Gold, cocoa, flowers and other commodities contributed to the growth in export revenues

Uganda’s export earnings increased by 10.2 per cent year-on-year in July, reaching US$1.40 billion compared with US$1.27 billion in the same month last year. The rise was supported by higher revenues from several key commodities, including gold, cocoa, flowers and maize. This was reported by MENA, a partner of TV BRICS.

According to a report by Uganda’s Ministry of Finance, Planning and Economic Development, the increase reflected stronger export receipts across a number of commodity groups. The figures highlight the continued contribution of agricultural and mineral products to Uganda’s external trade.

Gold recorded the largest increase among the commodities mentioned in the report. Its export value rose by 35 per cent to US$788.45 million in July, supported by higher shipment volumes and elevated international gold prices.

The ministry attributed the rise in gold export earnings to increased demand for the precious metal, which has maintained its role in international markets. Uganda has also developed into a regional hub for gold processing, strengthening the sector’s contribution to the country’s export performance.

Alongside gold, higher export revenues were recorded for cocoa, flowers and maize. These commodities contribute to the country’s participation in regional and international markets.

Gold and coffee remain among Uganda’s main sources of foreign exchange. The latest export figures demonstrate the contribution of key commodity sectors to the East African country’s trade and economic activity.

African Times published this article in partnership with International Media Network TV BRICS