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Uganda Economy 2010
http://www.workmall.com/wfb2010/uganda/uganda_economy.html
SOURCE: 2010 CIA WORLD FACTBOOK AND OTHER SOURCES

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Page last updated on January 19, 2010

Economy - overview:
Uganda has substantial natural resources, including fertile soils, regular rainfall, small deposits of copper, gold, and other minerals, and recently discovered oil. Uganda has never conducted a national minerals survey. 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. Since 1990 economic reforms ushered in an era of solid economic growth based on continued investment in infrastructure, improved incentives for production and exports, lower inflation, better 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. 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. The global economic downturn has hurt Uganda's exports; however, Uganda's GDP growth is still relatively strong due to past reforms and sound management of the downturn.

GDP (purchasing power parity):
$42.18 billion (2009 est.)

$40.56 billion (2008 est.)
$37.45 billion (2007 est.)
note: data are in 2009 US dollars

GDP (official exchange rate):
$15.66 billion (2009 est.)

GDP - real growth rate:
4% (2009 est.)

8.3% (2008 est.)
8.2% (2007 est.)

GDP - per capita (PPP):
$1,300 (2009 est.)

$1,300 (2008 est.)
$1,200 (2007 est.)
note: data are in 2009 US dollars

GDP - composition by sector:
agriculture: 22.2%
industry: 25.1%
services: 52.8% (2009 est.)

Labor force:
15.01 million (2009 est.)

Labor force - by occupation:
agriculture: 82%
industry: 5%
services: 13% (1999 est.)

Unemployment rate:
NA% est.)

Population below poverty line:
35% (2001 est.)

Household income or consumption by percentage share:
lowest 10%: 2.6%
highest 10%: 34.1% (2005)

Distribution of family income - Gini index:
45.7 (2002)

37.4 (1996)

Investment (gross fixed):
19.7% of GDP (2009 est.)

Budget:
revenues: $2.007 billion
expenditures: $2.508 billion; including capital expenditures of $NA (2009 est.)

Public debt:
19.3% of GDP (2009 est.)

18.8% of GDP (2008 est.)

Inflation rate (consumer prices):
12.6% (2009 est.)

12.1% (2008 est.)

Central bank discount rate:
19.42% (31 December 2008)

14.68% (31 December 2007)

Commercial bank prime lending rate:
20.45% (31 December 2008)

19.11% (31 December 2007)

Stock of money:
$1.488 billion (31 December 2008)

$1.347 billion (31 December 2007)

Stock of quasi money:
$1.485 billion (31 December 2008)

$1.258 billion (31 December 2007)

Stock of domestic credit:
$1.464 billion (31 December 2008)

$640.3 million (31 December 2007)

Market value of publicly traded shares:
$NA (31 December 2008)

$NA (31 December 2007)
$116.3 million (31 December 2006)

Agriculture - products:
coffee, tea, cotton, tobacco, cassava (tapioca), potatoes, corn, millet, pulses, cut flowers; beef, goat meat, milk, poultry

Industries:
sugar, brewing, tobacco, cotton textiles; cement, steel production

Industrial production growth rate:
5.3% (2009 est.)

Electricity - production:
2.256 billion kWh (2007 est.)

Electricity - consumption:
2.068 billion kWh (2007 est.)

Electricity - exports:
30 million kWh (2007)

Electricity - imports:
0 kWh (2008 est.)

Oil - production:
NA bbl/day bbl/day NA

Oil - consumption:
13,000 bbl/day (2008 est.)

Oil - exports:
0 bbl/day (2007 est.)

Oil - imports:
13,090 bbl/day (2007 est.)

Oil - proved reserves:
0 bbl (1 January 2009 est.)

Natural gas - production:
0 cu m (2008 est.)

Natural gas - consumption:
0 cu m (2008 est.)

Natural gas - exports:
0 cu m (2008 est.)

Natural gas - imports:
0 cu m (2008 est.)

Natural gas - proved reserves:
0 cu m (1 January 2009 est.)

Current account balance:
$-829 million (2009 est.)

$-1.088 billion (2008 est.)

Exports:
$3.151 billion (2009 est.)

$2.688 billion (2008 est.)

Exports - commodities:
coffee, fish and fish products, tea, cotton, flowers, horticultural products; gold

Exports - partners:
Sudan 14.3%, Kenya 9.5%, Switzerland 9%, Rwanda 7.9%, UAE 7.4%, Democratic Republic of the Congo 7.3%, UK 6.9%, Netherlands 4.7%, Germany 4.4% (2008)

Imports:
$4.106 billion (2009 est.)

$3.98 billion (2008 est.)

Imports - commodities:
capital equipment, vehicles, petroleum, medical supplies; cereals

Imports - partners:
UAE 11.4%, Kenya 11.3%, India 10.4%, China 8.1%, South Africa 6.7%, Japan 5.9% (2008)

Reserves of foreign exchange and gold:
$2.296 billion (31 December 2009 est.)

$2.301 billion (31 December 2008 est.)

Debt - external:
$2.05 billion (31 December 2009 est.)

$1.835 billion (31 December 2008 est.)

Stock of direct foreign investment - at home:
$NA

Stock of direct foreign investment - abroad:
$NA

Exchange rates:
Ugandan shillings (UGX) per US dollar - 2,073.3 (2009), 1,658.1 (2008), 1,685.8 (2007), 1,834.9 (2006), 1,780.7 (2005)


NOTE: The information regarding Uganda on this page is re-published from the 2010 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Uganda Economy 2010 information contained here. All suggestions for corrections of any errors about Uganda Economy 2010 should be addressed to the CIA.



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