Uganda’s merchandise exports soared 77.6% in January from a year ago, hitting $1.5 billion compared to $844.6 million last year, the finance ministry reported. The growth was driven by strong sales of gold, coffee, industrial products, oil re-exports, beans, and electricity.
As Africa’s top coffee exporter, Uganda has seen rising revenues from high global prices and increased shipments. The country has also become a key regional hub for gold processing and trading, with last year’s bullion exports jumping 75.8% to $5.8 billion, helped by central banks worldwide stockpiling gold to diversify reserves.
Read the original article here: https://www.msn.com/en-us/money/investment/uganda-january-export-earnings-jump-more-than-77-on-year/ar-AA1ZpVlf?ocid=BingNewsVerp