Uganda Economy 2001

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 1990-2000, 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, corruption within the government, and slippage in the government's determination to press reforms raise doubts about the continuation of strong growth. In 2000, Uganda qualified for enhanced HIPC debt relief worth $1.3 billion and Paris Club debt relief worth $145 million. These amounts combined with the original Highly Indebted Poor Countries HIPC debt relief add up to about $2 billion. Growth for 2001 should be somewhat lower than in 2000, because of a decline in the price of coffee, Uganda's principal export.

GDP: purchasing power parity - $26.2 billion (2000 est.)

GDP - real growth rate: 6% (2000 est.)

GDP - per capita: purchasing power parity - $1,100 (2000 est.)

GDP - composition by sector:
agriculture: 43%
industry: 17%
services: 40% (1998 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): 6.5% (2000)

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: 7% (1999)

Electricity - production: 1.326 billion kWh (1999)

Electricity - production by source:
fossil fuel: 0.98%
hydro: 99.02%
nuclear: 0%
other: 0% (1999)

Electricity - consumption: 1.06 billion kWh (1999)

Electricity - exports: 174 million kWh (1999)

Electricity - imports: 1 million kWh (1999)

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

Exports: $500.1 million (f.o.b., 1999)

Exports - commodities: coffee, fish and fish products, tea; electrical products, iron and steel

Exports - partners: Spain, Germany, Belgium, Netherlands, Hungary, Kenya (1999)

Imports: $1.1 billion (f.o.b., 1999)

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

Imports - partners: Kenya 27.5%, US 21.2%, France 19.3, UK 5%, India 4% (1999)

Debt - external: $3.6 billion (2000 est.)

Economic aid - recipient: $1.4 billion (2000)

Currency: Ugandan shilling (UGX)

Currency code: UGX

Exchange rates: Ugandan shillings per US dollar - 1,700 (February 2001), 1,830.4 (January 2001), 1,644.5 (2000), 1,454.8 (1999), 1,240.2 (1998), 1,083.0 (1997), 1,046.1 (1996)

Fiscal year: 1 July - 30 June

NOTE: The information regarding Uganda on this page is re-published from the 2001 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Uganda Economy 2001 information contained here. All suggestions for corrections of any errors about Uganda Economy 2001 should be addressed to the CIA.