What you need to know:
The Bank of Uganda report, which was released on Monday, indicates that Uganda’s exports to China grew to $24.68m (Shs95b) from $6.58m (Shs25b) in June.
Uganda’s exports to China rose by 73.3 percent, according to a report by Bank of Uganda.
The report, released on Monday, indicates that Uganda’s exports to China grew to $24.68m (Shs95b) from $6.58m (Shs25b) in June.
During the period, the Bank of Uganda report indicates, Uganda exports to China were largely composed of oil seeds, oleagic fruits, grain, seeds and fruits worth $18m (Shs69b).
Other exports were albuminoids, modified starches, glues and enzymes, which were worth $7.68m (Shs29b) while coffee, tea, mate and spice exports earned Uganda $5.81m (Shs22b).
Uganda also exported raw hides and skins and leather worth $3.84m (Shs14.7b) while lac, gums and resins brought in $125m (Shs4.8b).
Mr John Lwere, the Uganda Export Promotion Board export promotions officer, said that whereas there had been nothing unusual about Uganda’s exports to China such an increase could have been a result of commodity exporters, noting that Uganda continues to expand its export products catalogue, especially processed fruits from Kapeeka Industrial Park.
He also indicated that Uganda had put a lot of emphasis on growing its coffee export sector, skins and hides.
Cumulatively, Uganda’s export earnings during the period to July grew to $73.97m (Shs284b), which was higher than the $40.1m (Shs154b) earned in the same period last year.
In March, while attending a one-day meeting during the Coffee Day organised by the Consulate General of China, Uganda’s Minister for State for Foreign Affairs, Mr Okello Oryem, noted that government was committed to increase coffee exports to China.
The meeting, which was coordinated in Guangzhou with the support of the Uganda Embassy and Uganda Coffee Development Authority, was convened with the purpose of increasing the volume of exported coffee and coffee products from Uganda to China.
Dr Emmanuel Iyamulemye, the Uganda Coffee Development Authority managing director, said then that Uganda’s coffee had arrived in China as early as 2003 but there was need to increase sales within the country by finding ways to further penetrate the Chinese coffee market.
Uganda’s exports to China in 2020, according to the United Nations Comtrade database stood at $39.61m (Shs152b). Therefore, the cumulative increase for the period ended July to $73.97m (Shs284b) is a remarkable increase.