Economy of Uganda - wikipedia Economy of Uganda Economy of Uganda Downtown Kampala Currency Ugandan shilling ( UGX ) Fiscal year 1 July -- 30 June Trade organisations EAC, COMESA, AU, WTO Statistics GDP $26.39 billion ( 2017 est. ) GDP rank 90th ( nominal, 2017 ) GDP growth 4.4 % ( 2017 est. ) ( 57th, 2017 est. ) GDP by sector Agriculture : 71.9 % Industry : 4.4 % Services : 23.7 % ( 2017 est. ) Inflation ( CPI ) 5.8 % ( 2017 est. ) Base borrowing rate 19.1 % ( 31 December 2017 est. ) Population below poverty line 19.7 % ( 2017 est. ) Gini coefficient 39.5 ( 2017 est. ) Labour force 20.05 million ( 2017 est. ) Labour force by occupation agriculture : 71.9 % ( 2013 est. ) Main industries sugar, brewing, tobacco, cotton textiles ; cement, steel production Ease - of - doing - business rank 115th ( 2017 ) External Exports $3.172 billion ( 2017 est. ) ( 123rd ) Export goods List coffee fish and fish product tea cotton flowers horticultural products gold Main export partners Kenya 20.9 % UAE 11.2 % Rwanda 9.5 % DR Congo 8.9 % Italy 4.5 % ( 2017 ) Imports $4.592 billion ( 2017 est. ) Import goods List capital equipment, vehicles, petroleum, medical supplies ; cereals Main import partners China 17.9 % India 17.2 % UAE 9.5 % Kenya 9.2 Japan 5.2 % South Africa 4.5 % Saudi Arabia 4.4 % ( 2016 ) FDI stock $10.909 billion ( 2016 ) Current account $ - 1.476 billion ( 2017 est. ) Gross external debt $7.163 billion ( 31 December 2017 est. ) Public finances Public debt $11.2 billion ( $3.8 billion, domestic ) ( 2018 ) Revenues $3.98 billion ( 2017 ) Expenses $7.66 billion ( 2017 ) Economic aid $3.68 billion ( 2017 ) Credit rating Standard & Poor 's : B Foreign reserves 3.045 billion ( 31 December 2017 est. ) Main data source : CIA World Fact Book All values, unless otherwise stated, are in US dollars. A family in a market in Kampala. Endowed with significant natural resources, including ample fertile land, regular rainfall, and mineral deposits, it is thought that Uganda could feed all of Africa if it were commercially farmed. The economy of Uganda has great potential, and it appeared poised for rapid economic growth and development. Chronic political instability and erratic economic management since self - rule has produced a record of persistent economic decline that has left Uganda among the world 's poorest and least - developed countries. The national energy needs have historically been more than domestic energy generation, though large petroleum reserves have been found in the country 's west. After the turmoil of the Amin period, the country began a program of economic recovery in 1981 that received considerable foreign assistance. From mid-1984 onward, overly expansionist fiscal and monetary policies and the renewed outbreak of civil strife led to a setback in economic performance. The economy grew since the 1990s. Real gross domestic product ( GDP ) grew at an average of 6.7 % annually during the period 1990 -- 2015., whereas real GDP per capita grew at 3.3 % per annum during the same period. During this period, the Ugandan economy experienced economic transformation : the share of agriculture value added in GDP declined from 56 % in 1990 to 24 % in 2015 ; the share of industry grew from 11 % to 20 % ( with manufacturing increasing at a slower pace, from 6 % to 9 % of GDP ) ; and the share of services went from 32 % to 55 %. Contents 1 International trade and finance 2 Currency 3 Agriculture 4 Transportation 5 Communications 6 Mining and petroleum 7 See also 8 References 9 External links International Trade and finance Ugandan export destinations in 2006. Since assuming power in early 1986, Museveni 's government has taken important steps toward economic rehabilitation. The country 's infrastructure, notably its transport and communications systems which were destroyed by war and neglect, is being rebuilt. Recognizing