The economy of Uganda advanced by 4.9% year-on-year in the second quarter of 2022, following a downwardly revised 5.1% rise in the previous three-month period. It was the sixth consecutive quarter of economic expansion, driven by improved momentum in agricultural activity (9% vs 7% in Q1), with solid growth observed in all sub-activities. Output also increased faster in industry (6.6% vs 5.5%), mainly boosted by mining & quarrying (77.6% vs 45.6%) and manufacturing (6.3% vs 7.8%). At the same time, the services sector gained some traction (2.6% vs 1.7%), driven by public administration (13.3% vs -6%), trade & repairs (8.7% vs 9.5%), real estate (9% vs 10.3%) finance & insurance (8.2% vs 6.4%) and information & communication (6.1% vs 4.7%). source: Uganda Bureau of Statistics
GDP Annual Growth Rate in Uganda averaged 5.02 percent from 2009 until 2022, reaching an all time high of 13.30 percent in the second quarter of 2021 and a record low of -8.10 percent in the third quarter of 2014. This page provides the latest reported value for - Uganda GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Uganda GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of 2022.
GDP Annual Growth Rate in Uganda is expected to be 5.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Uganda GDP Annual Growth Rate is projected to trend around 5.80 percent in 2023 and 5.70 percent in 2024, according to our econometric models.