The International Trade Centre (ITC) has identified around US$1.1 billion in untapped export potential in Uganda, one of the world’s poorest countries with a GDP per capita of US$1 819.
According to the ITC, growth has stagnated in the country with Uganda exporting only a little less than US$2.5 billion in 2016 and recording a negative trade balance of US$2.35 billion in the same year.
ITC data suggest that there is unexplored potential to the value of US$163 million in coffee, US$82 million in cocoa beans and US$64.9 million in cane or beet sugar. Diversification opportunities for the East African country have also been identified in jute, cashew nuts and legumes.
Additionally, the implementation of the East African Customs Union by the East African Community (EAC) – of which Uganda forms part – could help boost the country’s exports across EAC countries which are already among Uganda’s top importers.
“In fact, US$207.2 million of Uganda’s untapped export potential can be found in the region, and even US$261.5 million can be found across East Africa,” said an ITC spokesperson.
