Uganda’s total exports have grown to $12.7 billion (Shs46 trillion) in the year ending November 2025, marking a 33 percent rise from the previous year’s $8.5 billion (Shs30 trillion).
According to the latest report from the Bank of Uganda (BoU), the major drivers of this growth were the gold and coffee sectors. Gold exports, in particular, have been a shining star, with earnings soaring to $5.8 billion (Shs21.1 trillion) in the period under review. This represented a staggering 44 percent increase from the previous year, when gold exports were valued at $3.3 billion (Shs11.9 trillion).
The gold sector’s success can be attributed to a combination of favourable policies and the presence of refineries in the country.
Uganda has experienced a surge in gold exports over the past three years, with the country importing raw gold from neighboring countries such as Tanzania, Zimbabwe, and the Democratic Republic of Congo (DRC). This strategic move has not only boosted trade but also positioned Uganda as a key player in the regional gold market.
According to Bank of Uganda figures, the country exported 8,298 kilogrammes of gold in October, more than double the 3,765 kilogrammes shipped in September.
This shows that October’s windfall is not merely a price effect but a real increase in quantities exported, a sign that more gold is moving through Uganda’s formal export channels.
The coffee sector, another major export earner for Uganda, has also seen a significant increase in export value and volumes.
Despite the controversy surrounding the Coffee Bill, which was later assented into a law during the year, the country earned a total of $2.4 billion (Shs8.7 trillion) from coffee exports in the period under review. This represented a remarkable 40 percent increase from the previous year’s $1.5 billion (Shs5.3 trillion) earnings.
In an interview with Business Daily, Dr Adam Mugume, BoU’s director of research, said Uganda’s economy has demonstrated resilience in the face of global uncertainty and volatility, driven by prudent monetary policy that balances economic growth, inflation, exchange rate stability, and financial system stability.
‘The robust performance of the economy has been supported by strong export proceeds from key sectors such as coffee, gold, cocoa, sugar, fruits, and vegetables, as well as significant inflows from foreign direct investment in the oil sector, workers’ remittances, and tourism receipts.’
The BoU report further highlights that Uganda’s major export destinations include the United Arab Emirates (UAE) which consumes most of the gold exports, Italy which is takes nearly 70 percent of the country’s coffee exports, Kenya, DRC, and South Sudan which consume Uganda’s agricultural commodities such as maize and beans and manufactured products such as sugar, processed milk and steel products.
These countries have been key markets for Uganda’s exports, and the growth in trade with these nations has contributed significantly to the country’s economic performance.
Industrial experts say the growth in exports is a welcome development for Uganda’s economy, which has been diversifying in recent years.
‘The country’s strategic location in the East African region makes it an attractive hub for trade and commerce. With the right policies and investments, Uganda is well-positioned to capitalize on emerging opportunities in the global market,’ Mr John Bosco Lwere, an exports promotions executive at Uganda Free Zones and Export Promotions Authority, shared.
The BoU report underscores the importance of the gold and coffee sectors in driving Uganda’s economic growth.
‘As the country navigates the complexities of the global economy, it is essential that policymakers and stakeholders work together to support these key sectors. By doing so, Uganda can build on its recent successes and achieve sustainable economic development,’ experts said.
Challenges
Despite challenges such as the Coffee Bill saga, the country’s exporters have demonstrated their ability to navigate complex markets and capitalise on emerging opportunities.
As Uganda looks to the future, experts highlight the need for continued investment in key sectors such as infrastructure, agriculture, and industry. By addressing these challenges, Uganda can unlock its full potential and achieve sustainable economic growth and development.
Uganda’s export boom is a story of growth and opportunity. With the right policies and investments, the country can build on its recent successes and achieve sustainable economic development.
With the right approach, the future looks bright for Uganda, and the country can achieve even greater heights in the years to come. By leveraging its strategic location, diversifying its economy, and supporting key sectors, Uganda can become a major player in the regional and global economy.