The economy of Uganda advanced 1.6% from a year earlier in the fourth quarter of 2020, following a downwardly revised 0.1% percent contraction in the previous period. The main positive contribution came from the industrial sector which grew 5.9%, above a 4.3% rise in the previous period, mainly boosted by construction (10.1% vs -10.2% in Q3); manufacturing (3.6% vs 3.4%)) and mining (12.9% vs 53.2%). The agricultural activity also gained momentum (3.1% vs 1.7%), supported by cash crops (14.6% vs -1.8%); livestock (7.7% vs 7.5%) and food crops (2% vs 4.2%). Meanwhile, the services sector continued to shrink although at a softer pace (-2.6% vs -4.6%), in particular food & accommodation services (-16.9% vs -24%); professional, scientific& technical (-55.9% vs -63.3%) and arts, entertainment & recreation (-19.5% vs -51%). source: Uganda Bureau of Statistics
GDP Annual Growth Rate in Uganda averaged 4.98 percent from 2009 until 2020, reaching an all time high of 11.70 percent in the second quarter of 2009 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 May of 2021.
GDP Annual Growth Rate in Uganda is expected to be 3.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Uganda to stand at 5.00 in 12 months time. In the long-term, the Uganda GDP Annual Growth Rate is projected to trend around 5.30 percent in 2022 and 6.00 percent in 2023, according to our econometric models.