Business
Middle East still Uganda’s biggest market for exports
At the country level, the United Arab Emirates dominated the market, receiving 99.1% of Uganda’s exports to the region, according to the Ministry of Finance’s Performance of the Economy Report for May 2026.
Middle East still Uganda’s biggest market for exports
By: Umaru Kashaka, Journalist @New Vision
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The Middle East remained Uganda’s leading export destination in April 2026, accounting for 54.2% of total export earnings, according to a new government report.
At the country level, the United Arab Emirates dominated the market, receiving 99.1% of Uganda’s exports to the region, according to the Ministry of Finance’s Performance of the Economy Report for May 2026.
Other key export destinations included the East African Community, which accounted for 20.8% of exports, followed by Asia at 12.3% and the European Union at 7.6%.
A year-on-year analysis shows that Uganda’s merchandise exports increased by 24.3%, rising from $1.126 billion (about sh4.1 trillion) in April 2025 to $1.401 billion (about sh5.1 trillion) in April 2026.
The increase of $274.18 million was mainly driven by higher earnings from gold, base metals and related products, electricity, oil re-exports, cement, crude oil excluding petroleum products, cotton, beans, hides and skins, among other exports.
Export earnings from gold increased by 87.1%, rising from $462.86 million in April 2025 to $866.10 million in April 2026. The growth was driven by higher export volumes and rising global prices.
“The upward pressure on global gold prices has been attributed to the global shift to gold as a safe haven, amidst rising global tensions,” says the report.
Conversely, Uganda’s earnings from coffee declined year on year to $150.81 million in April 2026, down from $214.38 million in April 2025.
The decline in coffee export earnings was attributed to lower export volumes and reduced prices per kilogramme. Export volumes fell from 687,299 sixty-kilogramme bags in April 2025 to 591,687 bags in April 2026, while prices dropped from $5.15 per kilogramme to $4.25 over the same period.
The increase of $274.18 million was mainly driven by higher earnings from gold, base metals and related products, electricity, oil re-exports, cement, crude oil excluding petroleum products, cotton, beans, hides and skins, among other exports.
Export earnings from gold increased by 87.1%, rising from $462.86 million in April 2025 to $866.10 million in April 2026. The growth was driven by higher export volumes and rising global prices.
“The upward pressure on global gold prices has been attributed to the global shift to gold as a safe haven, amidst rising global tensions,” says the report.
Conversely, Uganda’s earnings from coffee declined year on year to $150.81 million in April 2026, down from $214.38 million in April 2025.
The decline in coffee export earnings was attributed to lower export volumes and reduced prices per kilogramme. Export volumes fell from 687,299 sixty-kilogramme bags in April 2025 to 591,687 bags in April 2026, while prices dropped from $5.15 per kilogramme to $4.25 over the same period.
Coffee earnings also declined on a month-on-month basis due to lower export volumes and falling prices.
According to the report, coffee prices continue to decline in line with global trends, driven by improved supply conditions following increased production in Vietnam, Indonesia and Ethiopia.
A month-on-month analysis shows that overall export earnings declined by 2.4%, from $1,435.15 million in March 2026 to $1,401.11 million in April 2026.
The decline was mainly attributed to reduced earnings from coffee, cocoa beans, sugar, tobacco, beans and oil re-exports, among other commodities.
According to the report, coffee prices continue to decline in line with global trends, driven by improved supply conditions following increased production in Vietnam, Indonesia and Ethiopia.
A month-on-month analysis shows that overall export earnings declined by 2.4%, from $1,435.15 million in March 2026 to $1,401.11 million in April 2026.
The decline was mainly attributed to reduced earnings from coffee, cocoa beans, sugar, tobacco, beans and oil re-exports, among other commodities.