Economy of Uganda

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Economy of Uganda
KampalaSkyline2.jpg
Kampala, the financial centre of Uganda
CurrencyUgandan shilling (USh)
1 July – 30 June
Trade organisations
AU, EAC, COMESA, WTO
Country group
Statistics
GDP
  • Increase $36.484 billion (nominal, 2020 est.)[3]
  • Increase $113.476 billion (PPP, 2020 est.)[3]
GDP rank90th (nominal, 2017)
GDP growth
  • 3.9% (2017) 5.9% (2018)
  • 6.1% (2019e) 6.5% (2020f)[4][note 1]
GDP per capita
  • Increase $916.156 (nominal, 2020 est.)[3]
  • Increase $2,752 (PPP, 2020 est.)[3]
GDP by sector
  • Agriculture: 71.9%
  • Industry: 4.4%
  • Services: 23.7%
  • (2017 est.)
3.2% (2019)[3]
19.1% (31 December 2017 est.)[5]
Population below poverty line
  • 21.4% (2017 est.)[6]
  • 41.7% on less than $1.90/day (2016)[7]
42.8 medium (2016)[8]
Labour force
  • Increase 16,833,878 (2019)[11]
  • 48.0% employment rate (2017)[12]
Labour force by occupation
  • agriculture: 71%
  • industry: 7%
  • services: 22%
  • (2013 est.)[6]
Main industries
sugar processing, brewing, tobacco, cotton textiles, cement, steel production[6]
Increase 116th (medium, 2020)[13]
External
ExportsIncrease $3.339 billion (2017 est.)[6]
Export goods
coffee, fish and fish products, tea, cotton, flowers, horticultural products, gold[6]
Main export partners
ImportsIncrease $5.036 billion (2017 est.)[6]
Import goods
capital equipment, vehicles, petroleum, medical supplies, cereals[6]
Main import partners
FDI stock
$10.909 billion (2016)[14]
Decrease −$1.212 billion (2017 est.)[6]
$7.163 billion (31 December 2017 est.)[6]
Public finances
$11.2 billion ($3.8 billion, domestic) (2018)[15]
–4.1% (of GDP) (2017 est.)[6]
Revenues$3.98 billion (2017)[16]
Expenses$7.66 billion (2017)[16]
Economic aid$3.68 billion (2017)[16]
Standard & Poor's: Decrease B[17]
Foreign reserves
Increase $3.654 billion (31 December 2017 est.)[6]
Main data source: CIA World Fact Book
All values, unless otherwise stated, are in US dollars.

The economy of Uganda has great potential for fast economic growth and development. Uganda has significant natural resources, including large amounts fertile land, regular rainfall, and mineral deposits.[18]

References[change | change source]

  1. "World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Retrieved 29 September 2019.
  2. "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Retrieved 29 September 2019.
  3. 3.0 3.1 3.2 3.3 3.4 "World Economic Outlook Database, October 2019". IMF.org. International Monetary Fund. Retrieved 27 February 2020.
  4. "Global Economic Prospects, January 2020 : Slow Growth, Policy Challenges" (PDF). openknowledge.worldbank.org. World Bank. p. 147. Retrieved 22 January 2020.
  5. Biryabarema, Elias (3 October 2017). "Uganda central bank lowers key lending rate to 9.5 percent". Reuters.com. Retrieved 8 June 2018.
  6. 6.00 6.01 6.02 6.03 6.04 6.05 6.06 6.07 6.08 6.09 6.10 6.11 6.12 "AFRICA :: UGANDA". CIA.gov. Central Intelligence Agency. Retrieved 29 January 2020.
  7. "Poverty headcount ratio at $1.90 a day (2011 PPP) (% of population) - Uganda". data.worldbank.org. World Bank. Retrieved 29 January 2020.
  8. "GINI index (World Bank estimate) - Uganda". data.worldbank.org. World Bank. Retrieved 29 January 2020.
  9. "Human Development Index (HDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 11 December 2019.
  10. "Inequality-adjusted Human Development Index (IHDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 11 December 2019.
  11. "Labor force, total - Uganda". data.worldbank.org. World Bank. Retrieved 29 January 2020.
  12. "Employment to population ratio, 15+, total (%) (national estimate) - Uganda". data.worldbank.org. World Bank. Retrieved 29 January 2020.
  13. The EastAfrican (28 October 2019). "Rwanda Drops In Ranking But Remains Top In Region In Ease Of Doing Business". Daily Monitor. Kampala. Retrieved 28 October 2019.
  14. UNCTAD (November 2017). "Uganda: Foreign Investment: Foreign Direct Investment". Export Entreprises SA Quoting UNCTAD. Retrieved 8 June 2018.
  15. Nakaweesi, Dorothy (27 June 2018). "Uganda Shilling: A currency in free-fall". Daily Monitor. Kampala. Retrieved 27 June 2018.
  16. 16.0 16.1 16.2 KPMG (June 2017). "Uganda Budget Brief 2017: Economic Commentary" (PDF). Nairobi: KPMG Kenya. Retrieved 8 June 2018.
  17. "S&P lowers Uganda sovereign credit rating to B from B+". Reuters. 17 January 2014. Retrieved 9 December 2014.
  18. Bank, World (2017-12-01). "Uganda Economic Update, 10th Edition, December 2017". {{cite journal}}: Cite journal requires |journal= (help)

Notes[change | change source]

  1. FY based numbers