Uganda Ministry of Finance, Planning and Economic Development has disclosed that exported merchandise worth $371.81 million in December 2022, indicates an increase of 10.7 percent from $335.77 million registered in the month before, thereby helping the government to raise funds to cater for the needs of citizens.
According to the Ministry, the performance of the economy monthly report of January 2023 released on February 21 that the growth was attributed to increased receipts for maize and mineral products, among others.
The Ministry of Finance said during the month of December 2022, maize exports increased from $4.34 million in November 2022 to $20.48 million in December 2022.
The rise was partly due to the onset of the maize harvesting season as well as the heightened demand for Uganda’s maize by the neighboring countries.
However, the ministry revealed that there was a 7.2 percent decline in the value of coffee export earnings from $64.14 million in November 2022 to $59.54 million in December 2022.
This was mainly attributed to lower export volumes as a result of dry weather conditions from April to August 2022 in most parts of the country’s coffee-producing regions, which led to lower yields.
In comparison to December 2021, the ministry of Finance said export earnings increased from $323.96 million to $371.81 million representing a 15.1 percent growth.
This growth was on account of increased earnings from commodities such as maize, mineral products, beans among others.
