Uganda has recorded an increase in export earnings, according to a report released by the Business Tendency Index (BTI).

The BTI measures the level of optimism that executives have about the current and expected outlook for production, order levels, employment, prices, and access to credit.

According to Ministry of Finance Planning and Economic Development , the country registered an increase in the month of July, from 62.24 points in June to 64.21 points in July 2023.

This increase in export earnings is attributed to the higher exports of beans, maize, cotton, and gold.

“Uganda exported merchandise worth US Dollars 650.57 million in June 2023, representing an increase of 11.1% compared to the previous month of US Dollars 585.81 million,” MOFPED noted.

Uganda’s trade deficit with the rest of the world narrowed by 12% in June 2023, to US dollars 247.43 million from US dollars 282.08 million in May 2023.

President Yoweri Museveni has been popularizing commercial agriculture in a bid to stabilize the country’s economy.