Uganda July Export Earnings Up 10 Percent
Uganda reported a 10.2 percent increase in July export earnings to 1.40 billion dollars, supported by higher shipments and prices for gold, cocoa, and flowers. The growth helps cushion the local currency against recent dollar pressure.
Insights:
Uganda's export earnings rose 10.2% to $1.40 billion in July, driven by strong shipments of gold, cocoa, and flowers, the finance ministry said Monday afternoon. The surge follows an increase from $1.27 billion recorded during the same period a year earlier. The higher export receipts provide critical support to the local shilling, which has faced depreciation pressure against the dollar.
