Economy
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 to 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. Corruption within the government and slippage in the government's determination to press reforms raise doubts about the continuation of strong growth. In 2000, Uganda qualified for enhanced Highly Indebted Poor Countries (HIPC) debt relief worth USD1.3 billion and Paris Club debt relief worth USD145 million. These amounts combined with the original HIPC debt relief added up to about USD2 billion. Growth for 2001 to 02 was solid despite continued decline in the price of coffee, Uganda's principal export. Solid growth in 2003 to 04 reflected an upturn in Uganda's export markets.
GDP purchasing power parity USD39.39 billion (2004 est.)
GDP real growth rate 5 % (2004 est.)
GDP per capita purchasing power parity USD1,500 (2004 est.)
GDP - composition by sector agriculture 35.8%, industry 20.8%, services 43.6% (2004 est.).
Investment (gross fixed) 22.4% of GDP (2004 est.)
Population below poverty line 35% (2001 est.)
Household income or consumption by percentage share lowest 10% to 4%, highest 10% to 21% (2000)
Distribution of family income; Gini index 37.4 (1996)
Inflation rate (consumer prices) 3.5% (2004 est.)
Labor force 12.41 million (2004 est.)
Labor force by occupation agriculture 82%, industry 5%, services 13% (1999 est.)
Unemployment rate NA (2002 est.)
Budget revenues: $1.491 billion
expenditures $1.727 billion, including capital expenditures of NA (2004 est.)
Public debt 73.9% of GDP (2004 est.),
Agriculture products; coffee, tea, cotton, tobacco, cassava (tapioca), potatoes, corn, millet, pulses; beef, goat meat, milk, poultry, cut flowers
Industries; sugar, brewing, tobacco, cotton textiles, cement, steel production
Industrial production growth rate:
5.6% (2004 est.)
Electricity production 1.775 billion kWh (2002)
Electricity consumption 1.401 billion kWh (2002)
Electricity exports 250 million kWh (2002)
Electricity imports 0 kWh (2002)
Oil production 0 bbl/day (2001 est.)
Oil consumption 8,750 bbl/day (2001 est.)
Oil exports NA
Oil imports NA
Current account balance USD-590.8 million (2004 est.)
Exports USD621.7 million f.o.b. (2004 est.)
Exports commodities coffee, fish and fish products, tea, gold, cotton, flowers, horticultural products
Exports partners Netherlands 15.7%, Belgium 10.3%, US 9%, Germany 8%, Spain 6.7%, Italy 5.2% (2003)
Imports USD1.306 billion f.o.b. (2004 est.)
Imports commodities capital equipment, vehicles, petroleum, medical supplies; cereals
Imports partners Kenya 44.2%, South Africa 6.6%, India 5.6%, UK 5.2%, China 4.5%, France 4.1% (2003)
Reserves of foreign exchange & gold USD1.2 billion (2004 est.)
Debt external USD3.865 billion (2004 est.)
Economic aid recipient USD1.4 billion (2000)
Last updated 26/05/2005.