The MIND is a monthly publication. It contains Indicators updated on Monthly, Quarterly and Yearly frequencies. Consequently, it is prepared with a lag of one month, owing to the need to compile data that has been officially released following the end of the preceding month. The same principle applies to the Quarterly and Yearly data.
Uganda won a gold medal during the 12th edition of the Global Annual Investment Meeting (AIM) 2023, in recognition of the country’s ability to attract Foreign Direct Investment. The event was held in May 2023 and attracted 170 participating countries under the theme “The Investment Paradigm Shift: Future Investment Opportunities to Foster Sustainable Economic Growth, Diversity and Prosperity.” This was due to relentless efforts in encouraging continuity of trade and manufacturing amidst the turbulent time of the Covid pandemic. Rwanda was runner-up.
The EAC adopted EAC strategy for trade in services 2023-2033 in February, 2023. This was in line with the directive of the EAC Sectoral Council on Trade, Industry, Finance and Investment (SCTIFI), at its meetings held on 16th November 2018, to the EAC Secretariat to develop an EAC Strategy for Trade in Services (TiS) to guide EAC interventions going forward (EAC/SCTIFI/35/Directive 20). The Strategy’s main objective is to enhance service sector integration in the EAC region and increase intra-EAC trade in services and exports of services to the continent and the world.
Domestic trade (wholesale and retail) is one of the least prioritized in development planning and has received limited attention in Uganda’s policy discourse. Using Uganda National Household Surveys (UNHS) from 2012/13, 2016/17, and 2019/20, evidence reveals that most Ugandans are employed in the retail trade except for motor vehicles and motorcycle activities subsector.
The East African Community (EAC) offers a large market for trade in merchandise and services. With a population of about 283.7 million consumers alongside millions of others from inter-regional trade with other African blocs. The EAC total trade increased by 13.4 percent to US$74,030.9 million in 2022 from US$65,268.9 million in 2021. EAC total exports to the rest of the world (RoW) were valued at US$20,139.4 million and EAC total imports from the RoW amounted to US$53,891.48 million thereby recording and EAC recorded a trade deficit of negative US$33752.1 million in 2022.
The Uganda Road Fund was established by Government to finance routine and periodic maintenance of public roads. On a quarterly basis monitoring and evaluation is undertaken to ensure value for money of the funds disbursed to Designated Agencies (DAs). The road maintenance programme aims to reduce the rate of deterioration of roads, lower vehicle operating costs, travel time, and safety of road users.
Uganda’s Ministry of Energy and Mineral Development (MEMD) has granted Australian-based mineral producer Ionic Rare Earths approval for works to commence on the construction of a Demonstration Plant at the company’s Makuutu Mine, a rare-earths mine located in eastern Uganda.
As a member of the Extractives Industries Transparency Initiative (EITI), Uganda is required to implement its provisions that aim to improve the participation of women in extractive sector management and encourage the publication of data by gender. EITI standards also require equal participation in decision making and especially addressing inequalities.
Cotton is one of Uganda’s three major traditional crops. The cotton value chain employs several actors including farmers, traders and ginners. Their primary products and by-products are input into various industries namely; cottonseed millers (husks, cake and soap makers), cotton wool manufacturers and textile manufacturers. In general, the lint value chain is more developed than that for by-products.
Over 13percent of youth are unemployed and a much bigger share (40.7 percent) are neither in employment, education or training (NEET), which is inflated by 31 percent of youth engaging exclusively in subsistence agriculture, most of which are not studying and are not considered economically active (UBOS, 2018)
