Uganda's economy advanced by 13.7% year-on-year in the second quarter of 2021, following a downwardly revised 3% rise in the previous three-month period. It was the strongest expansion on record, amid a favourable low base effect from the previous year and amid a nascent economic recovery. Growth was mainly supported by the industrial sector, which jumped 17.7%, much faster than 2.8% in the prior period, amid strong performance in economic activities such as mining (48.8%), manufacturing (18%) and construction (16.3%). In addition, services activity gained stream (14.6% vs 5.5% in Q1), boosted by hotels & restaurants (82.8% vs 2.7% in Q1) as a result of opening up of activities in the tourism sector; information & communication (39.1% vs 16.5%); professional, scientific and technical (33.6% vs 60.1%) and financial & insurance (21.7% vs 10.1%). At the same time, the agricultural activity rebounded slightly (0.7% vs -0.2%). source: Uganda Bureau of Statistics
GDP Annual Growth Rate in Uganda averaged 5.16 percent from 2009 until 2021, reaching an all time high of 13.70 percent in the second quarter of 2021 and a record low of -8.10 percent in the third quarter of 2014. This page provides the latest reported value for - Uganda GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Uganda GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2021.
GDP Annual Growth Rate in Uganda is expected to be 5.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Uganda GDP Annual Growth Rate is projected to trend around 3.80 percent in 2022 and 6.00 percent in 2023, according to our econometric models.