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Uganda Economy: from the All Country Info reference guide to country facts

Uganda Economy

Uganda Economy: A summary of information about Uganda Economy, from government research data as well as independent research and other sources.

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Uganda: Economy

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 is
the major export crop and 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. In
1990-99, 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. Ongoing Ugandan involvement in the war in the
Democratic Republic of the Congo, growing corruption within the
government, and slippage in the government's determination to press
reforms raise doubts about the continuation of strong growth.
GDP
purchasing power parity - $24.2 billion (1999 est.)
GDP - real growth rate
5.5% (1999 est.)
GDP - per capita
purchasing power parity - $1,060 (1999 est.)
GDP - composition by sector
agriculture: 44%
industry: 17%
services: 39% (1997 est.)
Population below poverty line
55% (1993 est.)
Household income or consumption by percentage share
lowest 10%: 3%
highest 10%: 33.4% (1992)
Inflation rate (consumer prices)
7% (1999)
Labor force
8.361 million (1993 est.)
Labor force - by occupation
agriculture 82%, industry 5%, services
13% (1999 est.)
Unemployment rate
NA%
Budget
revenues: $959 million
expenditures: $1.04 billion, including capital expenditures of $NA
(FY98/99 est.)
Industries
sugar, brewing, tobacco, cotton textiles, cement
Industrial production growth rate
9.3% (FY98/99)
Electricity - production
792 million kWh (1998)
Electricity - production by source
fossil fuel: 0.88%
hydro: 99.12%
nuclear: 0%
other: 0% (1998)
Electricity - consumption
622 million kWh (1998)
Electricity - exports
115 million kWh (1998)
Electricity - imports
0 kWh (1998)
Agriculture - products
coffee, tea, cotton, tobacco, cassava
(tapioca), potatoes, corn, millet, pulses; beef, goat meat, milk,
poultry
Exports
$471 million (f.o.b., 1999)
Exports - commodities
coffee, fish and fish products, tea; electrical
products, iron and steel
Exports - partners
EU 51% (Netherlands 6%, Switzerland 6%, Germany
5%, Belgium 4%), Kenya 5% (1998)
Imports
$1.1 billion (f.o.b., 1999)
Imports - commodities
vehicles, petroleum, medical supplies; cereals
Imports - partners
Kenya 12%, UK 6%, Japan 4%, India 4%, South Africa
(1998)
Debt - external
$3.1 billion (1998 est.)
Economic aid - recipient
$839.9 million (1997)
Currency
1 Ugandan shilling (USh) = 100 cents
Exchange rates
Ugandan shillings (USh) per US$1 - 1,525.8 (January
2000), 1,454.8 (1999), 1,240.2 (1998), 1,083.0 (1997), 1,046.1 (1996),
968.9 (1995)
Fiscal year
1 July - 30 June
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