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Uganda’s export earnings hit Shs3.129b in January-Finance
A farmer in Uganda spreads out coffee.
What you need to know:
- The value of merchandise imports year-on-year grew by 45.0 percent from $758.98 million (about Shs 2.764 trillion) in January 2024 to $1.100 billion (about Shs 4.006 trillion) in January 2025.
The Ministry of Finance, Planning and Economic Development said in comparison with the same month last year, export earnings in Uganda grew by 50.4 per cent from $571.16 million (about Shs2.080 billion) in January 2024 to $859.22 million (about Shs3.129 billion) in January 2025.
In the performance of the economy monthly report for February 2025, released on March 19, the Ministry officials said this is largely due to increased earnings from coffee and mineral products which rose by 82.9 per cent and 77.9 per cent respectively.
The report indicates that the spike in earnings from coffee was largely driven by its higher prices which rose by over 60 per cent the last year, coupled with a 14.3 per cent increase in quantity.
Specifically, coffee export earnings increased for January 2025 by 36.1 per cent from $115.03 million (about Shs418.965 billion) to $156.50 million (about Shs570.007 billion), primarily due to higher volumes of coffee exports during the month.
“The increase in global prices followed a reduction in the supply of coffee from Brazil and Vietnam (the world’s largest producers of Arabica and Robusta coffee), arising from dry weather conditions in the two countries… The increase in exports was also attributed to higher earnings from electricity, tobacco, simsim, oil re-exports, fish and its products among others,” the Ministry’s report said.
Italy remained the largest market for Uganda’s coffee exports, accounting for 36.9 per cent of the total coffee exports in January 2025. Other significant markets included Belgium (11.9 per cent), India (9.8 per cent), Sudan (9.4 per cent), and Germany (8.3 per cent).
Destination of Uganda’s Exports
The Middle East was the biggest destination of Uganda’s exports, accounting for 32.9 per cent of the total exports in January 2025. Within the Middle East, the United Arab Emirates accounts for 97.7 per cent of Uganda’s exports to the region.
Other notable destinations for Uganda’s exports were the EAC (27.4 per cent), the European Union (16.9 per cent), Asia (14.8 per cent) and the Rest of Africa (4.0 per cent).
Within the European Union, Italy, Belgium, Germany and the Netherlands accounted for close to 90 per cent of exports to the region. Within the EAC, the Democratic Republic of Congo emerged as the largest importer of Uganda’s merchandise, taking up 33.4 per cent ($78.61 million about Shs 286.315 billion) of total exports.
This was followed by South Sudan at 27.1 per cent ($63.80 million about Shs232.374 billion) and Kenya at 21.6 per cent ($50.87 million about Shs185.280 billion).
Merchandise Imports
The value of merchandise imports year-on-year grew by 45.0 per cent from $758.98 million (about Shs 2.764 trillion) in January 2024 to $1.100 billion (about Shs 4.006 trillion) in January 2025. This growth was majorly attributed to the increase in formal private sector non-oil imports and project-related government imports.
These include mineral products, machinery equipment, vehicles and accessories, vegetable products, animal beverages, fats & oils, animal and animal products, among others.
Similarly, computed statistics indicate that on a month-to-month basis, imports increased by 4.3 percent from $1.055 billion (about Shs 3.842 trillion) in December 2024 to $1.100 billion (about Shs4.006 trillion) in January 2025.
“This growth was mainly attributed to higher volumes of project-related Government Imports as well as formal private sector oil-related imports. These include vegetable products, animal, beverages, fats & oils, petroleum products, chemical and related products, plastics, rubber & related products, and electricity, among others,” the Ministry of Finance, Planning and Economic Development said.
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