Uganda Economy - 2004

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. Corruption within the government and slippage in the government's determination to press reforms raise doubts about the continuation of strong growth. 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. Solid growth in 2003 reflected an upturn in Uganda's export markets.

GDP:
purchasing power parity - $36.1 billion (2003 est.)

GDP - real growth rate:
4.4% (2003 est.)

GDP - per capita:
purchasing power parity - $1,400 (2003 est.)

GDP - composition by sector:
agriculture: 43%
industry: 19%
services: 38% (2001 est.)

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

Household income or consumption by percentage share:
lowest 10%: 4%
highest 10%: 21% (2000)

Distribution of family income - Gini index:
37.4 (1996)

Inflation rate (consumer prices):
0.1% (2002 est.)

Labor force:
12 million (2001 est.)

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

Unemployment rate:
NA% (2002 est.)

Budget:
revenues: $959 million
expenditures: $1.04 billion, including capital expenditures of $NA (FY98/99 est.)

Industries:
sugar, brewing, tobacco, cotton textiles, cement

Industrial production growth rate:
6.3% (2002 est.)

Electricity - production:
1.928 billion kWh (2001)

Electricity - production by source:
fossil fuel: 0.9%
hydro: 99.1%
other: 0% (2001)
nuclear: 0%

Electricity - consumption:
1.62 billion kWh (2001)

Electricity - exports:
174 million kWh (2001)

Electricity - imports:
1 million kWh (2001)

Oil - production:
0 bbl/day (2001 est.)

Oil - consumption:
8,750 bbl/day (2001 est.)

Oil - exports:
NA

Oil - imports:
NA

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

Exports:
$495 million f.o.b. (2003 est.)

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

Exports - partners:
Belgium 16.8%, Netherlands 14.3%, Germany 7.9%, Spain 5.8%, US 4.9%, Italy 4.3%, Portugal 4.3%, UK 4.3%, Japan 4% (2002)

Imports:
$1.179 billion f.o.b. (2003 est.)

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

Imports - partners:
Kenya 46.4%, South Africa 6.9%, India 5.7%, UK 5.6% (2002)

Debt - external:
$2.8 billion (2002 est.)

Economic aid - recipient:
$1.4 billion (2000)

Currency:
Ugandan shilling (UGX)

Currency code:
UGX

Exchange rates:
Ugandan shillings per US dollar - 1,963.72 (2003), 1,797.55 (2002), 1,755.66 (2001), 1,644.48 (2000), 1,454.83 (1999)