Mountains in Uganda

Uganda Merchandise Imports (ann. var. %)

Merchandise Imports 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 Merchandise Imports Chart

This chart displays Merchandise Imports (ann. var. %) for Uganda from 2013 to 2022.

Uganda Merchandise Imports Data

2017 2018 2019 2020 2021
Merchandise Imports (ann. var. %) 15.1 17.9 12.5 3.6 6.2

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