Uganda

Uganda has substantial natural resources, including fertile soils, regular rainfall, small deposits of copper, gold, and other minerals, and recently discovered oil. Agriculture is the most important sector of the economy, employing over two-thirds of the work force

Uganda

This recovery in the economic activity of Uganda is mainly supported by public investment on infrastructure, recovery in private domestic consumption and investment demand, and a rebound in agriculture

UGANDA COUNTRY PROFILE

ECONOMIC GROWTH

 

Economy and society
The World Bank classifies Uganda as a low income country, and it is among the Sub-Saharan African developing countries. GDP in 2012 amounted to US$ 19.88 billion. Annual growth in GDP was estimated at 3.4% in 2011-2012, but is estimated to reach a growth rate of 6.2% in 2012-2013. Thus, while Uganda has offered growth rates exceeding the world average, the economy is now recovering from turbulence and inflation, and is forecast to offer growth rates exceeding those of the Sub-Saharan African region in general, which were estimated at 4.6% and 4.9% for 2011-2012 and 2012-2013, respectively (World Development Indicators, 2013). The discovery of gas and oil, is expected to offer the country a unique opportunity for structural transformation (African Development Bank).
Overall, the Sub-Saharan African economy has generated resilient growth, despite sluggish global trends. In 2012, growth in Sub-Saharan GDP reached an estimated 4.6%, placing the region third among developing regions (World Development Indicators, 2013). Especially low-income countries offer high growth rates. Explanations are to found in a solid domestic demand, high commodity prices, rising exports, and remittance flows. These developments are backed by a longer period of relative stability, an increasingly competitive business environment, and poverty reduction.
Poverty continues to mark the Ugandan society, but the % of the population living below the national poverty line has decreased steadily to 24.5% (World Bank). Life expectancy at birth is 58 years, comparable with other Sub-Saharan African countries. 28% of the population has unimproved drinking water sources and 66% has unimproved sanitation facility access. The risk of infectious diseases is very high, infant- and maternal mortality rates are high and the HIV/AIDS prevalence is significant (CIA World Factbook).

UGANDA COUNTRY PROFILE

 

Uganda country profile

Uganda gained its independence from Britain in 1962, but great diversity among the many ethnic groups making up the Ugandan population, resulted in political instability and

many lost lives until the mid-80s. Relative political stability and the end of a ban on multi-party politics have since been achieved. Located in East-Central Africa, bordering countries are Democratic Republic of the Congo, Kenya, Rwanda, South Sudan, and Tanzania. Uganda is landlocked, and the climate is generally tropical and rainy with dry seasons, and semiarid on the north.

The largest sector, in terms of GDP, is services, but agriculture employs more than 80% of the labour force. Agricultural products are coffee, tea, cotton, tobacco, cassava, potatoes, corn, millet, pulses, cut flowers, beef, goat meat, milk, and poultry. Major industries are sugar, brewing, tobacco, cotton textiles, cement, and steel production. The Ugandan population counts 34,758,809 and the official language is English.

Source: CIA World Factbook

Business Climate
Along with Laos, Honduras and Kazakhstan, Uganda is ranked a global number 140 on the Corruption Perceptions Index 2013 (Transparency International) with a score of 26, improved from last year’s score of 29. On the World Bank’s Ease of Doing Business Index, Uganda is ranked number 132, slightly below Kenya. Issues rendering the environment more conducive to the operations of a local firm are starting a business, dealing with construction permits, getting electricity, registering property and trading across borders (World Bank).