'Uganda registered trade surpluses in April'

KAMPALA - Uganda registered trade surpluses with the Middle East, European Union (EU) and the Rest of Europe in April 2025.

The finance ministry’s performance of the economy report for May 2025 shows that Uganda recorded trade surpluses amounting to $304.00 million with the Middle East, $158.85 million with the EU, and $4.25 million with the rest of Europe during the month.

In contrast, trade deficits were recorded with the Rest of Africa ($250.14 million), Asia ($217.54 million) and the East African Community, amounting to $127.05 million.

Economic experts say if a country’s value of exports is greater than its imports, it creates a trade surplus, which means the country is making money from trade.

And if a country’s value of exports is less than its imports, it creates a trade deficit, meaning the country is not making money from trade and is inevitably in debt.

Usually, developed countries have a trade surplus and developing countries have a trade deficit, according to experts.

Uganda’s export earnings rose by 72.1% in April compared to the same period last year, increasing to $1,110.05 million from $644.90 million.

“This growth was primarily driven by higher export earnings from coffee, electricity, gold, cocoa beans, sugar and beer, among others,” the report states.

Meanwhile, the value of merchandise imports rose by 30.4%, from $948.81 million to $1,236.90 million.

“This was mainly attributed to higher volumes of formal private sector non-oil imports, particularly mineral products (excluding petroleum products), vegetable products, animal products, beverages, fats and oils, prepared foodstuffs, beverages and tobacco, textiles and textile products, among others,” the report adds.