The overall upward trajectory has surged by a rate of 36.7% CAGR in 2024, accounting for approximately 49% of the non-coffee export earnings. Import Globals gives a detailed analysis of the precious metals export of Uganda by highlighting all the crucial essentials, ranging from shipments, quantities, and transportation ports included in the feasible trade, to highlight the importance of the export of precious metals. It also highlights potential marketing regions for informed decisions based on global trends.

Overview of Uganda's Precious Metals Export in 2024

The precious metal export of Uganda, mainly dominated by gold, has come across fluctuations in the present time, with a valuation of gold totaling around 3.09 billion US dollars in 2024, with a 36.7% increase from the previous year's valuation. The prior tax disputes resolution and the government's decision to revise export levels are the ones responsible for the remarkable growth rate of the precious metal export of Uganda. All the attributing factors have led to a standardized 200 US dollars billion per kilogram tax on refined gold, which has facilitated the resumption of trade activities.

The strategic position of the nation as a trade hub for gold from neighboring countries like the Democratic Republic of Congo, Tanzania, and Zimbabwe, accompanied by the expanding exports of Uganda over 48,620 kg of gold, representing a significant rise from 19,903 kg of the previous year, has led to an export trade value of precious metals worth 5.65 billion US dollars in 2024. The robust performance of the precious metals exports underscores the pivotal role of the sector in the overall economic landscape, showing the country's growing integration into the global precious metals market. The robust performance of the precious metals exports underscores the pivotal role of the sector in the overall economic landscape, showing the country's growing integration into the global precious metals market.

A Comprehensive Analysis of the Uganda’s Trade in 2024

The Statistical Analysis of the Precious Metals Export of Uganda for the Last 5 Years

The Leading Variants of Precious Metals Exported From Uganda in 2024

The precious metal export landscape of Uganda, accounting for 49.7% of the non-copper export army, has introduced diversification in the global supply, driven by increased refining capacities from top companies like Wagarai Mining Ltd. in eastern Uganda. According to the Uganda Export Data, the top 10 leading variants of precious metals exported from the nation in 2024 are,

1. Gold – Export trade valuation – 3.09 billion US dollars; Annual trade share – 67%

2. Silver – Export trade valuation – 765 million US dollars; Annual trade share – 28%

3. Waste and Scrap of Precious Metals – Export trade valuation – 543 million US dollars; Annual trade share – 19%

4. Articles of Jewellery – Export trade valuation – 342 million US dollars; Annual trade share – 14%

5. Imitation Jewellery – Export trade valuation – 287 million US dollars; Annual trade share – 9%

6. Clad Metals – Export trade valuation – 165 million US dollars; Annual trade share – 6%

7. Precious Metal Ores and Concentrates – Export trade valuation – 122 million US dollars; Annual trade share – 4%

8. Pearls, Natural or Cultured – Export trade valuation – 98 million US dollars; Annual trade share – 3%

9. Precious Stones – Export trade valuation – 87 million US dollars; Annual trade share – 2.5%

10. Articles of Natural/Cultured Pearls – Export trade valuation – 76 million US dollars; Annual trade share – 1.8%

Major Export Trade Partners of Uganda for Precious Metals in 2024

The Precious metals export of Uganda highlights the regional trade of the country within the East African community due to the adjacent market demand. Rwanda, the Democratic Republic of Congo, and South Sudan account for 36% of precious metal exports, followed by others. According to the Uganda Customs Data, the top 10 export trade partners of Uganda for precious metal exports in 2024 are,

1. India – According to the India Import Data, the total annual valuation of precious metals export from Uganda in 2024 – 2.87 billion US dollars.

2. United Arab Emirates – According to the United Arab Emirates Import Data, the total annual valuation of precious metals export from Uganda in 2024 – 876 million US dollars.

3. Hong Kong – According to the Hong Kong Import Data, the total annual valuation of precious metals export from Uganda in 2024 – 678 million US dollars.

4. Italy – According to the Italy Import Data, the total annual valuation of precious metals export from Uganda in 2024 – 542 million US dollars.

5. Spain – According to the Spain Import Data, the total annual valuation of precious metals export from Uganda in 2024 – 389 million US dollars.

6. Switzerland – According to the Switzerland Import Data, the total annual valuation of precious metals export from Uganda in 2024 – 278 million US dollars.

7. South Africa – According to the South Africa Import Data, the total annual valuation of precious metals export from Uganda in 2024 – 178 million US dollars.

8. Kenya – According to the Kenya Import Data, the total annual valuation of precious metals export from Uganda in 2024 – 165 million US dollars.

9. Turkey – According to the Turkey Import Data, the total annual valuation of precious metals export from Uganda in 2024 – 122 million US dollars.

10. Belgium – According to the Belgium Import Data, the total annual valuation of precious metals export from Uganda in 2024 – 89 million US dollars.

Future Outlook of the Precious Metals Export of Uganda

The recent trade statistics has reported that the precious metal export sector of the nation has been poised for significant transformation in the upcoming years. The government authorities have introduced initiating efforts for reformulation of the mining industry with an utmost aim to subordinate the contribution of the specific commodity to the national economic growth, stabilizing the sustainable development of the nation. Another massive perspective of the government's investment in this sector is the establishment of state-owned mining companies for the proper management of the government's equity in mining operations.

Despite the regulatory advancements and the inadequate infrastructure, limited access to finance, and bureaucratic hurdles, the continuous engagement of the foreign investors in the precious metals sector due to the high-quality production has been crucially fostering the annual valuation, expected to continue its upward trajectory in the upcoming years also. The stringent measures for regulation of the exportation and sale of gold and the authorities' concern over illicit gold trade and revenue losses are representative of the positive future trade of precious metals from Uganda.

CONCLUSION - Uganda's government has been investing tons of service exports in positively fostering revenue generation. The increase in production value is mostly driven by the surge in global demand for high-quality precious metals and stones for industrial and domestic use. Import Globals Uganda shipment data gives a proper statistical overview of the year-on-year trade increase and competitors' engagement in specific sectors for providing a brief overview to the business holders to promote their decision-making strategies by providing volatile information of the regional shipments.

FAQ’S

Que. What is the export trade value of precious metals from Uganda in 2024?
Ans. The export trade value of precious metals from Uganda in 2024 is 5.65 billion US dollars.

Que. Who is the top export trade partner of Uganda for precious metals in 2024?
Ans. India is the top export trade partner of Uganda for precious metals in 2024.

Que. What is the top exported precious metal variant of Uganda in 2024?
Ans. Gold is the top exported precious metal of Uganda in 2024.

Que. Where can you get a detailed trade analysis of the precious metals export of Uganda in 2024?
Ans. By subscribing to Import Globals, you can get a detailed trade analysis of the precious metals export of Uganda in 2024.

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