Economy

Economy

Uganda trade deficit falls as imports slide to 5-month low

Uganda's merchandise exports posted their fastest growth in three months in July as imports eased, leading to a slowdown in the merchandise trade deficit
Shipping containers on a container ship
Economy

Bank lending to businesses recovers in July

Bank lending to businesses in Uganda recovered in July after dropping to its second-lowest level this year in June, signalling lower risk aversion and decline in the cost of credit
The Bank of Uganda in Kampala
Economy

Business conditions in the private sector soften in August

Uganda's private sector activity declined to a three-month low in August, a business survey showed on Wednesday, although it was still above the average since the survey started in January 2016
Namirembe Road in downtown Kampala
Economy

Uganda’s consumer price growth slows in August

Uganda's consumer price growth slowed for the second straight month in August thanks to lower core inflation and food prices, bringing the annual inflation rate to its lowest level since June 2018
Statistics House, which houses the Uganda Bureau of Statistics in Kampala
Economy

Uganda’s private sector activity growth rises to record high

Uganda’s private sector firms have reported their strongest month in three and a half years, shrugging off a protracted trade dispute with neighbouring Rwanda
Export containers at a port.
Economy

Economy gets off to a slower start in 2019

The Bureau of Statistics says Uganda's economic growth lost some steam in the first three months of 2019, after rebounding in the last two quarters of 2018
African women sorting farm produce.
Economy

Core inflation rises at fastest pace in two years

Core consumer prices in Uganda rose by their quickest pace in two years in June, buoyed by higher service prices, according to data released on Friday
A teacher and pupils in a classroom
CommoditiesPolitics & Policy

UN report links Uganda to smuggled DRC gold, says exports are underdeclared

Uganda, Rwanda, and Burundi are the main transit routes of gold smuggled from the eastern Democratic Republic of Congo to Dubai, according to a new United Nations report
Houses can be seen in the distance on the other side of Lake Kivu in Bukavu, Democratic Republic of Congo. It is a verdant, lovely scene that belies the country's turbulent recent history, particularly in this region — the eastern part close to Rwanda and Uganda.
CommoditiesPolitics & Policy

Venezuelan gold behind Uganda’s best ever monthly exports

In March, Uganda's merchandise exports surged to $604.4mn from $296.3mn in the previous month, driven by a jump in gold exports to their highest level ever
Ugandan President Yoweri Museveni, Irene Muloni, minister for energy and minerals development (right), AGR Business Development Manager Alphonse Katerebe (centre) and two unidentified people stand near gold flakes and ingots at the African Gold Refinery in Entebbe on 20 February 2017. Alain Goetz, the Belgian owner of the refinery, stands next to Mr Museveni, and is partially obscured from view. The refinery was officially launched on 20 February 2017, and is Uganda's first official gold refinery. Uganda's locally mined gold is negligible, but the country is a transit point for gold exports from the neighbouring Democratic Republic of Congo, which has large reserves, and Tanzania, one of Africa's largest gold producers.
Economy

Bank of Uganda holds policy rate steady, says inflation remains subdued

Bank of Uganda maintained its benchmark lending rate for the third time this year, saying the inflation outlook over the next 12 months is largely unchanged from the last monetary policy committee meeting in April but noted that risks remain elevated
Officials seated around a conference table during a press briefing
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