Uganda earned $1.346 billion (about Shs4.97 trillion) from merchandise exports in May, reflecting a 12.8 per cent increase compared with the $1.193 billion (about Shs4.40 trillion) recorded in the same period last year.
The growth was supported by increased earnings from gold, tobacco, oil re-exports and electricity exports, according to the June 2026 Performance of the Economy Report released by the Ministry of Finance.
Despite the annual growth, export earnings dropped by 4.2 per cent compared with April, when Uganda earned $1.405 billion (about Shs5.18 trillion). The decline was mainly linked to reduced earnings from gold and coffee, the country’s leading export commodities.
Finance Minister Henry Musasizi attributed the performance to government efforts focused on industrialisation, value addition, export promotion and expanding access to international markets.
Musasizi said Uganda’s exports of goods and services have grown by about 204 per cent over the past five years. Total export earnings increased from $5.93 billion in the 12 months to March 2022 to $18.04 billion in the year ending March 2026.
Gold remained Uganda’s top export earner in May, generating $814.78 million. Coffee followed with $151.70 million, while informal cross-border exports contributed $69.7 million.
Other exports included fish worth $10.59 million, tobacco at $8.15 million, maize at $7.40 million, flowers at $6.02 million, tea at $4.40 million, cotton at $3.71 million and beans at $2.74 million.
Uganda’s main export markets during the period were the Middle East, the East African Community, Asia and the European Union.
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