Posted 2/22/2024, 1:50:40 PM
Uganda Exports More to EU than Vice Versa for First Time in Trade Milestone
- For the first time, Uganda's export revenue from the EU is higher than the EU's export revenue from Uganda, marking a historic shift
- Uganda now exports more coffee to Europe while importing less machinery, tipping trade balances in its favor
- Trade between Uganda and the EU totals €1.5 billion, with Uganda earning €800 million and the EU €700 million
- Increased foreign investment and demand for Ugandan goods like coffee and agricultural products contributed to this milestone
- The EU remains an important trade partner for Uganda across sectors like construction, energy, and tourism