Middle East becomes largest market for Uganda’s exports

The growth in gold exports has seen Uganda’s foreign exchange from the Middle East rise. FILE PHOTO 

By Dorothy Nakaweesi

Kampala- Middle East has toppled Comesa as Uganda’s number one destination for the country’s
exports for the month ended March, according to a Bank of Uganda report.

The report released last week, indicates that in March, Uganda’s export revenue from Middle East grew to Shs990b up from Shs290b in February.

This represented a 70 per cent increase from what the country earned in the region in February.
Most export receipts from Middle East came from United Arab Emirates taking a share of $259m (Shs976b).

According to experts, Uganda’s increase in gold and food exports to the Middle East could explain the increase in receipts. .
Mr Elly Twineyo, the Uganda Export Promotion Board executive director, said the trend will persist because of gold exports to the region and the blockade placed on some products from entering the European Union due to failing standards.

“The ministry of agriculture is cleaning up and some people are not allowed to export. We are being careful so that we don’t experience a scenario that occurred in 2016 when horticultural exports were banned,” Twineyo said.

Uganda, in the period under review, exported goods worth Shs388b up from Shs371b to Comesa and East Africa, indicating a 4 per cent increase.