The economy of Uganda is primarily based on agriculture and food processing. Livestock, fishing, manufacturing and mining also play an important role behind the growth of the economy of Uganda.
Economy of Uganda
Uganda facts also reveal that Uganda is rich in natural resources, specifically mining. Agriculture plays a big role in the life as well as economy of Uganda. Over 80% of Uganda's overall work force are engaged in the agricultural sector.
Among all the agricultural products, coffee accounts for the maximum export revenue for Uganda.
Government policy on the economy of Uganda
Since 1986, government of Uganda has been designing some effective strategies and policies to facilitate and stabilize the economy of Uganda. As a part of those programmes, government of Uganda has promoted foreign investors and global agencies to invest in Uganda.
Policy mainly aims at pulling down the inflation, boosting exports and promoting industrial production in Uganda. As an outcome of those policies, during 1990 to 2001, Uganda experienced solid performance in almost every sector, specifically in agriculture and exports. Domestic security started improving and inflation started reducing.
Industries in Uganda are primarily based on sugar, cotton textiles, tobacco, and cement.
Major agricultural products in Uganda include coffee, tea, cotton, tobacco, millet, corn, potatoes etc. and major livestocks are poultry and goat.
The official currency of Uganda is Uganda Shilling, which is abbreviated as UGX.
Ugandan mining is mainly based on minerals like copper, cobalt, and limestone.
Ugandan exports are principally based on coffee, fish, tea, gold, cotton, and flowers.
Ugandan imports are primarily based on vehicles, petroleum, medical appliances and cereals. Trading partners: Major trading partners are Kenya, Switzerland, Netherlands, Belgium, France, India, UAE, South Africa, UK, China, Japan and United States.