the need for increased external support, Uganda negotiated a policy framework paper with the IMF and the World Bank in 1987. Uganda subsequently began implementing economic policies designed to restore price stability and sustainable balance of payments, improve capacity utilization, rehabilitate infrastructure, restore producer incentives through proper price policies, and improve resource mobilization and allocation in the public sector. These so - called Structural Adjustment Programs greatly improved the shape of the Ugandan economy, but did not lead to economic growth in the first decade after their implementation. Since 1995, Uganda has experienced rapid economic growth, but it is not clear to what extent this positive development can be attributed to Structural Adjustment. Uganda is a member of the World Trade Organization, since 1 January 1995 and a member of the General Agreement on Tariffs and Trade, from 25 October 1962. Currency Main article : Ugandan shilling Uganda began issuing its own currency in 1966 through the Bank of Uganda. Agriculture Main article : Agriculture in Uganda See also : Fishing in Uganda, Forestry in Uganda, and Dairy industry in Uganda Agricultural products supply a significant portion of Uganda 's foreign exchange earnings, with coffee alone, of which Uganda is Africa 's second largest producer after Ethiopia, accounting for about 17 % of the country 's exports in 2017 and earning the country US $545 million. Exports of apparel, hides, skins, vanilla, vegetables, fruits, cut flowers, and fish are growing, while cotton, tea, and tobacco continue to be mainstays. Transportation Main article : Transport in Uganda As of 2017, Uganda had about 130,000 kilometres ( 80,778 mi ) of roads, with approximately 5,300 kilometres ( 3,293 mi ) ( 4 percent ) paved. Most paved roads radiate from Kampala, the country 's capital and largest city. As of 2017, Uganda 's metre gauge railway network measures about 1,250 kilometres ( 777 mi ) in length. Of this, about 56 % ( 700 kilometres ( 435 mi ) ), is operational. A railroad originating at Mombasa on the Indian Ocean connects with Tororo, where it branches westward to Jinja, Kampala, and Kasese and northward to Mbale, Soroti, Lira, Gulu, and Pakwach. The only railway line still operating, however, is the one to Kampala. Uganda 's important link to the port of Mombasa is now mainly by road, which serves its transport needs and also those of neighboring Rwanda, Burundi, parts of the Democratic Republic of the Congo, and South Sudan. An international airport is at Entebbe on the northern shores of Lake Victoria, about 41 kilometres ( 25 mi ) south of Kampala. In January 2018, the government of Uganda began the construction of Kabaale International Airport, in the Western Region of Uganda. This will be Uganda 's second international airport, which is planned to facilitate the construction of an oil refinery and boost tourism. Communications Main article : Communications in Uganda See also : List of mobile network operators in Uganda The Uganda Communications Commission regulates communications, primarily `` delivered through an enabled private sector. '' The companies it regulates include television networks, radio stations, mobile network operators, and fixed - line telephone companies. Mining and petroleum Main article : Mining industry of Uganda Uganda 's predominant mineral occurrences are gold, tungsten, tin, beryl, and tantalite in the south ; tungsten, clay, and granite between latitude zero and two degrees north ; and gold, mica, copper, limestone, and iron in the north. In late 2012, the government of Uganda was taken to court over value added tax that it placed on goods and services purchased by Tullow Oil, a foreign oil company operating in the country at the time. The court case was heard at an international court based in the