Uganda’s export sector delivered one of its strongest performances in recent history, with total export earnings reaching approximately US$12.7 billion in the year to November 2025, according to data released this week by the Bank of Uganda. The figure represents a year-on-year increase of more than 30 percent, underscoring the country’s growing relevance in regional and global commodity trade.
Gold exports were the primary driver, generating an estimated US$5.8 billion, up nearly 44 percent from the previous year. Uganda’s export growth has been supported not only by domestic production but also by its expanding role as a regional gold processing and trading hub, importing raw gold from neighbouring countries for refining and re-export.
Coffee remained Uganda’s second-largest export earner, contributing close to US$2.4 billion. Strong global prices, rising demand from Europe and Asia, and improvements in quality control helped offset logistical constraints and climate-related production risks. Exporters also reported steady gains in sugar, maize, fish, flowers, and fresh produce.
The export surge has strengthened Uganda’s foreign-exchange position and helped stabilise the shilling amid global volatility. However, analysts caution that the heavy concentration in gold exposes the country to commodity price swings and regulatory scrutiny. Policymakers are therefore being urged to accelerate diversification into value-added agro-processing and light manufacturing to sustain export growth over the long term.