Uganda a country in East Africa is a landlocked country located near the equator, which makes the land very fertile and ideal for agriculture. There are abundant minerals found in Uganda such as gold, copper, cobalt, tin, diamond, platinum, phosphates, limestone, marble, etc. I'm Emmanuel Katto popularly known as Emmanuel Katto Uganda or Emka Emmanuel Katto, I'm a local journalist from Uganda, I used to cover the latest news, bulletin, or stories from Africa with a special emphasis on Uganda. This article covers some of the stories that mention the recent condition of exports in Uganda.
The Exports of Uganda-
Major exports from Uganda include tea, cotton, copper, oil, and fish as well. Coffee is the major beverage that is exported from Uganda. The major export partners of Uganda are Sudan, the Democratic Republic of Congo, the Netherlands, Germany, the UAE, and South Africa. India also imports coffee, wood, butter, and cocoa beans from Uganda.
As per the data from “Statista,” the export of Uganda in the year 2019 was 3.56 US billion dollars and in the year 2020, the number was slightly higher at 4.15 US billion dollars the value in the year 2021 has gone significantly little bit higher at 4.19 US billion dollars, which shows the growth of the exports, not that much higher in numbers but still the increased value.
According to the statement of the Ministry of Finance, Planning, and Economic Development of Uganda, the country exported merchandise worth $674.54 million in March 2023, which represents a 93% increase when compared to around $349.44 million exported during February 2023. This is a good sign for any country as this will ultimately enhance the GDP of the country. The report from the Ministry of Finance, Planning and Economic Development also denotes a steady positive rise in the export of coffee which was $71.54 million in the month of March 2023 which is 8.4% higher than the export in the month of February 2023 which was $66.03 million.
The rise in the exports of the merchandise along with coffee shows a growth of the economy as when the country exports more than imports then it will facilitate international trade and stimulate economic activity by creating employment, production, and revenues. Such exports will also help in expanding the markets and reducing dependency.
Conclusion-
Thus, the exports from Uganda have significantly increased over the years marking a positive impact on the growth of the economy. Such an increase in the exports of the country will facilitate trade and business. Increased exports will enhance Economic Growth and Diversification, Foreign Exchange Reserves, Technology and Knowledge Transfer and Access to Wider Markets, etc. This will ultimately boost the GDP of the country and will open new doors in strengthening the economy of Uganda.
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