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Economy, Foreign Trade

trade imbalance, COMESA, free trade zone, Common Market, World Trade Organization

Uganda has imported more than it has exported consistently since the Amin regime, but the proportion of imports to exports progressively grew in the 1990s. In 2000 exports ($520 million) were worth far less than imports ($1.4 billion). Foreign aid, primarily loans, finances this trade imbalance. Uganda’s chief exports in 1996 were coffee, fish and fish products, and gold. The most important imports in 1996 were road vehicles, petroleum products, machinery, medical and pharmaceutical products, iron, and steel. Uganda’s main suppliers are Kenya, followed by the United Kingdom, Japan, India, and the United States. The main purchasers of its exports are Spain, Germany, Belgium, France, and the United States. Uganda is a member of the Common Market for Eastern and Southern Africa (COMESA), whose member states reduced their tariffs with each other by 80 percent in 1996 with the goal of eventually creating a free trade zone. Uganda is also a member of the African Export-Import Bank and the World Trade Organization (WTO).

Article key phrases:

trade imbalance, COMESA, free trade zone, Common Market, World Trade Organization, WTO, Foreign aid, member states, road vehicles, Kenya, loans, petroleum products, tariffs, fish products, Spain, Japan, Southern Africa, iron, France, pharmaceutical products, Belgium, coffee, Germany, gold, India, machinery, steel, percent, goal, United Kingdom, United States


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