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    Uganda Economy - 2002

      Economy - overview Uganda has substantial natural resources, including fertile soils, regular rainfall, and sizable mineral deposits of copper and cobalt. Agriculture is the most important sector of the economy, employing over 80% of the work force. Coffee is the major export crop and accounts for the bulk of export revenues. Since 1986, the government - with the support of foreign countries and international agencies - has acted to rehabilitate and stabilize the economy by undertaking currency reform, raising producer prices on export crops, increasing prices of petroleum products, and improving civil service wages. The policy changes are especially aimed at dampening inflation and boosting production and export earnings. During 1990-2001, the economy turned in a solid performance based on continued investment in the rehabilitation of infrastructure, improved incentives for production and exports, reduced inflation, gradually improved domestic security, and the return of exiled Indian-Ugandan entrepreneurs. Ongoing Ugandan involvement in the war in the Democratic Republic of the Congo, corruption within the government, and slippage in the government's determination to press reforms raise doubts about the continuation of strong growth. In 2000, Uganda qualified for enhanced Highly Indebted Poor Countries (HIPC) debt relief worth $1.3 billion and Paris Club debt relief worth $145 million. These amounts combined with the original HIPC debt relief added up to about $2 billion. Growth for 2001 was held back because of a continued decline in the price of coffee, Uganda's principal export.

      GDP purchasing power parity - $29 billion (2001 est.)

      GDP - real growth rate 5.1% (2001 est.)

      GDP - per capita purchasing power parity - $1,200 (2001 est.)

      GDP - composition by sector
      agriculture: 44%
      industry: 18%
      services: 38% (2000 est.)

      Population below poverty line 35% (2001 est.)

      Household income or consumption by percentage share
      lowest 10%: 4%
      highest 10%: 21% (2000)

      Distribution of family income - Gini index 37.4 (1996)

      Inflation rate (consumer prices) 3.5% (2001 est.)

      Labor force 12 million (2001 est.)

      Labor force - by occupation agriculture 82%, industry 5%, services 13% (1999 est.)

      Unemployment rate NA%

      revenues: $959 million
      expenditures: $1.04 billion, including capital expenditures of $NA (FY98/99 est.)

      Industries sugar, brewing, tobacco, cotton textiles, cement

      Industrial production growth rate 7% (1999)

      Electricity - production 1.599 billion kWh (2000)

      Electricity - production by source
      fossil fuel: 0.94%
      hydro: 99.06%
      other: 0% (2000)
      nuclear: 0%

      Electricity - consumption 1.314 billion kWh (2000)

      Electricity - exports 174 million kWh (2000)

      Electricity - imports 1 million kWh (2000)

      Agriculture - products coffee, tea, cotton, tobacco, cassava (tapioca), potatoes, corn, millet, pulses; beef, goat meat, milk, poultry, cut flowers

      Exports $367 million (f.o.b., 2001)

      Exports - commodities coffee, fish and fish products, tea; gold, cotton, flowers, horticultural products

      Exports - partners Germany 12.0%, Netherlands 10.2%, US 8.7%, Spain 8.0%, Belgium 7.1% (2000)

      Imports $1.26 billion (f.o.b., 2001)

      Imports - commodities capital equipment, vehicles, petroleum, medical supplies; cereals

      Imports - partners Kenya 43.1%, US 7.0%, India 6.8%, South Africa 6.1%, Japan 3.4% (2000)

      Debt - external $3.4 billion (2001 est.)

      Economic aid - recipient $1.4 billion (2000)

      Currency Ugandan shilling (UGX)

      Currency code UGX

      Exchange rates Ugandan shillings per US dollar - 1,738.7 (January 2002), 1,755.7 (2001), 1,644.5 (2000), 1,454.8 (1999), 1,240.2 (1998), 1,083.0 (1997)

      Fiscal year 1 July - 30 June

      NOTE: The information regarding Uganda on this page is re-published from the 2002 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Uganda Economy 2002 information contained here. All suggestions for corrections of any errors about Uganda Economy 2002 should be addressed to the CIA.

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    Revised 30-Jan-03
    Copyright © 2003 Photius Coutsoukis (all rights reserved)