Rising Global Prices Push Gold Past Coffee as Uganda’s Top Export
Uganda’s gold exports rose dramatically in 2025. Data from the central bank shows a 76% year-on-year increase. Total exports reached $5.8 billion. This surge marks a major shift in the nation’s trade profile. Gold has now officially overtaken coffee as the top source of foreign exchange.
Bullion exports grew from $3.3 billion in 2024 to $5.8 billion in just one year. Global gold prices drove most of this growth. Geopolitical tensions pushed prices up by over 64% in 2025. This high demand attracted many new traders to Uganda’s gold sector.
For decades, coffee was Uganda’s main export. High prices and larger trade volumes have now changed that balance. Central bank officials confirmed gold is the country’s largest earner. This shift represents a significant structural change for the local economy.
Uganda produces a small amount of gold domestically. However, the country has become a regional processing hub. It imports large volumes of gold from neighboring countries. These include South Sudan and the Democratic Republic of Congo. Local facilities refine the gold before exporting it to global markets.
Better refining capacity has fueled this rapid growth. In 2025, Uganda also opened its first large-scale commercial gold mine. This $250 million project is located in eastern Uganda. Officials expect this mine to strengthen export revenues even further in the coming years.
The gold surge has boosted foreign exchange reserves. It also helped stabilize the local currency. However, some analysts express concerns. They worry about long-term sustainability and trade regulations. They also highlight the need for better traceability in the gold supply chain.
Uganda’s gold sector will likely remain a major earner. This depends on strong regional trade and high global prices. For now, the 2025 surge remains a defining moment for the country’s economy.
