Key Details on Uganda’s Gold Export Boom
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Export Value: Gold exports reached approximately $6.4 billion in 2025, increasing fivefold from $1.26 billion in 2019.
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Top Export Status: Gold has overtaken coffee as the country’s largest export commodity and primary source of foreign exchange.
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Main Destinations: The primary destination for Ugandan gold is the United Arab Emirates, followed by Hong Kong and India.
A big chunk of the gold is actually imported, refined locally, then re-exported. After costs, the real gain sits around $200 million.
Still, it’s a smart play… refine at home, stay in the global trade flow, and build capacity. Now the Bank of Uganda wants more gold sourced locally and better tracking across the sector.