Uganda’s recent import data shows Tanzania has overtaken Kenya as the largest source of imports in Africa, with goods worth $1.77 billion in the year ending June 2024. This marks a significant increase from $450.46 million the previous year, while imports from Kenya decreased to $816.71 million. This change reflects a broader trend in Uganda’s economic interactions within East Africa and beyond, with China remaining the largest global supplier.
Recent data from the Bank of Uganda indicates a significant shift in Uganda’s import sources, as Tanzania has surpassed Kenya to become Uganda’s largest supplier of imports in Africa. For the year ending June 2024, Uganda’s imports from Tanzania reached $1.77 billion, a substantial increase from $450.46 million recorded in the preceding year. Uganda primarily imports gold, iron and steel products, and various consumer goods from Tanzania, with gold accounting for more than half of the imports. In comparison, imports from Kenya fell to $816.71 million, while South Africa followed with $268.8 million. Beyond Africa, China remains Uganda’s largest trading partner, contributing $1.93 billion worth of goods. Overall, Uganda’s total imports rose to $10.78 billion, reflecting a broader trend of changing trade dynamics in the East African region.
For years, Kenya has been Uganda’s primary trading partner, particularly in terms of imports. The shift in trade relationships is illustrated by recent statistics, where Tanzania has established itself as the largest source of imports for Uganda. The data reflects a broader trend of diversification in Uganda’s import sources, driven by growing economic interactions within the East African Community and other regional trade agreements such as Comesa. This restructuring signifies significant economic implications for trade in the region.
The adjustment in Uganda’s import dynamics, with Tanzania now leading over Kenya, underscores a pivotal change in regional trade relations. With a notable increase in imports from Tanzania, particularly in gold and steel, Uganda has diversified its trading partnerships. This evolution highlights the growing economic integration within East Africa, pointing towards a future where countries may further explore new markets and trading relationships. Overall, Uganda’s increasing total imports reflect a robust economic activity and a shift in sourcing strategies.
Original Source: ntvkenya.co.ke
