ABU DHABI— Uganda’s export landscape has undergone a significant transformation, with the United Arab Emirates (UAE) emerging as the country’s largest export market, displacing traditional trading partner Kenya.
According to data from the Bank of Uganda, the UAE accounted for 25.66% of Uganda’s total export earnings in the period under review, valued at $2.03bn. India ranked second with $951.8m, while Kenya dropped to third with $626.7m.
Gold exports primarily drove the UAE’s dominance, solidifying Uganda’s position as a key player in the global gold market.
“The UAE’s acquisition of Ugandan gold has significantly boosted its share of Uganda’s export earnings,” said a Bank of Uganda official.
Historically, Kenya and Tanzania have been Uganda’s main trading partners. However, Uganda’s exports to Kenya have declined by 8.53% annually over the past five years, from $488m in 2017 to $312m in 2022.
In contrast, Uganda’s exports to the UAE have grown at an annual rate of 5.29% since 2011.
Analysts attribute this shift to Uganda’s diversification efforts and the UAE’s growing influence in East Africa’s trade landscape.
Uganda’s Prime Minister, Robinah Nabbanja, recently led a business delegation to the Abu Dhabi Chamber of Commerce and Industry, further solidifying bilateral ties. The UAE has invested over $3 billion in Uganda, with opportunities for further cooperation.
“The UAE is our number one market for exports in the Middle East,” Hon. Nabbanja stated. “We welcome the collaboration between Abu Dhabi Chamber of Commerce and Industry and Uganda National Chamber of Commerce and Industry.”
Uganda’s UAE exports surge, valued at $2.03bn, as Kenya’s share declines
The Prime Minister highlighted investment opportunities in agro-processing, commercialized agriculture, agro value-addition, minerals (oil and gas), tourism, healthcare, and energy.
Uganda is committed to exploring opportunities for cooperation to promote trade and investment, with a collaborative agreement ready for signature,” Nabbanja told UAE investors.
The visit was attended by key officials, including John Mulimba, Minister of State for Foreign Affairs, and Zaake Wanume Kibedi, Ambassador of the Republic of Uganda to the UAE.
