Uganda’s merchandise trade deficit reached $817.03 million in August 2026, up 151% from a year earlier as imports grew faster than exports, according to a Finance Ministry report published on 21 October.
The import bill surged 66.5% to $2.309 billion from $1.387 billion a year earlier. The ministry attributed the increase to higher values and volumes of petroleum products, mineral products, machinery, equipment and vehicles.
Export earnings still increased 40.6% to $1.492 billion. Gold, tea, tobacco and oil re-exports drove the rise, according to the report, which publishes trade data with a one-month lag.
Mineral products, dominated by gold, generated $889.03 million, or nearly 60% of total exports. Coffee receipts fell 10.9% from July to $181.65 million amid drought in several producing areas and lower global robusta prices.
The stronger import growth erased the gain in exports. Compared with July, the overall deficit more than tripled from $224.78 million to $817.03 million.
The imbalance with other East African Community countries also widened to $730.27 million. Uganda imported $1.05 billion of goods from the region in August while exporting $319.99 million.