United States. The Ugandan government insisted that Tullow could not claim taxes on supplies as recoverable costs before oil production starts. Sources from within the government reveal that the main concern at present is the manner in which millions of dollars have been lost in the past decade, money that could allegedly have stayed in Uganda for investment in the public sector ; a Global Financial Integrity report recently revealed that illicit money flows from Uganda between 2001 and 2012 totalled $680 million. Tullow Oil was represented in the court case by Kampala Associated Advocates, whose founder is Elly Kurahanga, the President of Tullow Uganda. A partner at Kampala Associated Advocates, Peter Kabatsi, was also Uganda 's solicitor general between 1990 and 2002, and he has denied claims that he negotiated contracts with foreign oil firms during his time in this role. In June 2015, the Ugandan government and Tullow Oil settled a longstanding dispute regarding the amount of certain capital gains taxes that the company owed to the government. The government claimed that the company owed US $435 million. The claim, however, was settled for US $250 million. In April 2018, the government signed agreements with Albertine Graben Refinery Consortium, an International consortium led by General Electric of the United States, to build a 60,000 barrels - per - day Uganda Oil Refinery in Western Uganda. The cost of the development is budgeted at about US $4 billion. See also Ministry of Finance, Planning and Economic Development ( Uganda ) Uganda Investment Authority Uganda Securities Exchange Banking in Uganda Tourism in Uganda Poverty in Uganda References Jump up ^ Biryabarema, Elias ( 3 October 2017 ). `` Uganda central bank lowers key lending rate to 9.5 percent ''. Reuters.com. Retrieved 8 June 2018. Jump up ^ `` Ease of Doing Business in Uganda ''. Doingbusiness.org. Retrieved 24 January 2017. Jump up ^ UNCTAD ( November 2017 ). `` Uganda : Foreign Investment : Foreign Direct Investment ''. Export Entreprises SA Quoting UNCTAD. Retrieved 8 June 2018. Jump up ^ Nakaweesi, Dorothy ( 27 June 2018 ). `` Uganda Shilling : A currency in free - fall ''. Daily Monitor. Kampala. Retrieved 27 June 2018. ^ Jump up to : KPMG ( June 2017 ). `` Uganda Budget Brief 2017 : Economic Commentary '' ( PDF ). Nairobi : KPMG Kenya. Retrieved 8 June 2018. Jump up ^ `` S&P lowers Uganda sovereign credit rating to B from B + ''. Reuters. 17 January 2014. Retrieved 9 December 2014. Jump up ^ Aid and other dirty business by Giles Bolton. Page 24. ISBN 978 - 0 - 09 - 191435 - 6 Jump up ^ World Bank ( December 2017 ). `` Uganda Economic Update, 10th Edition, December 2017 : Accelerating Uganda 's Development, Ending Child Marriage, Educating Girls ''. Washington, DC : World Bank Group. Retrieved 8 June 2018. Jump up ^ Staff Writer ( 31 May 2016 ). `` The richest and poorest countries in Africa ''. Johannesburg : Businesstech.co.za. Retrieved 8 June 2018. Jump up ^ John Aglionby ( 27 April 2017 ). `` Uganda 's oil reserves bring promise of work and infrastructure ''. The Financial Times. London. Retrieved 8 June 2018. Jump up ^ CARE International ( 13 November 2002 ). `` Economic cost of the conflict in Northern Uganda ''. New York City : ReliefWeb. Retrieved 8 June 2018. ^ Jump up to : World Bank. `` World Development Indicators ''. Washington, DC : World Bank Group. Retrieved 3 June 2018. Jump up ^ Baten, Jörg ( 2016 ). A History of the Global Economy. From 1500 to the Present. Cambridge University Press. pp. 332 -- 334. ISBN 9781107507180. Jump up ^ WTO ( 8 June 2018 ). `` Uganda and the WTO ''. Geneva : World Trade Organization ( WTO ). Retrieved 8 June 2018. Jump up ^ Bank of Uganda ( 8 June 2018 ). `` History of Uganda Currency ''. Kampala : Bank of Uganda. Retrieved 8 June 2018. ^ Jump up to : Nakaweesi, Dorothy ( 25 October 