The decline was mainly attributed to a fall in earnings from coffee, cocoa beans, sugar, tobacco, beans, oil re-exportsThe Ministry of Finance, Planning and Economic Development has revealed that in April 2026, Uganda exported goods worth (UGX5.101Trn), compared to goods worth (UGX5.225Trn), that were exported in March 2026, thus recording a decline worth UGX123.946Bn.The details are contained in the Performance of the Economy Monthly Report for May 2026, that was released yesterday on the Ministry of Finance’s official website and shared on the Ministry’s social media handles.The report noted, “A month-on-month analysis reveals that export earnings declined by 2.4 percent from USD 1,435.15million (UGX5.225Trn) in March 2026 to US$1,401.11 million (UGX5.101Trn) in April 2026. This decline was mainly attributed to a fall in earnings from coffee, cocoa beans, sugar, tobacco, beans, oil re-exports.”The Ugandan Government also detailed the destination of Uganda’s exports reporting that in April 2026, the Middle East remained Uganda’s leading export destination, accounting for 54.2 percent of Uganda’s exports. At a country specific level, the United Arab Emirates dominated, receiving 99.1 percent of our exports to the region, while other key export destinations included the East African Community (20.8 percent), Asia (12.3 percent) and the European Union (7.6 percent)Relatedly, the Ministry of Finance also revealed that in April 2026, Uganda’s imports increased marginally, from US$1,492.39 million (UGX5.434Trn), in March 2026 to US$1,509.28 million (UGX5.495Trn) in April 2026, due to an increase in formal private sector imports such as plastics, rubber & related products, base metals & their products, machinery equipment, vehicles & accessories, among others.According to the Ministry of Finance, the East African Community was the largest source of imports, accounting for 48.4 percent of the total import bill. This was followed by Asia (37.3 percent), the European Union (7.1 percent) and the Middle East (2.7 percent). Within Asia, China, India and Japan were the main source of imports from the region accounting for 48.8 percent, 29.6 percent and 7.2 percent of total imports from the trade block, respectivelyGovernment however has expressed concerns over the widening trade deficit with its neighbouring nations especially Kenya and Tanzania with records indicating that Uganda is importing more goods with the two nations, when compared to the low volume of exports Uganda sends to the two nations.The report detailed that during the month of April 2026, Uganda’s resulted in a widening of the deficit from USD 54.95 million in March 2026 to USD 438.07 million in April 2026, on account of a fall in exports coupled with the doubling of imports.The only nations where Uganda exported more goods than it imported included; Democratic Republic of Congo, South Sudan and Rwanda worth USD 113.16 million, USD 59.08 million and USD33.20 million respectively. On the other hand, Uganda traded at deficits with Kenya, Tanzania and Burundi worth USD 454.62 million, USD 151.40 million and USD 37.48 million.“These trade deficits have been largely attributed to the non-tariff barriers which continue to constrain Uganda’s exports to Kenya and Tanzania, while importing goods worth significant value from both countries. This reinforces the need to address these barriers to trade at the level of the East African Community Secretariat,” read in part the report.The post Uganda’s Export Earnings In April Decline By UGX124bn As Trade Deficit Deepens appeared first on Business Focus.