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Uganda:
Economy

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Uganda Page


Economy - overview
Definition
Uganda has substantial natural resources, including fertile soils, regular rainfall, and sizable mineral deposits of copper, cobalt, gold, and other minerals. 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 1990-2001, 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. Growth continues to be solid, despite variability in the price of coffee, Uganda's principal export, and a consistent upturn in Uganda's export markets. In 2000, Uganda qualified for enhanced Highly Indebted Poor Countries (HIPC) debt relief worth $1.3 billion and Paris Club debt relief worth $145 million. These amounts combined with the original HIPC debt relief added up to about $2 billion.
GDP (purchasing power parity)
Definition - World rank and map
$29.04 billion (2007 est.)
GDP (official exchange rate)
Definition
$11.23 billion (2007 est.)
GDP - real growth rate
Definition - World rank and map
6.5% (2007 est.)
GDP - per capita
Definition - World rank and map
$900 (2007 est.)
GDP - composition by sector
Definition
agriculture: 30.2%
industry: 24.7%
services: 45.1% (2007 est.)
Labor force
Definition
14.02 million (2007 est.)
Labor force - by occupation
Definition
agriculture: 82%
industry: 5%
services: 13% (1999 est.)
Unemployment rate
Definition - World rank and map
NA%
Population below poverty line
Definition
35% (2001 est.)
Household income or consumption by percentage share
Definition
lowest 10%: 2.3%
highest 10%: 37.7% (2002)
Distribution of family income - Gini index
Definition - World rank and map
45.7 (2002)
Inflation rate (consumer prices)
Definition - World rank and map
6.8% (2007 est.)
Investment (gross fixed)
Definition - World rank and map
25.4% of GDP (2007 est.)
Budget
Definition
revenues: $2.248 billion
expenditures: $2.506 billion; including capital expenditures of $NA (2007 est.)
Public debt
Definition - World rank and map
20.6% of GDP (2007 est.)
Agriculture - products
Definition
coffee, tea, cotton, tobacco, cassava (tapioca), potatoes, corn, millet, pulses, cut flowers; beef, goat meat, milk, poultry
Industries
Definition
sugar, brewing, tobacco, cotton textiles; cement, steel production
Industrial production growth rate
Definition - World rank and map
5.8% (2007 est.)
Electricity - production
Definition - World rank and map
1.983 billion kWh (2005)
Electricity - consumption
Definition - World rank and map
1.674 billion kWh (2005)
Electricity - consumption per capita
Definition - World rank and map
53.4 kWh (2005)
Electricity - exports
Definition
170 million kWh (2005)
Electricity - imports
Definition
0 kWh (2005)
Oil - production
Definition - World rank and map
0 bbl/day (2005 est.)
Oil - consumption
Definition - World rank and map
11,000 bbl/day (2005 est.)
Oil - consumption per 1,000 people
Definition - World rank and map
0.4 bbl/day (2005 est.)
Oil - exports
Definition - World rank and map
0 bbl/day (2004)
Oil - imports
Definition - World rank and map
10,870 bbl/day (2004)
Oil - proved reserves
Definition - World rank and map
0 bbl (1 January 2006 est.)
Natural gas - production
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption per capita
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - exports
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - imports
Definition - World rank and map
0 cu m (2005)
Natural gas - proved reserves
Definition - World rank and map
0 cu m (1 January 2006 est.)
Current account balance
Definition - World rank and map
-$224 million (2007 est.)
Exports
Definition - World rank and map
$1.626 billion f.o.b. (2007 est.)
Exports - commodities
Definition
coffee, fish and fish products, tea, cotton, flowers, horticultural products; gold
Exports - partners
Definition
Netherlands 10.1%, Belgium 9.7%, Germany 7.9%, France 7.2%, Rwanda 5.6% (2006)
Imports
Definition - World rank and map
$2.803 billion f.o.b. (2007 est.)
Imports - commodities
Definition
capital equipment, vehicles, petroleum, medical supplies; cereals
Imports - partners
Definition
Kenya 31.7%, China 8.6%, UAE 7.7%, India 5.2%, South Africa 5%, Japan 4.8% (2006)
Reserves of foreign exchange and gold
Definition - World rank and map
$2.1 billion (31 December 2007 est.)
Debt - external
Definition - World rank and map
$1.498 billion (31 December 2007 est.)
Stock of direct foreign investment - at home
Definition
$NA
Stock of direct foreign investment - abroad
Definition
$NA
Market value of publicly traded shares
Definition
$103.4 million (2005)
Economic aid - recipient
Definition
$1.198 billion (2005)
Currency (code)
Definition
Ugandan shilling (UGX)
Exchange rates
Definition
Ugandan shillings per US dollar - 1,685.8 (2007), 1,834.9 (2006), 1,780.7 (2005), 1,810.3 (2004), 1,963.7 (2003)
Fiscal year
Definition
1 July - 30 June


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