Tanzania has surpassed Kenya to become Uganda’s largest source of imports, particularly noted in the year ending June 2024. The total imports from Tanzania reached $1.77 billion, significantly higher than previous years. Kenya has fallen to the second position with $816.71 million worth of imports. Overall, Uganda’s total imports increased to $10.78 billion, showcasing a shift in trade dynamics within East Africa.
Recent data reveals a significant shift in trade dynamics in East Africa, with Tanzania surpassing Kenya as Uganda’s principal source of imports. The figures from the Bank of Uganda indicate that in the year ending June 2024, Uganda imported approximately $4.17 billion from various African nations, with Tanzania accounting for nearly half of this value. Key imports from Tanzania include gold, rolled iron, groundnuts, and various types of containers, with gold alone comprising over fifty percent of Tanzania’s exports to Uganda. Notably, Uganda’s imports from Tanzania this past year were valued at $1.77 billion, a substantial increase compared to $450.46 million in the previous year. In contrast, Kenya, which held the top position for many years, has fallen to second place with imports valued at $816.71 million. Kenya’s imports primarily consist of cement and rolled steel. Other notable suppliers include South Africa, which exported $268.8 million worth of goods, and Cote D’Ivoire and Burkina Faso, which witnessed significant increases in their export values as well. In broader terms, Uganda’s total imports reached $10.78 billion, up from $8.86 billion the previous year, emphasizing that while African sources are critical, China remains the top provider of goods to Uganda, contributing an impressive $1.93 billion. Other notable contributors include the United Arab Emirates and India. This evolving landscape highlights the interconnected but changing nature of trade relationships within East Africa and beyond.
This article discusses recent changes in Uganda’s import trends, particularly highlighting the shift in the largest source of imports from Kenya to Tanzania. It cites data from the Bank of Uganda and the Uganda Revenue Authority (URA), offering insights into the specifics of goods imported from different countries and the overarching increase in total import values. This shift is significant as it reflects broader economic trends and trading relationships within the East African Community (EAC) and the wider continent.
In conclusion, Uganda’s trade dynamics are evolving, with Tanzania emerging as the largest source of imports as of June 2024, overtaking Kenya for the first time in years. This shift illustrates the fluid nature of regional trade relationships, influenced by both economic growth factors and changing market demands. The rise in total imports also indicates that Uganda is diversifying its trade partnerships, particularly with significant contributions from non-African countries such as China. Understanding these trends is essential for businesses and policymakers in the region looking to navigate the complexities of trade and economic development.
Original Source: ntvkenya.co.ke
