes on line in the next few years. Instability in South Sudan is a risk for the Ugandan economy because Uganda's main export partner is Sudan, and Uganda is a key destination for Sudanese refugees. Unreliable power, high energy costs, inadequate transportation infrastructure, and corruption inhibit economic development and investor confidence.

Economic Facts#

GDP (purchasing power parity)$54.37 billion (2013 est.)
$51.47 billion (2012 est.)
$50.08 billion (2011 est.)
note: data are in 2013 US dollars
GDP - real growth rate5.6% (2013 est.)
2.8% (2012 est.)
6.2% (2011 est.)
GDP - per capita (PPP)$1,500 (2013 est.)
$1,400 (2012 est.)
$1,500 (2011 est.)
note: data are in 2013 US dollars
GDP - composition, by sector of originagriculture: 23.1%
industry: 26.9%
services: 50% (2013 est.)
Population below poverty line24.5% (2009 est.)
Household income or consumption by percentage sharelowest 10%: 2.4%
highest 10%: 36.1% (2009 est.)
Labor force - by occupationagriculture: 82%
industry: 5%
services: 13% (1999 est.)
Exports - commoditiescoffee, fish and fish products, tea, cotton, flowers, horticultural products; gold
Exports - partnersKenya 12.3%, Rwanda 10.3%, UAE 10.2%, Democratic Republic of the Congo 9.4%, Netherlands 6.1%, Germany 5.6%, Italy 4.4% (2012)
Agriculture - productscoffee, tea, cotton, tobacco, cassava (manioc, tapioca), potatoes, corn, millet, pulses, cut flowers; beef, goat meat, milk, poultry
Budgetrevenues: $3.2 billion
expenditures: $3.803 billion (2013 est.)
Imports - commoditiescapital equipment, vehicles, petroleum, medical supplies; cereals
Imports - partnersKenya 15.6%, UAE 15.4%, China 12.8%, India 11.7%, South Africa 4.1%, Japan 4% (2012)
Exchange ratesUgandan shillings (UGX) per US dollar -
2,604.6 (2013 est.)
2,505.6 (2012 est.)
2,177.6 (2010 est.)
2,030 (2009)
1,658.1 (2008)
Exports$3.156 billion (2013 est.)
$2.811 billion (2012 est.)
Debt - external$5.223 billion (31 December 2013 est.)
$4.461 billion (31 December 2012 est.)
Fiscal year1 July - 30 June
Imports$4.858 billion (2013 est.)
$5.187 billion (2012 est.)
Industrial production growth rate3.8% (2013 est.)
Industriessugar, brewing, tobacco, cotton textiles; cement, steel production
Inflation rate (consumer prices)6.2% (2013 est.)
14% (2012 est.)
Labor force17.4 million (2013 est.)
Unemployment rateNA%
Distribution of family income - Gini index44.3 (2009)
45.7 (2002)
Public debt30.7% of GDP (2013 est.)
26.3% of GDP (2012 est.)
Current account balance-$1.908 billion (2013 est.)
-$2.232 billion (2012 est.)
Reserves of foreign exchange and gold$3.579 billion (31 December 2013 est.)
$3.167 billion (31 December 2012 est.)
note: excludes gold
GDP (official exchange rate)$22.6 billion (2013 est.)
Stock of direct foreign investment - at home$NA
Stock of direct foreign investment - abroad$NA
Market value of publicly traded shares$7.294 billion (31 December 2012 est.)
$7.727 billion (31 December 2011)
$1.788 billion (31 December 2011 est.)
Central bank discount rate14% (31 December 2010 est.)
9.65% (31 December 2009 est.)
Commercial bank prime lending rate23.7% (31 December 2013 est.)
26.31% (31 December 2012 est.)
Stock of domestic credit$3.67 billion (31 December 2013 est.)
$3.042 billion (31 December 2012 est.)
Stock of narrow money$2.455 billion (31 December 2013 est.)
$2.015 billion (31 December 2012 est.)
Stock of broad money$4.049 billion (31 December 2013 est.)
$3.293 billion (31 December 2012 est.)
Taxes and other revenues14.2% of GDP (2013 est.)
Budget surplus (+) or deficit (-)-2.7% of GDP (2013 est.)
GDP - composition, by end usehousehold consumption: 82.3%
government consumption: 7.6%
investment in fixed capital: 25.5%
investment in inventories: 0.2%
exports of goods and services: 22.8%
imports of goods and services: -38.3%
(2013 est.)
Gross national saving17.4% of GDP (2013 est.)
14.7% of GDP (2012 est.)
13.1% of GDP (2011 est.)