Uganda Economy

Uganda is a country of eastern Africa which got it’s independence in 1962. The economy of Uganda is primarily based on agriculture and food processing industry. The other industrial sectors which contribute considerably to the economy of Uganda are the manufacturing industry and the mining industry.
It can be said that, the economy of Uganda is gradually advancing towards prosperity.Government of Uganda implemented several economic policies to reinstate price stability and to restore balance of payments.

Government of Uganda also designed some strategies with the objective of developing the infrastructure of the country, particularly in transportation and communications systems. Several programs were undertaken to improve resource allocation, specifically in the public sector.

Major agricultural products in Uganda are coffee, tea, cotton, pearl millet, tobacco, potatoes, maize and pulses. Uganda is one of the leading producers of Coffee. In 2002, coffee alone contributed 27% of Uganda’s overall exports.

Exports:
Major exported products of Uganda are coffee, tea, fish, electrical appliances, iron, gold and steel.
Imports:
Major imported products of Uganda are vehicles, petroleum and cereals. Trading partners: Uganda’s leading trading partners are Kenya, Belgium, Netherlands, France, Germany, UAE, South Africa, India, China, UK, US and Japan.
Currency:
The currency of Uganda is Ugandan shilling which is divided into 100 cents. 1 US Dollar is equal to 1,726.00 Uganda Shilling and 1 Uganda Shilling (UGS) is equal to 0.0005794 US Dollar (USD) as on Thursday, September 13, 2007.
Some Important Statistics:
In 2006:
GDP(Gross Domestic Product) – real growth rate: 5%
GDP – composition by sector:
Agriculture: 29.4%
Industry: 22.1%
Services: 48.5%

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Last Updated on : 25th June 2013