Economy


During Amin's Rule:

Uganda has always had an abundance of natural resources but during Amin's rule, the economy was left in shambles. Since 1986, after Amin's rule was long over, the economy had been rebuilt with the help of foreign countries and international agencies. Restrictions on foreign exchange and monopolies in the coffee, cotton, power generation, and telecommunications industries have been removed. Since then, the economy has almost doubled.

One of Amin's most ill conceived moves on the economy came when he called for the exile of 60,000 Asians living in Uganda at the time. Many of them were businessmen and when they left, it resulted in many companies not being able to do business, which made the already declining economy of Uganda plummet.

Amin's horrible foreign affairs also caused Uganda's economy to suffer. With many of the world's powers refusing to trade with Uganda, it left Amin little option for what he imported and exported, which essentially put the economy at a standstill.




GDP (purchasing power parity)
$31.47 billion (2007 est.)
GDP - real growth rate
6% (2007 est.)
GDP - per capita
$1,100 (2007 est.)
GDP - composition by sector
agriculture 30.2%
industry 24.7%
services 45.2% (2007 est.)
Population below poverty line
35% (2001 est.)
Inflation rate (consumer prices)
5.8% (2007 est.)
Labor force
14.05 million (2007 est.)
Labor force by occupation
agriculture 82%
industry 5%
services 19% (1999 est.)
Public debt
20.6% of GDP (2007 est.)
Agriculture products
coffee, tea, cotton, tobacco, cassava
(tapioca), potatoes, corn millet, pulses;
beef, goat meat, milk poultry, cut flowers
Industries
sugar, brewing, tobacco, cotton textiles;
cement, steel production
Industrial production growth rate
5% (2004 est.)
Electricity production
1.983 billion kWh (2005)
Electricity consumption
1.674 billion kWh (2005)
Current account balance
-$241 million (2007 est.)
Exports
$1.459 billion f.o.b. (2007 est.)
Exports commodities
coffee, fish and fish products, tea; gold,
cotton, flowers, horticulural products
Imports
$2.726 billion f.o.b. (2007 est.)
Debt- external
$1.39 billion (31 December 2007 est.)
Currency
Ugandan shilling (UGS)
Current exchange rate
1 US Dollar = 1,701.00 Uganda Shilling
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