2017 ). `` Uganda posts highest coffee export volumes at 4.6 million bags ''. Daily Monitor. Kampala. Retrieved 8 June 2018. Jump up ^ International Trade Administration ( 8 March 2017 ). `` Uganda - Agriculture ''. Washington, DC : United States Department of Commerce. Retrieved 8 June 2018. ^ Jump up to : Ministry of Works & Transport ( 2017 ). `` Key Summary Statistics ''. Kampala : Uganda Ministry of Works and Transport. Retrieved 8 June 2018. Jump up ^ Dlca. LogCluster ) ) ( 2017 ). `` Map of Uganda Showing Main Roads ''. Dlca.logcluster.org. Retrieved 8 June 2018. Jump up ^ NCTTCA ( 2018 ). `` About the Northern Transportation Corridor ''. Mombasa : Northern Corridor Transit and Transportation Coordination Authority ( NCTTCA ). Retrieved 8 June 2018. Jump up ^ Globefeed.com ( 8 June 2018 ). `` Distance between Post Office Building, Kampala Road, Kampala, Uganda and Entebbe International Airport, 5536 Kampala Road, Entebbe, Uganda ''. Globefeed.com. Retrieved 8 June 2018. Jump up ^ Steenhoff - Snethlage, Erin ( 11 December 2017 ). `` Second international airport on the way for Uganda ''. Johannesburg : Ftwonline.co.za. Retrieved 8 June 2018. Jump up ^ Paul Mugume ( 23 January 2017 ). `` Uganda Communications Commission Toughens on Local Content Prioritization ''. Kampala : TCTech Magazine. Retrieved 8 June 2018. Jump up ^ Butagira, Tabu ( 31 August 2012 ). `` Study shows Uganda 's vast mineral riches ''. Daily Monitor. Kampala. Retrieved 8 June 2018. ^ Jump up to : Butagira, Tabu ( 17 December 2012 ). `` Tullow sues government in new tax dispute ''. Daily Monitor. Kampala. Retrieved 8 June 2018. ^ Jump up to : NorthSouthNews ( 8 January 2013 ). `` Tullow Oil and Ugandan government in second tax row ''. NorthSouthNews.com. Retrieved 8 June 2018. ^ Jump up to : RTE Ireland ( 22 June 2015 ). `` Tullow pays $250 million to settle Uganda tax dispute out of court ''. Dublin, Ireland : Raidió Teilifís Éireann. Retrieved 8 June 2018. Jump up ^ Mason, Rowena ( 18 April 2011 ). `` Tullow Oil sues Heritage over unpaid Ugandan tax bill ''. Daily Telegraph. London. Retrieved 8 June 2018. Jump up ^ Olingo, Allan ( 14 April 2018 ). `` Uganda signs $4 billion refinery plant deal ''. The EastAfrican. Nairobi. Retrieved 8 June 2018. Jump up ^ Musisi, Frederic ( 8 May 2018 ). `` Uganda signs off Shs4 trillion for US in refinery ''. Daily Monitor. Kampala. Retrieved 8 May 2018. External links Uganda Ministry of Finance, Planning and Economic Development Uganda Investment Authority ; Sector analysis reports available Economy of Uganda at Curlie ( based on DMOZ ) The Uganda Business Index Uganda Business Directory Uganda latest trade data on ITC Trade Map Google Earth map of the oil and gas infrastructure in Uganda World Bank Uganda Trade Summary Statistics Uganda articles History Early ( pre-1894 ) British rule ( 1894 -- 1962 ) Early independence ( 1962 -- 1971 ) Idi Amin ( 1971 -- 1979 ) Uganda since 1979 Geography Cities and towns Conservation Lakes Mountains Protected areas Rivers Wildlife Politics Administrative divisions Constitution Corruption Elections Foreign relations Government President Prime Minister Cabinet Human rights Intersex LGBT rights LGBT history Military Law enforcement Political parties Rebel groups Economy Agriculture Banking Central bank Conservation Energy Fisheries Forestry Poverty Shilling ( currency ) Stock exchange Telecommunications Tourism Transport Society Demographics Education Health Languages Religion Terrorism Water supply and sanitation Youth Culture Cinema Cuisine Gomesi ( dress ) Kanzu ( robe ) Media Music Bigwala Public holidays Sport Outline Index Portal Economy of Africa Sovereign states Algeria Angola Benin Botswana Burkina Faso Burundi Cameroon Cape Verde ( Cabo Verde ) Central African Republic Chad Comoros Democratic Republic of the Congo Republic of the Congo Djibouti Egypt