Uganda’s export revenues double in October thanks to coffee and gold
Ugandan export revenues recorded a sharp jump during the month of October, almost doubling compared to the same period last year, driven by a rise in revenues of basic commodities, led by coffee, cocoa and gold, according to a report issued by the Ministry of Finance on Thursday.
The report, according to what was published by the American network CNBC, stated that revenues from exports of commercial goods in the East African country rose. To $1.5 billion in October, compared to $769.6 million in the same month of 2024.
Uganda is the largest exporter of coffee in Africa, and its revenues from this crop have witnessed a noticeable rise in recent months, supported by the rise in global prices.
At the same time, bank data showed The Uganda Central Bank said that the country’s revenues from gold shipments more than tripled, reaching $964.6 million in October, compared to revenues recorded in the same month last year.
This rise comes in light of the rise in global gold prices during the current year, driven by several factors, including increased demand for safe havens and the weakness of the US dollar.
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