Uganda’s exports surge 36% in August, driven by gold

Uganda’s export earnings rose 36% in August to $1.5 billion, up from $1.1 billion a year earlier, according to a Finance Ministry report. Gold accounted for $889 million, nearly 69% more than a year earlier, as Uganda has become a regional hub for refining and trading the precious metal. The export growth could support the shilling, alongside diaspora remittances expected toward the end of the year. Kampala plans to begin commercial oil production in western Uganda, near the Congolese border, in early 2027.