Uganda’s trade deficit falls by 46.3% on year
At the regional level, Uganda traded at a deficit of $152.97m with the East African partner states in March, which was significantly higher than the trade deficit of $21.73m registered the previous month.
Uganda’s trade deficit falls by 46.3% on year
Umar Kashaka
Journalist @New Vision
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Uganda’s trade deficit with the rest of the world narrowed by $183.95m (46.3%) in March from a year earlier, according to the latest official figures.
The finance ministry's performance of the economy report for April 2025 indicates that the trade deficit declined from $397.58m to $213.63m in March 2025.
This improvement was driven by a strong 40.6% growth in export earnings, which more than offset the 7.3% increase in the import bill during the month.
However, on a month-on-month basis, the trade deficit widened by $164.74m (337.0%), driven by a 25.4% increase in the import bill, which outpaced the 7.3% growth in export earnings during the month.
A trade deficit is when a country’s imports exceed its exports, meaning the country is not making money from trade and is inevitably in debt.
At the regional level, Uganda traded at a deficit of $152.97m with the East African partner states in March, which was significantly higher than the trade deficit of $21.73m registered the previous month.
The higher deficit was attributed to a 46.5% increase in the import bill, which was coupled with a 12.3% reduction in export receipts during the month.