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Middle East has topped as Uganda's number one destination for the country's exports

Export earnings from South Sudan recorded an increase to Shs153b from Shs138b earned in February.

Uganda's export revenue from Middle East grew to Shs990b up from Shs290b in February. Middle East has topped Comesa as Uganda's number one destination for the country's exports for the month ended March, as reported by a Bank of Uganda.

This represented a 70 per cent growth from what the country earned in the region in February.

Most export receipts from Middle East came from United Arab Emirates taking a share of $259m (Shs976b). According to experts, Uganda's increase in gold and food exports to the Middle East could explain the increase in receipts.

Uganda, in the period under review, exported goods worth Shs388b up from Shs371b to Comesa and East Africa, indicating a 4 per cent increase.

The Central Bank report indicates that Uganda earned Shs9.8b from Rwanda down from Shs54b in February.

In the period under review, Uganda's exports to Kenya fetched Shs99b higher than what the country earned in February and January, which stood Shs73b and Shs67b, respectively.

Overall Uganda's export receipts in March increased to Shs2.2 trillion up from Shs1.1 trillion in February.

Source : newzmart
Posted on :6/7/2019