Uganda’s economy continues to demonstrate strong resilience and growth, with exports, investment inflows and tourism earnings posting impressive gains, according to the Quarter Three Press Briefing for FY 2025/26 delivered by the Permanent Secretary and Secretary to the Treasury, Dr. Ramathan Ggoobi.
Dr. Ggoobi revealed that exports of goods and services reached USD 13.4 billion in FY 2024/25, with goods exports contributing USD 10.6 billion. By the year ending November 2025, exports of goods alone had climbed further to USD 12.79 billion, underscoring Uganda’s growing competitiveness in regional and global markets.
As a result of this strong export performance and rising capital inflows, Uganda registered a Balance of Payments surplus of USD 2.37 billion for the year ending October 2025, a remarkable turnaround from a USD 683 million deficit recorded a year earlier. Dr. Ggoobi noted that this is the highest BOP surplus in the last 15 years, driven by an all-time high financial account surplus of USD 5.6 billion, largely on account of strong foreign direct investment and portfolio inflows.
Foreign Direct Investment rose to USD 3.5 billion, while portfolio inflows stood at USD 1.7 billion for the year ending October 2025, reflecting growing investor confidence in Uganda’s economic prospects.
The country also benefited from increased support from Ugandans abroad, with diaspora remittances rising to USD 1.6 billion (Shs 5.76 trillion) in FY 2024/25, up from USD 1.1 billion in FY 2020/21.
Tourism has continued its recovery, posting renewed optimism as tourism earnings reached USD 1.7 billion in FY 2024/25. Dr. Ggoobi attributed this growth to sustained peace, improved competitiveness of Uganda’s tourism industry, government investment in strategic tourism infrastructure, and the positive impact of economic and commercial diplomacy initiatives.
Importantly, Dr. Ggoobi noted that business confidence has remained strong despite the election year, with key indicators remaining above growth thresholds. As of November 2025, the Business Tendency Index (BTI) stood at 57.2, the Composite Indicator of Economic Activity (CIEA) increased to 183.50, and the Purchasing Managers’ Index (PMI) rose to 53.8, all pointing to continued economic expansion.
“These indicators affirm the resilience of Uganda’s economy and the sustained optimism of the private sector,” Dr. Ggoobi said, adding that the outlook remains positive as government continues to implement reforms aimed at supporting growth, investment and exports.
