Uganda

Uganda is ready for a resurgence.

In 1986, the election of Yoweri Museveni as President of Uganda brought an end to decades of military dictatorship and insurgency. Over the last 20 years, Uganda has emerged from its troubled past and is now considered one of the top 15 fastest growing economies in the world.  Uganda was one of the first countries in the region to begin liberalizing its economy and introducing pro-market reforms, and Uganda’s vast supply of natural resources, fertile soil, and regular rainfall further contribute to the growing stability and prosperity of the country.

Timeline

1962
Independence from Britain
1971
General Idi Amin seizes power of Uganda through a bloody military coup and his 8-year dictatorial rule produced economic decline, social disintegration, and massive human rights violations, including the mass killings of over 300,000 Ugandans.
1986
Yoweri Museveni is installed as president of Uganda, ending years of military dictatorship and bloody warring for power.
2001
East African Community (EAC) inaugurated in Tanzania, laying groundwork for common East African passport, flag, economic and monetary integration. Members are Tanzania, Uganda and Kenya.
2009
The United Kingdom oil explorer Heritage Oil says it has made a major oil find in Uganda.
2015
Uganda surpassed the Millennium Development Goals (MDGs) target on halving poverty, and has made significant progress in reducing the population that suffers from hunger, promoting gender equality and empowering women.
2016
President Museveni wins re-election amid controversy, raising international concern about fairness and transparency.

Overview

Demographic + Economic Overview

Uganda has a young population, and is ethnically diverse with no one ethnic group holding large majority. Literacy among adults is 78%, and English is the official national language, and also the one taught in grade schools, used in courts of law, and most media.

37.1M Current
Population
104.1M Projected Population Growth by 2050
15.6 Median
Age
19.7% Poverty (2013)
63.4% Workforce
Participation
  • Income Level Classification:
  • Low
  • Lower Middle
  • Higher Middle
  • High

Outlook

Economic Outlook

Agriculture is the most important sector of Uganda’s economy, employing one third of the workforce. Recently discovered deposits of oil in Uganda only add to the rich array of natural resources in the country, including copper, gold, and other minerals. But it still faces many challenges, particularly in infrastructure development, regional instability and corruption within the public sector. However, with a positive track record of sound economic management, the outlook for Uganda is largely positive in the medium-term forecast.

$24.9B Gross
GDP
$2,100 Per Capita
GDP
GDP Growth Chart Comparison
5.04% Uganda
3.4% Sub-Saharan Africa
2.4% World
4.9% Inflation
$1,100M Foreign Direct
Investments
122 / 189 Ease of Doing Business Ranking
139 / 168 World Corruption Ranking
3647.00 UGX / $1 USD
Current Average Exchange Rate Currency: Ugandan Shilling (UGX)

Key Sectors

Key Sectors

Uganda’s economy has long depended on agriculture, specifically on the export crops of coffee, tea and cotton. But it continues to diversify, particularly given the recent discovery of oil, accompanied with small deposits of copper, gold, and other minerals. In the near future, oil will become a major source of revenue in the country, especially as private industry invests in the area to pursue oil-related activities.

GDP
by Sector
26.3% Agriculture
51.4% Service
22.3% Industry
Workforce by Sector
40% Agriculture
50% Service
10% Industry