[bt_bb_section layout=”boxed_1200″ lazy_load=”yes” show_boxed_content=”no” allow_content_outside=”no” top_spacing=”normal” bottom_spacing=”” full_screen=”” vertical_align=”top” color_scheme=”” background_color=”” background_image=”” background_overlay=”” background_position=”” background_size=”” top_section_coverage_image=”” bottom_section_coverage_image=”” parallax=”” parallax_offset=”” background_video_yt=”” yt_video_settings=”” background_video_mp4=”” background_video_ogg=”” background_video_webm=”” responsive=”” publish_datetime=”” expiry_datetime=”” el_id=”” el_class=”” el_style=””][bt_bb_row][bt_bb_column lazy_load=”yes” highlight=”no” align_to_edge_column=”no” width=”1/1″][bt_bb_separator top_spacing=”normal” bottom_spacing=”” border_style=”none” border_width=”” responsive=”” publish_datetime=”” expiry_datetime=”” el_id=”” el_class=”” el_style=””][/bt_bb_separator][bt_bb_headline font_subset=”latin,latin-ext” superheadline=”” headline=”Demographics” subheadline=”” html_tag=”h3″ size=”inherit” align=”inherit” dash=”none” color_scheme=”” color=”” supertitle_position=”” font=”inherit” font_size=”” url=”” target=”_self” responsive=”” publish_datetime=”” expiry_datetime=”” el_id=”” el_class=”” el_style=”” font_weight=”” semitransparent_text=””][/bt_bb_headline][bt_bb_separator top_spacing=”normal” bottom_spacing=”” border_style=”none” border_width=”” responsive=”” publish_datetime=”” expiry_datetime=”” el_id=”” el_class=”” el_style=””][/bt_bb_separator][bt_bb_text]
[/bt_bb_text][bt_bb_separator top_spacing=”normal” bottom_spacing=”” border_style=”none” border_width=”” responsive=”” publish_datetime=”” expiry_datetime=”” el_id=”” el_class=”” el_style=””][/bt_bb_separator][bt_bb_headline font_subset=”latin,latin-ext” superheadline=”” headline=”Uganda’s Economy” subheadline=”” html_tag=”h3″ size=”inherit” align=”inherit” dash=”none” color_scheme=”” color=”” supertitle_position=”” font=”inherit” font_size=”” url=”” target=”_self” responsive=”” publish_datetime=”” expiry_datetime=”” el_id=”” el_class=”” el_style=”” font_weight=”” semitransparent_text=””][/bt_bb_headline][bt_bb_separator top_spacing=”normal” bottom_spacing=”” border_style=”none” border_width=”” responsive=”” publish_datetime=”” expiry_datetime=”” el_id=”” el_class=”” el_style=””][/bt_bb_separator][bt_bb_text]
An estimated 6.3% economic growth was reported in 2019 which was largely driven by the expansion of services. Services growth averaged 7.6% in 2019, and industrial growth at 6.2% while agriculture grew at 3.8%. The retail, construction, and telecommunications sectors were key economic drivers and inflation is expected to remain below 5%. There has been a positive approach by government to increase spending on public infrastructure and capital investments for the emerging oil and gas industry. There has been a decrease in the poverty rate since 2009 and it has been at a constant of 21.4% for two consecutive years (2018/2019) witnessing an increase in per capita income and an all time purchasing power parity of $89.19 billion in 2017. Uganda has substantial natural resources, including fertile soils, regular rainfall, substantial reserves of recoverable oil, and small deposits of copper, gold, and other minerals. Agriculture is one of the most important sectors of the economy, employing three quarters (72.%) of the work force. Oil revenues and taxes are expected to become a large source of government funding as oil production starts in the next three to 10 years. Over the next three to five years, foreign investors are planning to invest $9 billion in production facilities projects, $4 billion in an export pipeline, as well as in a $2-3 billion refinery to produce petroleum products for the domestic and East African Community (EAC) markets. The growing economy is projected to have enormous benefits for present and future investments.
[/bt_bb_text][bt_bb_separator top_spacing=”normal” bottom_spacing=”” border_style=”none” border_width=”” responsive=”” publish_datetime=”” expiry_datetime=”” el_id=”” el_class=”” el_style=””][/bt_bb_separator][bt_bb_headline font_subset=”latin,latin-ext” superheadline=”” headline=”Agriculture” subheadline=”” html_tag=”h3″ size=”inherit” align=”inherit” dash=”none” color_scheme=”” color=”” supertitle_position=”” font=”inherit” font_size=”” url=”” target=”_self” responsive=”” publish_datetime=”” expiry_datetime=”” el_id=”” el_class=”” el_style=”” font_weight=”” semitransparent_text=””][/bt_bb_headline][bt_bb_separator top_spacing=”normal” bottom_spacing=”” border_style=”none” border_width=”” responsive=”” publish_datetime=”” expiry_datetime=”” el_id=”” el_class=”” el_style=””][/bt_bb_separator][bt_bb_text]
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