Coffee ready for export
Uganda’s exports to the rest of the world in the last six months amounted to Shs4.23 trillion, Uganda Revenue Authority (URA) has revealed in its half-year revenue performance report (July 2022 to December 2022).
This was an increase of 7.13% (Shs281.75 billion) compared to the same period last financial year. This significant growth of exports was due to improved economic recovery from the COVID-19 pandemic.
Addressing the media at URA headquarters in Kampala on Tuesday, John R. Musinguzi, the URA Commissioner General, said the top exported items were; coffee, tea, beet sugar, iron/steel bars, wheat/meslin, salted/dry fish, mineral waters, other manufactured tobacco, grain sorghum, brans/sharps, other residue Viner sheets among others.
He said a decrease in exports was registered in fish fillets, mushrooms, cocoa beans, milk and cream, rolled iron/non-alloy steel, dried leguminous vegetables, articles of plastics and beauty make-up.
The 5-leading destination for Uganda’s exports were South Sudan, Italy, DRC, Kenya, and Germany.
Uganda’s Re-exports
He further revealed that Uganda’s re-exports to the rest of the world amounted to Shs735.15 billion. This is an increment of 8.99% (Shs60.62 billion) compared to same period last financial year.
The top re-exported items were; palm oil, bulldozers, goods motor vehicle, persons motor vehicles, wheat/meslin, bread/pasty cakes, tractors, prepared tomatoes and petroleum oils among others.
Uganda’s imports
Imports
He noted that Uganda’s imports amounted to Shs15.1 trillion posting a growth of 19.04% (Shs2.4 trillion) compared to the same period last financial year.
Figures show that the top imported items that registered an increase were gold, palm oil, medicaments, wheat/meslin, persons motor vehicles, polymers, polyethers, motorcycles, insecticides, worn clothing and rolled iron/non-alloy steel among others.
Noticeable reductions in imports were in vaccines, Portland cement, goods motor vehicle, rice, sorting machinery, the flat rolled product of alloy steel, new pneumatic tyres, and other footwear among others.
The top five sources of Uganda’s imports were China, India, Kenya, Zimbabwe and Japan.
URA collected a net revenue of Shs11. 67 trillion (46.4% of annual target) against a Shs11. 764 trillion in six months to December 2022.
Of these, Domestic Revenue contributed Shs7.470 trillion while Customs managed Shs4.453 trillion.
Other contributions came from wholesale and retail sales (Shs 3.3 trillion), manufacturing (Shs 2.6 trillion) while the financial services sector contributed Shs 1.225 trillion.
URA’s target for the Financial Year 2022/2023 is Shs25.151 trillion.
This means that URA has a duty to collect Shs13.386 trillion (53% of the revenue target) between January and June 2023.
“We are confident that we will achieve this target,” Musinguzi said.
