The gradual recovery after Covid-19 will continue

C3

SENSITIVE RISK for enterprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

Last updated in August 2022.    

Swipe to view more

GDP USD40bn (World Ranking 93, World Bank 2021)
Population

47.1mn (World ranking 31, World Bank 2021)

Form of state Presidential Republic
Head of government Yoweri Kaguta MUSEVENI
Next elections 2026, general elections
  • The political system is relatively stable, compared to a chequered history, and transition to a multi-party democracy is being instituted
  • Good record of GDP growth in recent years, albeit from a low base
  • Reasonable relations with the IFIs and donor community, despite periodic concerns relating to achievement of some economic targets and perceptions of corruption
  • Government has strong record of MDGs implementation
  • Oil and gas potential
  • Trade and communication links are vital because the country is landlocked. Disruption to these can have detrimental effects on business and the overall economy
  • There are perceptions that President Museveni is becoming increasingly autocratic
  • Instability in South Sudan and eastern Congo can spill over to Uganda
  • Dependence on the primary sector exposes economic development to the vagaries of climatic changes, including periodic drought, and to internationally-determined commodity prices
  • Fiscal and current account deficits are translating into (reasonably) increasing debt

Trade structure by destination/origin

(% of total, 2021)

Exports Rank Imports
United Arab Emirates 27.7%
1
18.6% China
Kenya 13.5%
2
11.9% India
South Sudan 12.6%
3
9.1% United Arab Emirates
Italy 4.7%
4
9.0% United Republic of Tanzania
Germany 3.4%
5
8.7% Kenya

Trade structure by product

(% of total, 2021)

Exports Rank Imports
Gold, non-monetary (excluding gold ores and concentrates) 27.6%
1
12.9% Petroleum, petroleum products and related materials
Coffee, tea, cocoa, spices, and manufactures thereof 19.2%
2
12.2% Gold, non-monetary (excluding gold ores and concentrates)
Cereals and cereal preparations 7.2%
3
7.1% Road vehicles
Fish, crustaceans, molluscs and preparations thereof 3.5%
4
5.1% Medicinal and pharmaceutical products
Sugar, sugar preparations and honey 3.4%
5
4.5% Fixed vegetable oils and fats, crude, refined or fractionated
Popular Risk Reports: Americas

Popular Risk Reports: Europe

Popular Risk Reports: Asia Pacific

Popular Risk Reports: Middle East

Popular Risk Reports: Africa