Uganda, a Commonwealth member, recorded stronger export earnings in July this year (2026), with the value of goods sold abroad rising by about 10% compared to the same month last year. According to the country’s finance ministry, the increase was supported by gold exports alongside stronger receipts from several agricultural and industrial commodities.
Merchandise exports reached approximately $1.40 billion in July, compared with $1.27 billion in July last year (2025). Government data put the year-on-year increase at 10.1%, while a report by Reuters reported it at 10.2%. The monthly figure was also higher than the $1.29 billion recorded in June this year (2026).
Gold was the largest contributor to the rise. Uganda’s gold export earnings climbed by 35% to about $788.45 million, and that is a clear sign which reflects both increased volumes as well as stronger international prices. The finance ministry linked the rise in global gold demand partly to investors who are seeking safe-haven assets in the middle of geopolitical tensions which are heightened.
Other products also contributed to the growth. The main examples of these are maize, cocoa, flowers, cement and electricity, which can be counted as bare necessities. Maize exports, in particular, recorded a substantial year-on-year increase, while flower earnings were also higher than a year earlier.
However, Uganda’s export performance continued to be uneven throughout major commodities. Coffee is known to be one of the country’s most important sources of foreign exchange, and it had generated about $204.94 million in July, down more than 18% from the year before. Coffee export volumes also declined, with shipments falling to around 847,000 60-kilogram bags.
The improvement in exports comes as Uganda continues to rely and depend heavily on international trade to generate the country’s foreign currency. The Middle East accounted for 53.5% of merchandise exports during July, with the United Arab Emirates representing the overwhelming majority of Uganda’s exports to the region, largely because of gold shipments.
The stronger export receipts could provide some type of support for Uganda’s foreign-exchange position and its shilling, which had faced pressure against the US dollar in recent days. At the same time, the figures highlight the country’s continued dependence on commodity markets, where international prices and production levels can significantly affect export income.
