Wedoany.com learned that the Ugandan central bank announced on Tuesday that the country's gold export value last year increased by 75.8%, primarily due to record-high gold prices attracting new entrants into the industry.
Gold has replaced coffee as the largest export commodity and foreign exchange earner for this East African nation. Adam Mugume, Director of Research and Economic Analysis at the Bank of Uganda, told Reuters via email that in 2025, Uganda's gold export value rose from USD 3.3 billion in 2024 to USD 5.8 billion, attributing the main cause to the rise in international gold prices.
In recent years, Uganda has imported raw materials for processing and trade from neighboring countries, including the Democratic Republic of Congo, South Sudan, and others, as Uganda itself has very little domestic gold.
Intensifying global geopolitical conflicts have driven demand for this safe-haven metal, with international gold prices rising over 64% in 2025.
"The attractive gold price has stimulated new entrants into the industry, thus generating substantial exports," Mugume said. He did not provide specific export figures.
Last year, Uganda's first large-scale gold mine commenced production.
