But data from the Uganda Revenue Authority (URA) Annual Data Book 2024/25 reveal that Uganda’s export economy is evolving from a predominantly crop-based export structure into one driven by minerals, processed products, and manufactured goods.
URA data paints the picture of an economy in transition, one that is becoming more industrial, more regionally integrated, and more connected to global commodity markets.
The data book covering four years to June 2025, shows that Uganda’s exports more than tripled from Shs13.16 trillion in June 2022 to Shs40.33 trillion.
The openness index, which measures how integrated an economy is with global trade, has subsequently increased from 28.25 percent in June 2022 to 42.93 percent in June 2025, reflecting Uganda’s growing participation in international commerce.
Even though the country still recorded a trade deficit of Shs16.5 trillion, export growth has accelerated at a pace rarely seen in recent years.
This growth coincides with broader economic expansion, in which gross domestic product at market prices rose to Shs226.34 trillion in June 2025, while real GDP growth stood at 6.3 percent, underlining the increasing role that trade is playing in Uganda’s economic transformation.
Precious metals: The new darling
The most striking shift in Uganda’s export structure is the rise of precious metals and jewellery. For decades, coffee was Uganda’s undisputed export king.
Today, precious metals and jewellery dominate export earnings by a massive margin.
URA data shows that precious metals and jewellery generated Shs15.82 trillion in the year to June 2025, accounting for 39.24 percent of total exports.
Coffee, tea, and spices followed with Shs7.63 trillion, contributing 18.92 percent of total exports.
The rise of mineral exports, particularly gold-related trade, signals a structural transformation in Uganda’s external sector. Much of this trade is linked to gold refining, mineral processing, and re-export activities, with UAE and Hong Kong emerging as leading destinations.
Other fast-growing export products reveal how Uganda is steadily moving beyond raw commodity dependence.
Printed books and newspapers earned Shs3.12 trillion, cocoa and chocolate generated Ss1.96 trillion, while sugar and confectionery brought in Shs778.42b.
Industrial and manufactured exports are also becoming increasingly visible. Uganda exported Shs696.75b worth of motor vehicles and tractors, Shs693.21b in petroleum oils and fuels, Shs676.78b in iron and steel products, Shs586.7b in milling products such as flour and starch, and Shs542.46b in machinery and mechanical appliances.
Together, the top 10 export products generated approximately Shs32.5 trillion, accounting for more than 80 percent of Uganda’s total export earnings in the year ended June 2025.
The export figures point to a quiet but important industrial transformation. Uganda is increasingly exporting processed foods, industrial products, and semi-manufactured goods. Products such as cocoa and chocolate, processed sugar products, iron and steel, petroleum products, machinery, and milling products indicate the gradual expansion of domestic processing and manufacturing capacity.
URA data indicates that manufacturing generated Shs7.19 trillion in gross revenue collections during the 2024/25 financial year, up from Shs5 trillion in the 2021/22 financial year.
Mining and quarrying revenues more than doubled during the same period, rising from Shs321.36b to Shs704.94b, while agriculture, forestry, and fishing revenues also expanded from Shs132.23b to Shs527.84b.
The data suggests that Uganda’s economic transformation is not about abandoning agriculture, but rather about diversifying and adding more value to what the country produces.
New geography of Uganda’s trade
Uganda’s export destinations are changing just as rapidly as its export products. Regional markets remain critically important, but Uganda is increasingly trading with major international commercial hubs in the Middle East, Europe, Asia, and North America.
UAE remains Uganda’s largest export destination, importing goods worth Shs12.12 trillion by June 2025, much of which is linked to precious metals, gold, and jewellery.
Hong Kong follows with imports worth Shs2.7 trillion, reinforcing the growing importance of mineral exports in Uganda’s trade structure.
During the period, Italy imported Ugandan goods worth Shs2.33 trillion, largely driven by coffee, cocoa products, and processed agricultural goods. DR Congo imported goods worth Shs2.33 trillion, mainly cement, steel products, foodstuffs, and manufactured goods.
Kenya continues to be one of Uganda’s most important regional trading partners, importing goods worth Shs1.98 trillion, including sugar products, fuels, processed foods, and industrial goods.
Exports to US stood at Shs1.72 trillion, while UK imported Ugandan goods worth Shs1.66 trillion, dominated by coffee, tea, and cocoa products.
South Sudan imported Shs1.56 trillion worth of goods, mainly food products, beverages, cement, and manufactured consumer goods.
Germany imported goods worth Shs1.19 trillion, while Rwanda imported Shs1.04 trillion worth of processed foods, petroleum products, and manufactured goods.
Fueling industrial growth
One of the most important developments emerging from URA data is Uganda’s growing role as a regional supply and manufacturing hub.
Exports to neighboring countries have risen significantly over the last four years, especially to DR Congo, South Sudan, Rwanda, and Kenya.
Exports to DR Congo alone rose from Shs1.31 trillion in June 2022 to Shs2.33 trillion in June 2025. Uganda’s regional trade is now increasingly driven by cement, steel, processed foods, beverages, petroleum products, and manufactured consumer goods.
This shift suggests that East and Central Africa are becoming critical engines of Uganda’s industrial growth.
Emerging diversified economy
URA data further reveal a country steadily building a more diversified export economy. Traditional agriculture remains a cornerstone of Uganda’s external trade, particularly coffee, tea, and spices. However, it is no longer the sole driver of export earnings.
Uganda is increasingly positioning itself as a mineral-exporting economy, a regional manufacturing supplier, a processor of agricultural commodities, and a growing participant in international industrial value chains.
The expansion of exports to the Middle East and Asia reflects a deeper integration into global commodity markets, while growing exports to neighbouring African countries demonstrate the increasing strength of regional trade.
The transformation is also visible in the rising trade openness, expanding manufacturing revenues, growing mining activity, and increasing customs revenues.