GDP in Uganda
After ending 2022 on a softer note, the Ugandan economy entered 2023 on a stronger footing. Economic activity growth accelerated to 4.9% year on year in Q1, above the prior quarter’s 4.5% increase. Looking at monthly data, the economy’s robust performance in March chiefly drove the upturn: Activity tallied an annual 5.9% expansion—the strongest since September 2022. Similarly, seasonally adjusted month-on-month growth in March was 1.9% (February: -0.2% mom)—the steepest since July 2020. Moving to Q2, economic activity is likely remaining robust. Private-sector PMI data revealed conditions strengthened significantly in April, thanks to improving demand and increasing staffing levels. Additionally, borrowing costs remained unchanged, and price pressures moderated to a nine-month low in April, boding well for private spending in Q2.
Uganda GDP Chart
This chart displays GDP (USD bn) for Uganda from 2013 to 2022.
Uganda GDP Data
2017 | 2018 | 2019 | 2020 | 2021 | |
---|---|---|---|---|---|
GDP (USD bn) | 31.6 | 34.1 | 37.7 | 38.0 | 42.6 |