Who are Uganda’s True Trade Partners? Uganda’s trade story is shifting. Beyond big volumes, the “real” partners are those buying more than they sell—led by the UAE, Europe, and regional neighbours like South Sudan and DR Congo. Meanwhile, deficits with Asia, Tanzania, and Kenya underline the country’s persistent trade imbalance challenge.

For decades, Uganda’s trade story has been defined by its deepening integration into regional markets, rising dependence on Asia, and enduring ties with Europe. But when you look past the big numbers and focus on balance of trade, who buys more from Uganda than Uganda buys from them, the picture of Uganda’s “real” trading partners changes dramatically. Uganda’s external trade has expanded significantly in the past five years. Exports more than doubled from $5.3 billion in the 2020/21 financial year to $10.6 billion in the 2024/25 financial year.  Imports also rose, from $8.3 billion to $13.2 billion over the same…