Sunday, January 23, 2022
Home > News > International News > Uganda Spent Shs2Trillion On Imports In August
International NewsNews

Uganda Spent Shs2Trillion On Imports In August

Uganda’s import bill in August 2021 amounted to USD541.5Million (Shs1.934Trn), representing a growth of 8.3% from the USD496.8 million  (about Shs1.772Trn) recorded in July 2021, The Ministry of Finance, Planning and Economic Development has revealed.

The Ministry’s records are contained in the Performance of Economy Report for September 2021 in which the Ministry attributed the growth in imports on high purchases for prepared foodstuffs, beverages, tobacco and petroleum products in August 2021 as economic activity continued to pick up after the lock down imposed to curb the spread of COVID-19 in June 2021 was eased.

 Government expenditure on imports grew from USD18.65 million (approximately Shs66.572Bn) to USD37.81Mn (Shs137.027Bn).

According to the Ministry of Finance, most of the products entering Uganda are coming from Asia accounting for 45.8% of all total imports during the month. Other notable sources were the EAC, Middle East and European Union at 15.1%, 14.6% and 12.1% respectively.

Leave a Reply

Your email address will not be published. Required fields are marked *