Uganda’s export earnings increased by 10.2% year on year in July, reaching $1.40 billion as higher shipments of gold, cocoa, flowers and maize boosted the country’s foreign exchange receipts.
The figure was up from $1.27 billion recorded in July 2025, according to a report from Uganda’s Finance Ministry reviewed by Reuters.
Gold remained the dominant contributor to the increase, with the value of gold shipments rising 35% to $788.45 million during the month.
The ministry attributed the increase in gold earnings to higher export volumes as well as stronger international gold prices. It said demand for the precious metal had increased as investors sought safe-haven assets amid heightened global geopolitical tensions.
The rise in export receipts could also provide support for Uganda’s shilling, which had been weakening against the US dollar in recent days.
Gold and coffee remain among Uganda’s most important sources of foreign exchange, while the country has also developed into a regional gold-processing hub.
The stronger July performance highlights the importance of commodity exports to Uganda’s external earnings, while rising demand for agricultural products such as cocoa, flowers and maize is also contributing to the country’s export growth.
For Uganda, stronger export receipts provide additional foreign currency inflows and reinforce the importance of expanding and diversifying the country’s participation in regional and international commodity markets.