Uganda’s export earnings almost doubled in October to about US$1.5 billion compared with the same month last year, boosted by strong sales of coffee and gold, official data showed.
Coffee, the east African country’s main export and largest source of foreign exchange, benefited from elevated global prices, lifting overall export performance.
Uganda, Africa’s top coffee exporter in 2025, earned a record US$2.4 billion from coffee exports in the 12 months to October, with shipment volumes rising sharply and Europe remaining the main destination, the data showed.
Gold exports also underpinned the surge, with earnings from shipments more than tripling year on year to around US$965 million, supported by higher volumes and firm international prices.
The strong performance of the two commodities has helped bolster foreign exchange reserves and support the shilling, according to the Bank of Uganda, at a time of lingering global and domestic economic pressures.
Uganda’s export base is dominated by primary commodities, leaving external earnings highly sensitive to global price swings and weather conditions, despite gradual efforts to diversify.
Coffee is by far the country’s most important export, accounting for the largest share of merchandise export receipts and employing millions of smallholder farmers. Uganda is Africa’s leading coffee exporter by volume, shipping mainly robusta beans, with Europe as the principal market, followed by the United States and Asia. Earnings have risen sharply in recent years, driven by higher international prices and increased output.
Gold has emerged as the second-largest export earner, reflecting Uganda’s growing role as a regional refining and trading hub. Much of the gold exported is sourced from neighbouring countries and refined locally before shipment, making export revenues particularly sensitive to global bullion prices and regulatory oversight.
Beyond coffee and gold, Uganda exports tea, fish, maize, beans and manufactured goods such as cement and steel products, largely to regional markets within East and Central Africa. South Sudan, the Democratic Republic of Congo and Kenya are key destinations for non-traditional exports.
The rise in export earnings has helped support the shilling and build foreign exchange reserves, easing pressure on the balance of payments. The Bank of Uganda has repeatedly cited stronger export inflows as a buffer against external shocks, including high fuel import bills and tighter global financial conditions.
However, Uganda continues to run a trade deficit, driven by heavy imports of fuel, machinery and capital goods linked to infrastructure and oil-sector investments. Authorities say improving value addition, reducing informality in gold trade and expanding non-traditional exports will be critical to making export gains more sustainable over the medium term.
