Uganda’s export earnings rise 36 percent as gold shipments gain
Gold exports brought in $889 million in August, while the country expects oil production to begin in early 2027.
Uganda earned $1.5 billion from goods exports in August, a 36 percent increase from a year earlier, according to the Finance Ministry. Higher revenue from gold and other commodities drove the rise from $1.1 billion.
The ministry put August gold export earnings at $889 million. Uganda has become a regional center for gold processing and trading in recent years.
Oil exports are also expected to contribute to foreign exchange earnings. The ministry said commercial production and exports would strengthen those earnings further, with operations expected to begin in early 2027.
The oil fields are in western Uganda, close to the border with the Democratic Republic of Congo.
