Uganda's economy in numbers:
Nominal GDP of USD 51.9 billion in 2023.
Nominal GDP of USD 47.6 billion in 2022.
GDP per capita of USD 1,089 compared to the global average of USD 10,589.
GDP per capita of USD 1,140 compared to the global average of USD 10,589.
Average real GDP growth of 4.5% over the last decade.
Average real GDP growth of 4.4% over the last decade.
Economic structure:
In 2021, services accounted for 49% of overall GDP, manufacturing 16%, other industrial activity 11%, and agriculture 24%. Looking at GDP by expenditure, private consumption accounted for 73% of GDP in 2021, government consumption 10%, fixed investment 24%, and net exports -7%.International trade:
In 2020, manufactured products made up 13% of total merchandise exports, mineral fuels 2%, food 38%, ores and metals 0% and agricultural raw materials 2%, with other categories accounting for 45% of the total. In the same period, manufactured products made up 51% of total merchandise imports, mineral fuels 12%, food 12%, ores and metals 2% and agricultural raw materials 1%, with other goods accounting for 22% of the total. Total exports were worth USD 4 billion in 2022, while total imports were USD 8 billion.Economic growth:
The economy recorded average annual growth of 4.4% in the decade to 2022. To read more about GDP growth in Uganda, go to our dedicated page.
Fiscal policy:
Uganda's fiscal deficit averaged 4.1% of GDP in the decade to 2022. Find out more on our dedicated page.
Unemployment:
The unemployment rate averaged 3.4% in the decade to 2022. For more information on Uganda's unemployment click here.
Inflation:
Inflation averaged 4.9% in the decade to 2022. Go to our Uganda inflation page for extra insight.
Monetary Policy:
Uganda's monetary policy rate ended 2022 at 10.00%, down from 12.00% a decade earlier. See our Uganda monetary policy page for additional details.
Exchange Rate:
From end-2012 to end-2022 the shilling weakened by 27.6% vs the U.S. dollar. For more info on the shilling, click here.
44 indicators covered including both annual and quarterly frequencies.
Consensus Forecasts based on a panel of 13 expert analysts.
Want to get insight on the economic outlook for Uganda in the coming years? FocusEconomics collects projections out to 2034 on 44 economic indicators for Uganda from a panel of 13 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Uganda economy. To download a sample report on the Uganda's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.