1. Market Research
  2. > Country Economic Forecasts > Uganda

Country Economic Forecasts > Uganda

  • January 2017
  • -
  • Oxford Economics
  • -
  • 7 pages

Summary

Table of Contents

Search Inside

Agricultural weakness due to drought weighed heavily on economic activity last year. GDP growth was just 2.8% in Q1-Q3 2016, primarily due to a 1.1% contraction in agriculture. As a result, we have cut our GDP growth estimate for 2016 to 3.3%, down sharply from our October projection of 5.1%.

Looking ahead, growth is expected to pick up markedly this year, with a recovery in agriculture, a loosening of monetary conditions and strong momentum in the services sector lifting GDP growth to 5.8% in 2017. Furthermore, the external balances improved markedly in 2016 due to a substantial rise in gold exports, subdued international energy prices and lower capital goods imports. However, a recovery in capital goods imports in line with reinvigorated infrastructure investment efforts, together with a steady recovery in world oil prices, is expected to result in a widening of the external deficit over the medium term.


Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 24 Million searchable statistics with tables, figures & datasets
  • More than 10,000 trusted sources
Get This Report
24/7 Customer Support

Talk to Ahmad

+1 718 618 4302

ref:plp2017

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.