Uganda's export earnings surged by 63% year-on-year to $1.37 billion in February 2026, fueled by unprecedented demand for gold and coffee, according to a Ministry of Finance report released this week. The growth marks a dramatic leap from $839.28 million recorded in February 2025, positioning the East African nation as a rising player in global commodity markets.
Gold exports more than doubled to $818.16 million, driven by soaring global prices and central banks' reserve diversification strategies amid geopolitical tensions. Coffee shipments also climbed to $180.98 million, with export volumes jumping 17% to 651,933 bags due to improved farming yields.
While exports flourished, Uganda's import bill grew 65.2% to $1.4 billion, reflecting increased purchases of mineral products, machinery, and chemicals. Despite this trade imbalance, the economy showed resilience with a 0.6% rise in the Composite Index of Economic Activity, supported by stable inflation and private sector growth.
Analysts suggest Uganda's performance underscores Africa's growing role in meeting global demand for strategic resources. With gold prices expected to remain high and coffee production modernizing, the country could strengthen its economic foothold in 2026.
