KAMPALA, January 28, 2026 — Uganda’s export earnings grew by 70.5 percent year-on-year to US$1.19 billion in November 2025, up from US$ 698.46 million recorded in November 2024, according to the latest Performance of the Economy Monthly Report released by the Ministry of Finance, Planning and Economic Development [MoFPED].
The report attributes the strong growth largely to increased receipts from coffee and gold exports. “In particular, the value of coffee exports grew by 70.8 percent, from US$ 108.91mln in November 2024 to US$ 185.99mln in November 2025,” the report notes.
The rise in coffee exports was driven by higher production as the harvest peaked in the central and eastern regions, coupled with improved global coffee prices during the period.
On a month-on-month basis, however, Uganda’s export earnings declined by 20.4 percent, falling from US$ 1.50bln in October 2025 to US$ 1.19bln in November 2025. “This decline was mainly driven by a reduction in earnings from gold exports, which fell by 33.7 percent, from US$ 964.60mln in October 2025 to US$ 639.26mln in November 2025,” the report says.
Despite this decline, non-gold exports registered growth of 3.6 percent between October and November 2025. Total non-gold exports amounted to US$ 551.25mln in November 2025, up from US$ 531.85mln in October 2025, mainly supported by exports of cocoa beans, tobacco and fish, among others.
Destination of Uganda’s exports
In November 2025, Uganda’s export earnings from the Middle East increased significantly, rising by US$ 270.06mln. As a result, the Middle East remained the leading destination for Uganda’s merchandise exports, accounting for 42.7 percent of total export earnings.
This was followed by the East African Community [EAC], which accounted for 21.7 percent, while Asia and the European Union accounted for 16.9 percent and 13.5 percent, respectively.
Notably, export earnings to both Asia and the European Union almost doubled compared to the previous month. Exports to Asia rose from US$ 92.2mln to US$ 201mln, while exports to the European Union increased from US$ 87.3mln to US$ 160mln.
Imports
On a year-on-year basis, Uganda’s import bill grew by 36.5 percent, from US$ 1.04bln in November 2024 to US$ 1.42bln in November 2025. According to the report, this growth was mainly driven by formal private-sector imports, particularly non-oil items such as prepared foodstuffs, machinery, vehicles and gold.
However, compared to the previous month, Uganda’s merchandise imports declined by 9.4 percent, from US$ 1.57bln in October 2025. During the month, formal private-sector non-oil imports recorded the largest decline, decreasing by 10.3 percent from US$ 1.41bln to US$ 1.26bln.
Origin of imports
In November 2025, the East African Community [EAC] and Asia remained the largest sources of Uganda’s merchandise imports, accounting for 30.4 percent and 28.5 percent of total imports, respectively.
Within the EAC, Tanzania was the leading source, contributing 55.2 percent of Uganda’s imports from the region. Similarly, within Asia, China remained the dominant source, accounting for 52.6 percent of imports from that region.
Other significant sources of Uganda’s imports were the rest of Africa and the Middle East, which accounted for 19.6 percent and 10.5 percent, respectively.
Trade balance
On a year-on-year basis, Uganda’s merchandise trade deficit narrowed by 32.4 percent, declining from US$ 343.7mln in November 2024 to US$ 232.3mln in November 2025. The report attributes this improvement mainly to stronger export growth, which outpaced the increase in imports.
Over the period, export earnings grew by 70.4 percent compared to a 36.5 percent increase in imports. However, on a month-on-month basis, the merchandise trade deficit widened sharply by 212. percent to US$232.33mln in November 2025, up from US$ 74.46mln in October 2025. This was largely due to the decline in export receipts, particularly from gold.
https://thecooperator.news/africas-coffee-exports-rise-7-7-percent-in-november-2025-ico-report/
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