Economy

CommoditiesEconomyTrade

November’s wet days slowed coffee drying, causing exports to fall

Uganda exported 4.8 per cent less coffee in November than a year ago as shipments of robusta beans fell due to rains that delayed the drying of newly harvested coffee
Jute bags containing coffee beans in a café storage area
Economy

Fitch cuts GDP forecast on lower government spending, fall in net exports

Economy to grow slower in 2023 than previously expected, as government spending slows and net exports fall, according to global research firm BMI
Street scene outside a luggage shop in downtown Kampala
Economy

Private sector credit slows in October

Pace of bank lending to the private sector also slowed down, after having risen to a four-month high in September
Entrance to the personal banking section of a bank
CommoditiesEconomyTrade

Trade deficit gets gold boost

A 96.6% annual increase in goods exports, boosted by gold exports, led to a narrowing of the external trade deficit
Entebbe International Airport, Uganda's sole international airport
Economy

GDP grew 5.5% in third quarter, driven by output in the industrial sector

Industrial and agricultural sectors expanded at healthy pace compared to previous quarter, while services sector slowed down
Hima Cement's plant in Kasese, western Uganda
Economy

BoU’s Monetary Policy Statement for December 2023 — Full text

BoU's monetary policy committee maintained the central bank rate at 9.5 per cent
The crest of the Bank of Uganda on its premises
Economy

Bank of Uganda maintains policy rate at 9.5%

Central bank kept its key policy rate unchanged, as well as the rediscount rate and the bank rate
Bank of Uganda's headquarters in Kampala
Economy

Stanbic Uganda November PMI rises to four-month high

Closely watched measure of private sector health rose for thirteenth straight month on stronger customer demand
Downtown Kampala, where wholesale and retail trade are the dominant economic activities, close to the Old Taxi Park and St Balikuddembe Market
Economy

Construction cost inflation rises to 2.2% in October

Construction inflation rose for the second consecutive month in October, driven by the price of inputs for specialised construction activities
A multi-storied building under construction
EconomyInfrastructure

Uganda gets $252.8mn road construction loan from African Development Bank

Roads, both to international borders, will help connect rural areas and facilitate regional integration
The African Development Bank headquarters building in Abidjan, Ivory Coast
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