Economy of Uganda

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, maize, 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