Economy of Uganda
| Economy - overview: | Uganda has substantial natural resources, including fertile soils, regular rainfall, and sizable mineral deposits of copper and cobalt. Agriculture is the most important sector of the economy, employing over 80% of the work force. Coffee accounts for the bulk of export revenues. Since 1986, the government - with the support of foreign countries and international agencies - has acted to rehabilitate and stabilize the economy by undertaking currency reform, raising producer prices on export crops, increasing prices of petroleum products, and improving civil service wages. The policy changes are especially aimed at dampening inflation and boosting production and export earnings. During 1990-2001, the economy turned in a solid performance based on continued investment in the rehabilitation of infrastructure, improved incentives for production and exports, reduced inflation, gradually improved domestic security, and the return of exiled Indian-Ugandan entrepreneurs. In 2000, Uganda qualified for enhanced Highly Indebted Poor Countries (HIPC) debt relief worth $1.3 billion and Paris Club debt relief worth $145 million. These amounts combined with the original HIPC debt relief added up to about $2 billion. Growth for 2001-02 was solid, despite continued decline in the price of coffee, Uganda's principal export. Growth in 2003-06 reflected an upturn in Uganda's export markets. |
| GDP (purchasing power parity): | $52.93 billion (2006 est.) |
| GDP (official exchange rate): | $8.526 billion (2006 est.) |
| GDP - real growth rate: | 5.3% (2006 est.) |
| GDP - per capita (PPP): | $1,900 (2006 est.) |
| GDP - composition by sector: | agriculture: 29.4% industry: 22.1% services: 48.5% (2006 est.) |
| Labor force: | 13.76 million (2006 est.) |
| Labor force - by occupation: | agriculture: 82% industry: 5% services: 13% (1999 est.) |
| Unemployment rate: | NA% |
| Population below poverty line: | 35% (2001 est.) |
| Household income or consumption by percentage share: | lowest 10%: 4% highest 10%: 21% (2000) |
| Distribution of family income - Gini index: | 43 (1999) |
| Inflation rate (consumer prices): | 6% (2006 est.) |
| Investment (gross fixed): | 23.5% of GDP (2006 est.) |
| Budget: | revenues: $1.943 billion expenditures: $1.994 billion; including capital expenditures of $NA (2006 est.) |
| Public debt: | 29.3% of GDP (2006 est.) |
| Agriculture - products: | coffee, tea, cotton, tobacco, cassava (tapioca), potatoes, corn, millet, pulses, cut flowers; beef, goat meat, milk, poultry |
| Industries: | sugar, brewing, tobacco, cotton textiles; cement, steel production |
| Industrial production growth rate: | 5.2% (2006 est.) |
| Electricity - production: | 1.894 billion kWh (2004) |
| Electricity - production by source: | fossil fuel: 0.9% hydro: 99.1% nuclear: 0% other: 0% (2001) |
| Electricity - consumption: | 1.596 billion kWh (2004) |
| Electricity - exports: | 165 million kWh (2004) |
| Electricity - imports: | 0 kWh (2004) |
| Oil - production: | 0 bbl/day (2004 est.) |
| Oil - consumption: | 10,890 bbl/day (2004 est.) |
| Oil - exports: | NA bbl/day |
| Oil - imports: | NA bbl/day |
| Oil - proved reserves: | 0 bbl |
| Natural gas - production: | 0 cu m (2004 est.) |
| Natural gas - consumption: | 0 cu m (2004 est.) |
| Current account balance: | -$423 million (2006 est.) |
| Exports: | $961.7 million f.o.b. (2006 est.) |
| Exports - commodities: | coffee, fish and fish products, tea, cotton, flowers, horticultural products; gold |
| Exports - partners: | Belgium 9.8%, Netherlands 9.2%, France 7.8%, Germany 7.5%, Rwanda 5.5%, Sudan 4.7% (2006) |
| Imports: | $1.945 billion f.o.b. (2006 est.) |
| Imports - commodities: | capital equipment, vehicles, petroleum, medical supplies; cereals |
| Imports - partners: | Kenya 34.6%, UAE 8.7%, China 7.2%, India 5.6%, South Africa 5.5%, Japan 4.3% (2006) |
| Reserves of foreign exchange and gold: | $1.4 billion (2006 est.) |
| Debt - external: | $1.456 billion (2006 est.) |
| Economic aid - recipient: | $959 million (2003) |
| Currency (code): | Ugandan shilling (UGX) |
| Currency code: | UGX |
| Exchange rates: | Ugandan shillings per US dollar - 1,834.9 (2006), 1,780.7 (2005), 1,810.3 (2004), 1,963.7 (2003), 1,797.6 (2002) |
| Fiscal year: | 1 July - 30 June |