Uganda: economy

What is Uganda's GDP growth rate?

Uganda's economy grew 6.8% in the quarter ending June 2026, as reported by UBOS, and the Bank of Uganda projects 6.4% for the quarter ending September 2026, according to its Monetary Policy Statement of 14 October 2026. Growth for the 2025/26 financial year is estimated at 6.4%.

The bank's October forecast puts growth at 6.0% to 6.5% in 2026/27, down from 7.0% to 7.5%, because of tighter financial conditions, the shilling's fall and higher energy prices. The Budget Speech of 11 June 2026 had projected 10.2% for 2026/27 with the start of oil production, so check which forecast a figure comes from. Uganda's financial year runs from July to June.

Official sources: Bank of Uganda: Monetary Policy Statement, October 2026 · Ministry of Finance: Budget Speech FY2026/27

What is the inflation rate in Uganda?

Uganda's annual headline inflation rate was 4.6% in September 2026, up from 4.1% in August, according to the Bank of Uganda's Monetary Policy Statement of 14 October 2026. Core inflation, which leaves out food crops, fuel and utilities, was 3.7%.

The bank says higher food crop prices and higher fuel prices, as the weaker shilling fed through, drove the rise. It now projects headline inflation of 7.0% to 7.5% and core inflation of 5.5% to 6.0% over the next 12 months. Its medium-term target is 5% for core inflation. The Uganda Bureau of Statistics compiles the underlying figures, but its website could not be reached on 15 October 2026. The Ministry of Finance's Performance of the Economy report breaks down the August figures.

Official sources: Bank of Uganda: Monetary Policy Statement, October 2026 · Ministry of Finance: Performance of the Economy, August 2026

What is the Bank of Uganda's interest rate?

The Bank of Uganda's Central Bank Rate (CBR) is 12.0%, after its Monetary Policy Committee raised it by 2.25 percentage points from 9.75% at a special meeting on 14 October 2026, according to its Monetary Policy Statement.

The CBR is the rate the bank aims to keep short-term interbank lending close to, within a band of plus or minus 2 percentage points. The rediscount rate is 15.0% and the bank rate 16.0%. The bank also raised the cash reserve requirement for commercial banks from 11% to 13.5% from 24 September 2026. It said the increases aim to contain inflation after the shilling weakened and oil prices rose. Commercial lending rates are higher: the weighted average shilling lending rate was 17.32% in July 2026, according to the Ministry of Finance.

Official sources: Bank of Uganda: Monetary Policy Statement, October 2026 · Ministry of Finance: Performance of the Economy, August 2026

What is the Uganda shilling exchange rate to the dollar?

The Uganda shilling averaged Shs 3,730.25 per US dollar in August 2026, a fall of 0.7% from Shs 3,704.51 in July, according to the Ministry of Finance's Performance of the Economy report for August 2026, using Bank of Uganda data.

A higher number means a weaker shilling. The ministry says demand for dollars from the energy and manufacturing sectors outweighed inflows from commodity exports, NGOs and remittances. In its October 2026 statement, the Bank of Uganda says the shilling has since come under further depreciation pressure as global risk aversion limited capital inflows. The Bank of Uganda publishes daily rates on its website.

Official sources: Ministry of Finance: Performance of the Economy, August 2026 · Bank of Uganda: Monetary Policy Statement, October 2026

What are Uganda's main exports?

Uganda's merchandise exports were worth US$1,402.56 million in July 2026, up 10.1% from US$1,274.28 million a year earlier, according to the Ministry of Finance's Performance of the Economy report for August 2026. Gold exports alone earned US$788.45 million in the month.

The ministry says the rise came mainly from gold, maize, flowers, oil re-exports, beer, cocoa beans, cement and electricity. Over the 12 months to June 2026, export revenues rose 46.4% to US$15,753.5 million, according to the Bank of Uganda's Monetary Policy Report of August 2026. Gold earnings move with world gold prices as well as volumes, so monthly totals can swing.

Official sources: Ministry of Finance: Performance of the Economy, August 2026 · Bank of Uganda: Monetary Policy Report, August 2026

What is Uganda's GDP per capita?

Uganda's GDP per person was projected at US$1,420, about Shs 5.1 million, by the end of June 2026, according to the Budget Speech for 2026/27 delivered on 11 June 2026. The speech put the size of the economy at about US$69.3 billion, or Shs 250.4 trillion.

The speech also says gross national income per person reached US$1,389, above the World Bank's lower-middle-income threshold of US$1,136 that it cites. The IMF's World Economic Outlook figures give US$1,384 per person for 2025. Figures in dollars move with the exchange rate as well as with output.

Official sources: Ministry of Finance: Budget Speech FY2026/27 · IMF DataMapper: GDP per capita, Uganda

Is Uganda's economy growing?

6.3%: that is real GDP growth in Uganda for 2025, according to the World Bank. Since 2005 it has ranged from 3.0% (2020) to 10.8% (2006). Sub-Saharan Africa median: 4.6%; Uganda is 9th highest of 46. Of 180 countries with 2025 data, 25th highest.

How rich is Uganda per person?

The World Bank puts GDP per person in Uganda at $1,206 in 2025. It is the top of the series, which starts in 2005. Sub-Saharan Africa median: $1,351; Uganda is 27th highest of 46. Of 180 countries with 2025 data, 161st highest.

What is Uganda's GDP per person adjusted for prices?

The World Bank puts GDP per person at purchasing power parity in Uganda at $3,488 in international dollars in 2025. No year since 2005 has been higher. Across Sub-Saharan Africa the middle value was $4,425 in international dollars, and Uganda placed 32nd highest of 46. Of 179 countries with 2025 data, 163rd highest.

What share of Uganda's economy is exports?

The World Bank puts exports of goods and services in Uganda at 21.4% of GDP in 2025. Its high point since 2005 was 2008, at 24.3% of GDP; its low point was 2023, at 11.6% of GDP. Across Sub-Saharan Africa the middle value was 26.1% of GDP, and Uganda placed 23rd highest of 38. Worldwide: 103rd of 133.

Does Uganda earn more abroad than it spends?

The latest figure from the IMF, for 2025, is -5.2% of GDP, which is a deficit. Its high point since 2005 was 2005, at 0.6% of GDP; its low point was 2020, at -9.6% of GDP. Across Sub-Saharan Africa the middle value was -3.6% of GDP, and Uganda placed 12th highest of 20. World rank, highest first: 103rd of 132.

How much foreign investment does Uganda receive?

In 2025, net inflows of foreign direct investment in Uganda was 5.4% of GDP, according to the IMF. Its high point since 2005 was 2007, at 6.7% of GDP; its low point was 2010, at 2.0% of GDP. Sub-Saharan Africa median: 2.0% of GDP; Uganda is 11th highest of 46. World rank, highest first: 34th of 179.

What are bank lending rates in Uganda?

According to the IMF, the average bank lending rate in Uganda was 19.8% in 2018. Since 2005 it has ranged from 18.7% (2006) to 26.2% (2012). It is 8th highest of 29 in Sub-Saharan Africa, where the median is 13.1%. Worldwide: 12th of 117.