The economy of Uganda advanced by 1.8% from a year ago in Q1 of 2020, decelerating sharply from an upwardly revised 6.7% growth in the prior period. It was the slowest pace of expansion since Q4 of 2016, as the Covid-19 pandemic dented major economic activities. The services sector grew 2.5%, much slower than 9.2% in Q4, mainly due to weaker performance in professional, scientific & technical activities (-30.8% vs 42.2%); trade & repairs (-3.7% vs 0.7%); transportation & storage (-2.4% vs 0.4%); accommodation & food service (2.2% vs 15.3%) and arts & recreation (0.7% vs 26.5%). Also, agricultural activity expanded by 1.3%, far below 7.6% in Q4, hampered by food crops (-1.6% vs 10.2%) and fishing (-12.4% vs 2.8%). In addition, the industrial sector contracted by 1.5%, after rising 7.2% in Q4, amid declines in mining & quarrying (-22.9% vs 39.6%) and manufacturing (-3.1% vs 5.1%). On a quarterly basis, the GDP rose 2.5% compared to an upwardly 0.8% advance in Q4.
GDP Annual Growth Rate in Uganda averaged 5.37 percent from 2009 until 2020, reaching an all time high of 11.70 percent in the second quarter of 2009 and a record low of -8.10 percent in the third quarter of 2014. This page provides the latest reported value for - Uganda GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Uganda GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020.
GDP Annual Growth Rate in Uganda is expected to be 2.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Uganda to stand at 3.60 in 12 months time. In the long-term, the Uganda GDP Annual Growth Rate is projected to trend around 3.60 percent in 2021 and 4.30 percent in 2022, according to our econometric models.