Gold exports lifted up foreign exchange receipts in March and April, which could suggest an end to a long standoff between government and dealers over tax related issues.
Data from Bank of Uganda indicates that during March, Uganda exported more than 4,647 kilogramme of gold, returning an export value of $268m.
Exports continued into April with at least 3,399 kilogramme worth $200m exported in the month.
However, no details have been provided to show the performance in May.
The data also indicates that gold exports during March and April were higher than the average 2,400 kilogrammes exported before gold dealers suspended exportation of the commodity over a tax dispute in 2021.
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