Grapevine

By Monitor
Jul 24, 2024

Uganda spends Shs767b on gold imports, URA data shows

Uganda spent Shs766.89b on gold imports in 2022, according to data from Uganda Revenue Authority (URA).

Data contained in the URA May Annual Import Trade Report, 2022 indicates that during the period, Uganda imported unwrought or semi-manufactured gold from Zimbabwe, DR Congo and Tanzania.

However, the Shs766.89b was far higher than the Shs36.27b spent on the same commodity in 2021.

Gold remains Uganda’s largest export, contributing 44 percent of the country’s foreign exchange earnings, according to Bank of Uganda.

However, a recent tax dispute, which lasted almost two years, pitting government against gold dealers, had seen exports drop to zero, before they resumed early this year.