Uganda - Economy
How is the economy of Uganda? Based on the information we have, Uganda has a low-income, primarily agrarian East African economy; COVID-19 hurt economic growth and poverty reduction; lower oil prices threaten prior sector investments; endemic corruption; natural resource rich; high female labor force participation but undervalued. Key agricultural products in this country include: plantains, sugarcane, maize, cassava, milk, sweet potatoes, beans, vegetables, rice, coffee (2022).
More about the economy of Uganda
| Labor force | 18.881 million (2023 est.) |
|---|---|
| Industrial production growth rate | 3.5% (2023 est.) |
| Industries | sugar processing, brewing, tobacco, cotton textiles; cement, steel production |
| Population below poverty line | 20.3% (2019 est.) |
| Taxes and other revenues | 12.55% (of GDP) (2022 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Ugandan shillings (UGX) per US dollar - |
| Exchange rates 2023 | 3,726.14 (2023 est.) |
| Exchange rates 2022 | 3,689.817 (2022 est.) |
| Exchange rates 2021 | 3,587.052 (2021 est.) |
| Exchange rates 2020 | 3,718.249 (2020 est.) |
| Exchange rates 2019 | 3,704.049 (2019 est.) |
| Debt - external | |
| Debt - external 2019 | $13.85 billion (2019 est.) |
| Debt - external 2018 | $12.187 billion (2018 est.) |
| Debt - external 31 December 2016 | $6.241 billion (31 December 2016 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2018 | $3.359 billion (2018 est.) |
| Reserves of foreign exchange and gold 2017 | $3.721 billion (2017 est.) |
| Reserves of foreign exchange and gold 2016 | $3.098 billion (2016 est.) |
| Current account balance | |
| Current account balance 2022 | -$4.172 billion (2022 est.) |
| Current account balance 2021 | -$3.972 billion (2021 est.) |
| Current account balance 2020 | -$3.598 billion (2020 est.) |
| Public debt | |
| Public debt 2022 | 53.89% of GDP (2022 est.) |
| Budget | |
| Revenues | $5.088 billion (2019 est.) |
| Expenditures | $6.896 billion (2019 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 2.63% of GDP (2023 est.) |
| Remittances 2022 | 2.74% of GDP (2022 est.) |
| Remittances 2021 | 2.85% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 2.4% (2019 est.) |
| Highest 10% | 34.5% (2019 est.) |
| Average household expenditures | |
| On food | 44.2% of household expenditures (2021 est.) |
| On alcohol and tobacco | 0.9% of household expenditures (2021 est.) |
| Imports | |
| Imports 2022 | $11.145 billion (2022 est.) |
| Imports 2021 | $10.686 billion (2021 est.) |
| Imports 2020 | $10.209 billion (2020 est.) |
| Imports (partners) | China 23%, Kenya 15%, India 13%, UAE 7%, Tanzania 6% (2022) |
| Comodities Imports force | vaccines, packaged medicine, plastic products, cars, motorcycles and cycles (2022) |
| Exports | |
| Imports 2022 | $11.145 billion (2022 est.) |
| Imports 2021 | $10.686 billion (2021 est.) |
| Imports 2020 | $10.209 billion (2020 est.) |
| Exports (partners) | UAE 31%, India 12%, Hong Kong 9%, Kenya 8%, Italy 7% (2022) |
| Comodities Exports force | gold, coffee, fish, milk, raw sugar (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $135.668 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $128.923 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $123.267 billion (2021 est.) |
| GDP (official exchange rate) | $49.273 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $2,800 (2023 est.) |
| Real GDP per capita 2022 | $2,700 (2022 est.) |
| Real GDP per capita 2021 | $2,700 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 28.2% (2017 est.) |
| Industry | 21.1% (2017 est.) |
| Services | 50.7% (2017 est.) |
| GDP - composition, by end use | |
| Household consumption | 74.3% (2017 est.) |
| Government consumption | 8% (2017 est.) |
| Investment in fixed capital | 23.9% (2017 est.) |
| Investment in inventories | 0.3% (2017 est.) |
| Exports of goods and services | 18.8% (2017 est.) |
| Imports of goods and services | -25.1% (2017 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 2.83% (2023 est.) |
| Unemployment rate 2022 | 2.93% (2022 est.) |
| Unemployment rate 2021 | 3.42% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 4.5% (2023 est.) |
| Male | 3.4% (2023 est.) |
| Female | 5.6% (2023 est.) |
All Important Facts about Uganda
Want to know more about Uganda? Check all different factbooks for Uganda below.
