Uganda’s merchandise import bill registered a sharp increase in September 2025, with the Ministry of Finance reporting a 43.6 percent rise compared to the same period in 2024.
Imports climbed from US$1,015.6 million (Shs 3.628 trillion) in September 2024 to US$1,458.5 million (Shs 5.208 trillion) in September 2025.
This substantial growth reflects heightened demand for key goods across the economy as both industry and consumption activities continue to expand.
According to the Ministry, the surge was driven predominantly by higher formal private sector imports. Notable increases were recorded in mineral products (excluding petroleum), machinery and equipment, vehicles and accessories, petroleum products, base metals and their products, as well as vegetable and animal products, beverages, fats, and oils.
These categories represent critical inputs for manufacturing, construction, energy, and agro-processing, indicating ongoing economic growth and investment-driven demand.
On a month-to-month basis, merchandise imports also rose, increasing by 5.1 percent from US$1,388.2 million (Shs 4.959 trillion) in August 2025 to US$1,458.5 million (Shs 5.210 trillion) in September 2025.
This short-term rise was propelled by higher imports of petroleum products, wood and wood products, machinery and equipment, vehicles and accessories, prepared foodstuffs, tobacco and beverages, and textiles and textile products.
The Ministry noted that the private sector’s active participation in importation demonstrates strong purchasing activity, suggesting stable economic momentum heading into the final quarter of the year.
In contrast, the country’s export performance in September 2025 declined compared to the previous month. Uganda recorded a 10.32 percent drop in merchandise export earnings, falling from US$1,056.37 million (Shs 3.776 trillion) in August 2025 to US$947.33 million (Shs 3.385 trillion) in September 2025.
The decline was attributed to reduced export receipts from key commodities such as gold, sugar, cocoa beans, oil re-exports, and base metals. The Ministry of Finance highlighted that this month-to-month reduction translated into a difference of Shs 390,684,600,000.
Despite the monthly decline, the report highlighted strong year-on-year growth in Uganda’s export sector. Merchandise exports for September 2025 amounted to US$947.33 million, representing a 35.8 percent increase from US$697.60 million recorded in September 2024.
This performance was driven by stronger receipts from gold, coffee, base metals and their products, crude oil (excluding petroleum products), oil re-exports, and fish and fish products.
The gains underscore the resilience of Uganda’s export base despite volatility in global commodity markets and fluctuations in international demand.
The Ministry of Finance’s Performance of the Economy Monthly Report for October 2025 paints a picture of an economy undergoing significant shifts in trade dynamics.
The rise in imports indicates expanding domestic production and consumption needs, while the short-term decline in exports points to the vulnerability associated with commodity price volatility.
However, the strong annual export growth offers optimism for continued improvement as Uganda works toward diversifying its export portfolio.
Overall, the trade trends reflect a growing and evolving economy, driven by increased industrial activity and expanding market demand, even as the country navigates the challenges of fluctuating global commodity markets.