Page last updated on February 5, 2013
Economy - overview:
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. Uganda has received about $2 billion in multilateral and bilateral debt relief. In 2007 Uganda received $10 million for a Millennium Challenge Account Threshold Program. 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. Rising food and fuel prices in 2011 led to protests. 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.
GDP (purchasing power parity):
$50.59 billion (2012 est.)
country comparison to the world: 95
$48.56 billion (2011 est.)
$46.2 billion (2010 est.)
note:
data are in 2012 US dollars
[see also:
GDP country ranks ]
GDP (official exchange rate):
$20.46 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]
GDP - real growth rate:
4.2% (2012 est.)
country comparison to the world: 78
5.1% (2011 est.)
6.1% (2010 est.)
[see also:
GDP - real growth rate country ranks ]
GDP - per capita:
$1,400 (2012 est.)
country comparison to the world: 202
$1,400 (2011 est.)
$1,400 (2010 est.)
note:
data are in 2012 US dollars
[see also:
GDP - per capita country ranks ]
GDP - composition by sector:
agriculture: 23.9%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
26.1%
services:
49.9% (2012 est.)
Labor force:
16.55 million (2012 est.)
country comparison to the world: 37
[see also: Labor force country ranks ]
Labor force - by occupation:
agriculture: 82%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
5%
services:
13% (1999 est.)
Unemployment rate:
NA%
[see also: Unemployment rate country ranks ]
Population below poverty line:
24.5% (2009 est.)
[see also: Population below poverty line country ranks ]
Household income or consumption by percentage share:
lowest 10%: 2.4%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
36.1% (2009 est.)
Distribution of family income - Gini index:
44.3 (2009)
country comparison to the world: 46
45.7 (2002)
[see also:
Distribution of family income - Gini index country ranks ]
Investment (gross fixed):
24.9% of GDP (2012 est.)
country comparison to the world: 50
[see also: Investment (gross fixed) country ranks ]
Budget:
revenues: $2.909 billion
[see also: Budget revenues country ranks ]
expenditures:
$3.627 billion (2012 est.)
Taxes and other revenues:
14.2% of GDP (2012 est.)
country comparison to the world: 195
[see also: Taxes and other revenues country ranks ]
Budget surplus (+) or deficit (-):
-3.5% of GDP (2012 est.)
country comparison to the world: 116
[see also: Budget surplus (+) or deficit (-) country ranks ]
Public debt:
26.8% of GDP (2012 est.)
country comparison to the world: 120
27.1% of GDP (2011 est.)
[see also:
Public debt country ranks ]
Inflation rate (consumer prices):
14.7% (2012 est.)
country comparison to the world: 211
18.7% (2011 est.)
[see also:
Inflation rate (consumer prices) country ranks ]
Central bank discount rate:
14% (31 December 2010 est.)
country comparison to the world: 29
9.65% (31 December 2009 est.)
[see also:
Central bank discount rate country ranks ]
Commercial bank prime lending rate:
20.7% (31 December 2012 est.)
country comparison to the world: 15
21.83% (31 December 2011 est.)
[see also:
Commercial bank prime lending rate country ranks ]
Stock of narrow money:
$2.283 billion (31 December 2012 est.)
country comparison to the world: 124
$1.831 billion (31 December 2011 est.)
[see also:
Stock of narrow money country ranks ]
Stock of broad money:
$4.162 billion (31 December 2011 est.)
country comparison to the world: 132
$4.058 billion (31 December 2010 est.)
[see also:
Stock of broad money country ranks ]
Stock of domestic credit:
$3.296 billion (31 December 2012 est.)
country comparison to the world: 127
$2.927 billion (31 December 2011 est.)
[see also:
Stock of domestic credit country ranks ]
Market value of publicly traded shares:
$7.727 billion (31 December 2011)
country comparison to the world: 99
$1.788 billion (31 December 2010)
$3.745 billion (31 December 2010)
[see also:
Market value of publicly traded shares country ranks ]
Agriculture - products:
coffee, tea, cotton, tobacco, cassava (tapioca), potatoes, corn, millet, pulses, cut flowers; beef, goat meat, milk, poultry
Industries:
sugar, brewing, tobacco, cotton textiles; cement, steel production
Industrial production growth rate:
2% (2011 est.)
country comparison to the world: 124
[see also: Industrial production growth rate country ranks ]
Current account balance:
-$2.28 billion (2012 est.)
country comparison to the world: 141
-$1.631 billion (2011 est.)
[see also:
Current account balance country ranks ]
Exports:
$2.735 billion (2012 est.)
country comparison to the world: 133
$2.519 billion (2011 est.)
[see also:
Exports country ranks ]
Exports - commodities:
coffee, fish and fish products, tea, cotton, flowers, horticultural products; gold
Exports - partners:
Kenya 11.6%, Rwanda 9.7%, UAE 9%, Democratic Republic of the Congo 8.8%, Netherlands 7%, Germany 6.7%, Belgium 4.6%, Italy 4.3% (2011)
Imports:
$5.528 billion (2012 est.)
country comparison to the world: 123
