Kampala, Uganda – The United Arab Emirates has solidified its position as Uganda’s largest export market, surpassing traditional trading partner Kenya, according to data from the Bank of Uganda.
The UAE accounted for 25.66% of Uganda’s total export earnings, valued at $2.03 billion, primarily driven by gold exports. India ranked second with $951.8 million in exports, while Kenya dropped to third with $626.7 million.
This shift marks a significant change in Uganda’s export dynamics, as Kenya and Tanzania have historically been the country’s main trading partners.
“Uganda’s exports to Kenya have decreased by 8.53% annually over the past five years, from $488 million in 2017 to $312 million in 2022,” according to the Observatory of Economic Complexity.
Conversely, Uganda’s exports to the UAE have grown at an annual rate of 5.29% since 2011, reaching $2.03 billion.
The UAE’s dominance in Uganda’s export market is largely attributed to its acquisition of Ugandan gold, which has become the country’s top export. Other key exports include coffee, fish, raw sugar, and cocoa beans.
The Bank of Uganda report revealed that the UAE accounted for 97.46% of Uganda’s exports to the Middle East, with Israel, Saudi Arabia, and Jordan sharing the remaining 2.54%.
This development underscores the UAE’s growing influence in East Africa’s trade landscape and Uganda’s diversification efforts.
