Uganda exports more gold than coffee

Uganda exports more gold than coffee

Gold is now Uganda’s biggest foreign exchange earner. The Central Bank of Uganda has announced that the country is now exporting more gold than coffee. The gold exports increased by 23 percent last year compared to 2017.

In 2018, Uganda exported gold worth $514 million in 2018, compared to $418 million earned in 2017. For the first time in history, gold has overtaken coffee as Uganda’s top foreign exchange earner. The peak in exports was caused by two additional small refiners in the country.

Coffee has been Uganda’s most important and biggest export. In 2018, coffee exports in Uganda was worth $436 million compared to $555 million the previous year. Some of the factors that led to the drop were low global coffee prices.

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