KAMPALA, Uganda — Uganda’s export earnings declined by 14.1% in September, primarily due to a drop in coffee exports, the Ministry of Finance reported Friday.
According to the Ministry’s Performance of the Economy Monthly Report for October 2024, export earnings decreased from $794.52 million in August to $682.69 million in September.
Coffee export revenues plummeted by 34.7%, from $221.63 million in August to $144.71 million in September. The decline was attributed to lower coffee yields in the Greater Masaka and South-Western regions of Uganda.
The Ministry noted that the coffee sector’s performance is heavily influenced by climatic conditions. The report emphasized that reduced export volumes were primarily due to lower coffee yields.
In addition to coffee, earnings from other major export sectors, including mineral products, also declined. However, the Ministry did not provide specific figures for the mineral export decline.
Uganda’s export portfolio remains diversified, with the Middle East emerging as the largest regional market, accounting for 36.4% of total export earnings in September. The United Arab Emirates was the largest recipient, receiving 97.6% of Uganda’s exports to the region.
The East African Community and the European Union were also significant markets for Uganda, accounting for 28.6% and 18.5% of total exports, respectively.
The Ministry highlighted the growing diversification of Uganda’s export base, which has helped offset the impact of fluctuations in coffee earnings. While coffee remains Uganda’s largest agricultural export, the country has been increasing its exports of non-coffee agricultural goods, minerals, and manufactured products.
To maintain steady export growth, the Ministry emphasized the importance of improving agricultural practices to boost coffee yields and ensure more stable export volumes.
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