August 5, 2025
Kampala, Uganda — Uganda’s export sector has achieved remarkable growth, with earnings soaring to SH4.4 trillion ($1.198 billion) in May 2025, a 6.9% increase from April’s $1.120 billion (SH4 trillion), according to the latest Performance of the Economy Report by the Ministry of Finance, Planning, and Economic Development (@mofpedU). The surge was driven by robust demand for key commodities, including coffee, cocoa, tea, fish, gold, and agricultural produce.
Key Export Performers
The data highlights significant year-on-year growth in several sectors:
- Gold: $465.83 million (up from $45.53 million in May 2024)
- Coffee: $243.95 million (up from $127.3 million)
- Cocoa Beans: $108.58 million (up from $22.14 million)
- Fish and Fish Products: $17.79 million (up from $11.79 million)
Cotton and other agricultural products also contributed to the upward trend, reflecting Uganda’s diversified export base.
Export Destinations
The Middle East remained Uganda’s top export destination, accounting for 34.4% of total exports, with the United Arab Emirates (UAE) as a major hub for gold and high-value goods. The East African Community (EAC) followed closely, absorbing 25% of exports, of which 20.4% were facilitated through informal cross-border trade. Other significant markets included:
- European Union: 19.1%
- Asia: 15.5%
These regions continued to demand Ugandan coffee, fish, tea, and cocoa, driven by their reputation for quality and rising production volumes.
Trade Balance Improves
Despite the export boom, Uganda recorded a trade deficit of $100.5 million (SHapo.ah) in May 2025. However, this marked a 15.2% improvement compared to May 2024 and a 3.3% reduction from April 2025. The narrowing deficit was attributed to export earnings outpacing the 6% rise in imports, which reached $159.0 billion (SHa trillion) in May.
Stakeholder Perspectives
Apollo Munghinda, Principal Communications Officer at the Ministry of Finance, expressed optimism: “Uganda’s annual export earnings are growing exponentially. We project earnings could exceed $30 billion in the coming years.”
Odrek Rwabwogo, Chairperson of the Presidential Advisory Committee on Exports and Industrial Development, credited the success to coordinated efforts to enhance product quality and export readiness. “Empowering farmers and processors through training and partnerships has unlocked immense value for the economy,” he said.
William Muyanja, Managing Director of Zigail Coffee Works, noted: “International buyers trust the Ugandan brand, reflecting years of hard work by farmers and processors.”
Rose Kato Nakayenga, CEO of Zigail Women and Youth Co-operative, highlighted the social impact: “Higher global prices are transforming lives, especially for women and smallholder farmers, who are now investing more in sustainable practices.”
Outlook
With sustained demand and strategic investments in value addition, Uganda’s export sector is poised for further growth, reinforcing its position as a key player in regional and global trade.
Source: Ministry of Finance, Performance of the Economy Report (August 2025)