Equatorial Guinea Eritrea Ethiopia Gabon The Gambia Ghana Guinea Guinea - Bissau Ivory Coast ( Côte d'Ivoire ) Kenya Lesotho Liberia Libya Madagascar Malawi Mali Mauritania Mauritius Morocco Mozambique Namibia Niger Nigeria Rwanda São Tomé and Príncipe Senegal Seychelles Sierra Leone Somalia South Africa South Sudan Sudan Swaziland Tanzania Togo Tunisia Uganda Zambia Zimbabwe States with limited recognition Sahrawi Arab Democratic Republic Somaliland Dependencies and other territories Canary Islands / Ceuta / Melilla ( Spain ) Madeira ( Portugal ) Mayotte / Réunion ( France ) Saint Helena / Ascension Island / Tristan da Cunha ( United Kingdom ) Western Sahara World Trade Organization System Accession and membership Appellate Body Dispute Settlement Body International Trade Centre Chronology of key events Issues Criticism Doha Development Round Singapore issues Quota Elimination Peace Clause Agreements General Agreement on Tariffs and Trade Agriculture Sanitary and Phytosanitary Measures Technical Barriers to Trade Trade Related Investment Measures Trade in Services Trade - Related Aspects of Intellectual Property Rights Government Procurement Information Technology Marrakech Agreement Doha Declaration Bali Package Ministerial Conferences 1st ( 1996 ) 2nd ( 1998 ) 3rd ( 1999 ) 4th ( 2001 ) 5th ( 2003 ) 6th ( 2005 ) 7th ( 2009 ) 8th ( 2011 ) 9th ( 2013 ) 10th ( 2015 ) 11th ( 2017 ) People Roberto Azevêdo ( Director - General ) Pascal Lamy Supachai Panitchpakdi Alejandro Jara Rufus Yerxa Members Afghanistan Albania Algeria Angola Antigua and Barbuda Argentina Armenia Australia Bahrain Bangladesh Barbados Belize Benin Bolivia Botswana Brazil Brunei Burkina Faso Burma Burundi Cambodia Cameroon Canada Cape Verde Central African Republic Chad Chile China Colombia Democratic Republic of the Congo Republic of the Congo Costa Rica Côte d'Ivoire Cuba Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Fiji Gabon The Gambia Georgia Ghana Grenada Guatemala Guinea Guinea - Bissau Guyana Haiti Honduras Hong Kong Iceland India Indonesia Israel Jamaica Japan Jordan Kazakhstan Kenya South Korea Kuwait Kyrgyzstan Laos Lesotho Liberia Liechtenstein Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Mauritania Mauritius Mexico Moldova Mongolia Montenegro Morocco Mozambique Namibia Nepal New Zealand Nicaragua Niger Nigeria Norway Oman Pakistan Panama Papua New Guinea Paraguay Peru Philippines Qatar Russia Rwanda St. Kitts and Nevis St. Lucia St. Vincent and the Grenadines Samoa Saudi Arabia Senegal Seychelles Sierra Leone Singapore Solomon Islands South Africa Sri Lanka Suriname Swaziland Switzerland Tajikistan Taiwan Tanzania Thailand Togo Tonga Trinidad and Tobago Tunisia Turkey Uganda Ukraine United Arab Emirates United States Uruguay Venezuela Vietnam Yemen Zambia Zimbabwe European Union Austria Belgium Bulgaria Croatia Cyprus Czech Republic Denmark Estonia Finland France Germany Greece Hungary Ireland Italy Latvia Lithuania Luxembourg Malta Netherlands Poland Portugal Romania Slovakia Slovenia Spain Sweden United Kingdom Special administrative regions of the People 's Republic of China, participates as `` Hong Kong, China '' and `` Macao China ''. Officially the Republic of China, participates as `` Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu '', and `` Chinese Taipei '' in short. Retrieved from `` https://en.wikipedia.org/w/index.php?title=Economy_of_Uganda&oldid=856067535 '' Categories : Economy of Uganda World Trade Organization member economies African Union member economies Hidden categories : Articles with Curlie links Talk Contents About Wikipedia Languages Asturianu Català Español Français Galego Ido Occitan Português Русский Українська 中文 5 more Edit links This page was last edited on 22 August 2018, at 17 : 04 ( UTC ). About Wikipedia

Question: when does the financial year start in uganda
Answer: 1 July