Uganda’s August export revenue rises 36% driven by gold earnings
Uganda's Finance Ministry announced on October 22, 2026, that export revenues surged 36% year-on-year in August, reaching $1.5 billion. This growth was largely due to a 68.9% increase in gold exports, valued at $889 million. The ministry also highlighted upcoming commercial oil production as a future boost to foreign exchange earnings.
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Uganda’s export revenue increased by 36% year-on-year in August 2026, reaching $1.5 billion, according to a report from the country’s Finance Ministry released on October 22.
The significant rise was primarily driven by gold exports, which surged 68.9% compared to the previous year, amounting to $889 million. Uganda has recently become a regional hub for gold processing and trading.
The Finance Ministry also noted that the commencement of commercial oil production and export, expected in early 2027 from oil fields near the Democratic Republic of Congo border, will further enhance Uganda’s foreign exchange earnings.