Uganda Economy 2007

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 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. During 1990-2001, 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. In 2000, Uganda qualified for enhanced Highly Indebted Poor Countries (HIPC) debt relief worth $1.3 billion and Paris Club debt relief worth $145 million. These amounts combined with the original HIPC debt relief added up to about $2 billion. Growth for 2001-02 was solid, despite continued decline in the price of coffee, Uganda's principal export. Growth in 2003-06 reflected an upturn in Uganda's export markets.

GDP (purchasing power parity):
$52.93 billion (2006 est.)

GDP (official exchange rate):
$8.526 billion (2006 est.)

GDP - real growth rate:
5.3% (2006 est.)

GDP - per capita (PPP):
$1,900 (2006 est.)

GDP - composition by sector:
agriculture: 31.4%
industry: 24.6%
services: 44% (2006 est.)

Labor force:
13.58 million (2006 est.)

Labor force - by occupation:
agriculture: 82%
industry: 5%
services: 13% (1999 est.)

Unemployment rate:
NA%

Population below poverty line:
35% (2001 est.)

Household income or consumption by percentage share:
lowest 10%: 2.3%
highest 10%: 37.7% (2002)

Distribution of family income - Gini index:
45.7 (2002)

Inflation rate (consumer prices):
6.6% (2006 est.)

Investment (gross fixed):
23.4% of GDP (2006 est.)

Budget:
revenues: $1.758 billion
expenditures: $1.984 billion; including capital expenditures of $NA (2006 est.)

Public debt:
19.4% of GDP (2006 est.)

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

Industries:
sugar, brewing, tobacco, cotton textiles; cement, steel production

Industrial production growth rate:
5.2% (2006 est.)

Electricity - production:
1.983 billion kWh (2005)

Electricity - consumption:
1.674 billion kWh (2005)

Electricity - exports:
170 million kWh (2005)

Electricity - imports:
0 kWh (2005)

Oil - production:
0 bbl/day (2004 est.)

Oil - consumption:
10,890 bbl/day (2004 est.)

Oil - exports:
NA bbl/day

Oil - imports:
NA bbl/day

Oil - proved reserves:
0 bbl (1 January 2006)

Natural gas - production:
0 cu m (2005 est.)

Natural gas - consumption:
0 cu m (2005 est.)

Current account balance:
$-130.6 million (2006 est.)

Exports:
$1.004 billion f.o.b. (2006 est.)

Exports - commodities:
coffee, fish and fish products, tea, cotton, flowers, horticultural products; gold

Exports - partners:
Belgium 9.9%, Netherlands 9.4%, France 7.9%, Germany 7.7%, Rwanda 5.6%, Sudan 4.8% (2006)

Imports:
$2.249 billion f.o.b. (2006 est.)

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

Imports - partners:
Kenya 34.1%, UAE 8.5%, China 7.1%, India 5.6%, South Africa 5.4%, Japan 4.2% (2006)

Economic aid - recipient:
$1.198 billion (2005)

Reserves of foreign exchange and gold:
$1.811 billion (2006 est.)

Debt - external:
$1.136 billion (2006 est.)

Stock of direct foreign investment - at home:
$NA

Stock of direct foreign investment - abroad:
$NA

Market value of publicly traded shares:
$103.4 million (2005)

Currency (code):
Ugandan shilling (UGX)

Exchange rates:
Ugandan shillings per US dollar - 1,834.9 (2006), 1,780.7 (2005), 1,810.3 (2004), 1,963.7 (2003), 1,797.6 (2002)