Uganda registers trade surpluses with EAC members

By Ritah Kemigisa

Uganda has for the second month running registered trade surpluses with the East African Community and the rest of Africa.

According to the Economic Performance report for the month of September, Uganda’s trade position within the region improved from deficits of USD 64.9 million and USD 63.6 million to surpluses of USD 25.3 million and USD 45.9 million respectively.

The report however shows that there was a turnaround in Uganda’s trade position with the Middle East from a surplus of USD 179.8 million to a deficit of USD 73.4 million in August 2021.

They have attributed this to a slowdown in exports of Gold to that region.

This arises from the 5% levy imposed by government on each refined kilogram of refined gold and a 10% levy on each kilogram of unrefined gold exported out of Uganda which affected exports in July and August 2021.

Written by Noelyn Nassuuna