Uganda Gold Exports Jump To $5.8bn As Prices Draw New Dealers

Tuesday 20th January 2026

By inAfrika Newsroom

Uganda gold exports surge became the central trade story in Kampala on Tuesday after the Bank of Uganda reported a sharp rise in export earnings, driven by record international prices and expanded trading activity.

The central bank said gold export receipts rose 75.8% in 2025 to $5.8 billion, up from $3.3 billion a year earlier. Price gains were a major factor, with global gold prices rising strongly during the year amid geopolitical instability that increased demand for safe haven assets.

Officials and analysts have long described Uganda as a regional processing and trading hub rather than a major producer. That structure helps explain why export earnings can rise quickly when prices jump and more dealers enter the market, even as local production remains relatively limited.

The Bank of Uganda said higher prices attracted new participants, increasing volumes handled through the country’s trading and refining channels. Uganda has also been linked to gold flows from neighbouring countries, a dynamic that makes transparency and traceability a continuing policy priority for regulators and trade partners.

In a notable supply side development, Uganda inaugurated its first large scale gold mine in 2025, described as a $250 million investment by a Chinese company in the east of the country. The shift does not change the hub model overnight, but it adds a domestic production layer that could influence export composition over time.

The central bank said gold has now overtaken coffee as Uganda’s top export and leading source of foreign exchange, underscoring how commodity cycles can reshape national trade profiles in a single year.

Next steps

Uganda gold exports surge will intensify attention on licensing, monitoring, and traceability systems as authorities manage new dealers and rising volumes alongside the start of large scale mining.

Why it matters

Uganda gold exports surge strengthens foreign exchange inflows, but it also raises scrutiny on supply chains and compliance, which can affect market access and financing terms for traders and refiners.